Martinne's Feed
Jun 4, 2014

Nestle’s scientific skew curbs its appetite for weak food brands

LONDON, June 4 (Reuters) – Nestle has less
tolerance for underperforming food brands as its focus shifts to
more scientific businesses such as medical nutrition and skin
health that require deeper investments.

Paul Bulcke, chief executive of the world’s largest packaged
food group, said on Wednesday its newer businesses, which
include injectable wrinkle treatments, were more complicated
than food and therefore required greater resources.

Jun 2, 2014

Henkel to buy three U.S. hair care brands for $370 million

FRANKFURT/LONDON (Reuters) – Germany’s Henkel (HNKG_p.DE: Quote, Profile, Research, Stock Buzz) will buy three U.S. hair care companies for 270 million euros ($370 million) in cash as the household products and industrial glues maker aims to strengthen its business with hair salons.

Henkel, which already owns Schwarzkopf hair products, said the three brands – SexyHair, Alterna and Kenra – have annual sales of about 140 million euros, mostly through hair salons.

Jun 2, 2014

Henkel to buy 3 U.S. hair care brands for $370 mln

FRANKFURT/LONDON, June 2 (Reuters) – Germany’s Henkel
will buy three U.S. hair care companies for 270
million euros ($370 million) in cash as the household products
and industrial glues maker aims to strengthen its business with
hair salons.

Henkel, which already owns Schwarzkopf hair products, said
the three brands – SexyHair, Alterna and Kenra – have annual
sales of about 140 million euros, mostly through hair salons.

May 29, 2014

Weak sweetener sales sour Tate & Lyle performance

LONDON, May 29 (Reuters) – Tate & Lyle posted a
drop in profit and forecast a further weakening in the new year,
as the British food ingredients firm feels the chill from a cold
winter in the United States and stiff competition for its
sucralose.

The company, which sells a range of sweeteners including
sucralose under the Splenda brand, said in February that
sucralose prices would be about 15 percent lower in the new
fiscal year.

May 28, 2014

Nestle boosts skincare business with $1.4 billion Valeant deal

LONDON/ZURICH (Reuters) – Swiss food group Nestle (NESN.VX: Quote, Profile, Research, Stock Buzz) stepped up its drive into the fast-growing skincare market on Wednesday, buying the rights to several treatments for facial lines and wrinkles from Valeant Pharmaceuticals International (VRX.TO: Quote, Profile, Research, Stock Buzz) for $1.4 billion in cash.

The world’s biggest food group, with brands including KitKat chocolate bars, Gerber baby food and Nescafe coffee, signaled its ambitions in skincare in February by taking over the Galderma dermatology venture it had with L’Oreal (OREP.PA: Quote, Profile, Research, Stock Buzz).

May 22, 2014

Japanese group Mizkan buys Unilever’s pasta sauces for $2.15 billion

LONDON (Reuters) – Mizkan Group has agreed to buy Unilever’s Ragu and Bertolli pasta sauce brands for $2.15 billion, continuing a trend for Japanese consumer goods companies diversifying through Western assets.

The all-cash deal, which values the sauce business at 3.6 times its annual sales, boosts the Japanese condiments maker’s presence in North America’s grocery aisles as declining birth rates and an ageing society stifle growth at home.

May 22, 2014

Japanese group buys Unilever’s pasta sauces for $2.15 bln

LONDON, May 22 (Reuters) – Mizkan Group has agreed to buy
Unilever’s Ragu and Bertolli pasta sauce brands
for $2.15 billion, continuing a trend for Japanese consumer
goods companies diversifying through Western assets.

The all-cash deal, which values the sauce business at 3.6
times its annual sales, boosts the Japanese condiments maker’s
presence in North America’s grocery aisles as declining birth
rates and an ageing society stifle growth at home.

May 22, 2014

SABMiller sets new savings goal as trading stays tough

LONDON, May 22 (Reuters) – Global brewer SABMiller
announced a new cost-savings target on Thursday to help cushion
it against difficult trading in a range of markets, sending its
shares higher as investors anticipated a consequent boost to
earnings.

The maker of Miller Lite and Peroni beers is struggling to
grow in Europe and North America – like many consumer goods
companies – and new revenues from an emerging middle-class in
developing markets have been dented by weak currencies in many
of those countries of late.

May 9, 2014

United Spirits agrees to sell Whyte & Mackay to Emperador

MUMBAI/LONDON (Reuters) – India’s United Spirits Ltd (UNSP.NS: Quote, Profile, Research, Stock Buzz) agreed to sell its Whyte & Mackay scotch whisky unit to Emperador Inc (EMP.PS: Quote, Profile, Research, Stock Buzz) in a 430 million pound ($729 million) deal that satisfies UK antitrust concerns and the Filipino company’s thirst for growth.

United must sell Whyte & Mackay after world whisky leader Diageo Plc (DGE.L: Quote, Profile, Research, Stock Buzz) took a controlling stake in the Indian spirits maker. Britain’s competition authority said Diageo’s Bell’s brand competes with Whyte & Mackay’s whisky and that the combination could stifle competition.

Apr 29, 2014

British American Tobacco outlines cost of EU compliance

BAYREUTH, Germany, April 29 (Reuters) – British American
Tobacco expects compliance with new European regulation
on cigarettes to cost it 100 million to 200 million euros ($138
million-$277 million) over the next two years as it upgrades its
machines to meet new packaging rules.

The European Commission is implementing legislation known as
the Tobacco Products Directive (TPD) aimed at cutting down on
the estimated 700,000 EU citizens who die each year from
tobacco-related causes.