LONDON/SAO PAULO, Feb 23 (Reuters) – British American
Tobacco Plc is considering a buyout of the 24.7 percent
stake it does not already own in Souza Cruz SA,
Brazil’s largest cigarette company, in a deal that could cost
about 2.3 billion pounds ($3.53 billion).
In a statement on Monday, London-based BAT said it was
looking to pay 26.75 reais in cash for each share of Souza Cruz.
That is 13 percent above Souza Cruz’s closing price on Friday
and represents a 30 percent premium to its volume-weighted
average closing price over the last three months.
VEVEY, Switzerland, Feb 19 (Reuters) – Nestle, the
world’s largest packaged foods maker, forecast sales to rise 5
percent this year, in line with its long-term goals, following a
weaker year in 2014 that was hurt by deflation in Europe and
slowing demand in Asia.
The Switzerland-based maker of Nescafe coffee and KitKat
chocolate said on Thursday that 2014 organic sales, which
excludes currency swings and acquisitions, rose 4.5 percent.
Analysts on average had expected 4.5 percent, a Reuters poll
found, after Nestle signaled in October it was likely to fall
short of its 5 percent goal.
LONDON/MILAN (Reuters) – The death of Italian billionaire Michele Ferrero could ultimately herald a deal involving the chocolate empire bearing his name, with the family’s third generation leading it into a future of increasingly hungry multinationals.
The maker of Nutella spread and Ferrero Rocher chocolates has long been viewed as an appetising target for rivals such as Mondelez International, Nestle, Mars and Hershey. But given the strength of its brands, the high margins on chocolate and sluggishness of packaged food overall, the Italian business could feasibly be on the shopping list of any global food company.
LONDON, Feb 12 (Reuters) – Imperial Tobacco Group
reported a 4 percent decline in underlying tobacco volumes for
its fiscal first quarter, in line with its broader markets, and
stood by its outlook for the year.
The maker of Davidoff and Gauloises cigarettes on Thursday
said underlying tobacco revenue fell 1 percent in the quarter,
ended on Dec 31. It blamed the timing of price increases,
reduced trading in Iraq and lower sales of mass-market cigars in
the United States ahead of a brand relaunch.
LONDON, Feb 4 (Reuters) – Imperial Tobacco Group Plc
is launching a new e-cigarette in France next week, giving the
big tobacco firm a lifestyle brand in addition to its existing
brand Puritane, marketed more as a healthcare product.
The new brand called Jai will be sold in tobacconist shops,
while Puritane is sold online and exclusively behind the counter
at Britain’s Boots pharmacy chain, which is owned by Walgreens
Boots Alliance Inc.
LONDON (Reuters) – Art rocker PJ Harvey hopes that recording inside a glassed room at Somerset House in central London will help draw on the likes of Elizabeth I, who lived on its grounds before she was queen, and Oliver Cromwell, who lay in state there.
A select group of visitors lucky enough to get tickets will watch Harvey, one of England’s most original pop artists, chipping away at the coal face of music creation.
BERLIN/LONDON, Jan 26 (Reuters) – An expensive fightback by
top consumer goods brands is likely to provide only temporary
relief as retailers improve the quality of their own products to
attract thrifty European shoppers.
Sales from supermarkets’ own label ranges have surged in
recent years. Cash-strapped shoppers seeking cheaper
alternatives to branded favourites have also flocked to discount
chains that keep prices low by stocking few top names.
LONDON (Reuters) – Imperial Tobacco Group, the world’s third largest cigarette maker, is moving into caffeine as more people kick the deadly smoking habit, launching a melt-in-your-mouth strip designed to give an energy boost in seconds.
The product, called Reon, comes in flavors such as “grapefruit & zing” and “black currant & fresh”. For now it is only sold in the English city of Manchester and online.
LONDON, Jan 21 (Reuters) – Dutch soft drinks bottler
Refresco Gerber has attracted bids from three private
equity funds valuing the business at around 1.5 billion euros
($1.74 billion), sources familiar with the process said.
PAI Partners, Pamplona Capital Management and Platinum
Equity have emerged as the only bidders left in the second round
of an auction, with a late February deadline, the sources said.
LONDON, Jan 20 (Reuters) – Consumer goods group Unilever
expects another sluggish year, after a
slowdown in emerging markets and flagging developed economies
curbed demand for everything from soup to soap in 2014.
The maker of Dove soap and Lipton tea posted
lower-than-expected growth in underlying sales for the final
quarter of 2014, the industry’s weakest year in recent memory.
Its Chinese business was particularly hard hit, with quarterly
sales down 20 percent as retailers cut inventories there.