Prices of soft drinks rise amid FX woes, inflationary pressure

Prices of soft drinks are on the rise as the industry continues to grapple with the fallout from macroeconomic headwinds induced by the drop in oil price. Nigerian Bottling Company (NBC), the More »

How brewers are selling beer with folklore

As Nigeria’s recession deepens and consumers pockets are squeezed, majority of those still drinking have shifted their beer preferences to value or low cost brands. Nigerian Breweries Plc, the country’s leading brewer More »

Beta Glass sees growth acceleration continue in the second quarter

Beta Glass Plc reported a strong first half in 2018, a continuation of the growth acceleration begun in the first quarter. The company saw revenue growth of 49% to ₦13.1bn, driven by a 54% sales surge in the second quarter to ₦6.7bn.

Champion Breweries posts 7% profit decline in half year as costs rise

Champion Breweries plc, said that net profit for the six months to the end of June 2018 fell by 6.53% to N80.5m from N86m in the same period in 2017.

The Akwa Ibom based brewer blamed the decline on rising cost of selling and distribution expenses, which rose 95% in the period to N347m. The second quarter saw a 127% spike in selling and distribution cost to N226m.

Int’l Breweries sustains sales growth in first half despite loss

International Breweries Plc, the Nigerian subsidiary of AB InBev has seen its losses widen in the first half of 2018 to N2.8bn, from N2.2bn in the first quarter.

The loss came despite a strong revenue boost of N53bn in the first half.

UAC Foods appoints Oladele Ajayi as new Managing Director

The Board of UAC Foods Limited has appointed Dr Oladele Ajayi as its new Managing Director.

Dr Ajayi holds a PHD in Mechanical & Process Engineering from the University of Strathclyde, United Kingdom and an alumnus of the Advance Management Program of Harvard Business School.

Olympic milk renews music crooner Peter Okoye’s Ambassadorial Contract

Olympic milk brand has announced the extension of music crooner Peter Okoye’s Ambassadorial contract for the fourth year.

This was disclosed recently at the official signing ceremony at PZ Cussons head office in Ilupeju, Lagos

Speaking on the contract renewal, PZ Cussons Managing Director, Commercial, Mr Alex Goma, stated that the contract signing “signifies the continuation of Peter’s activities as Olympic brand ambassador, a position which will among other things see him champion the cause for a healthy and active lifestyle and also represent the brand at different levels.”

La Casera unveils ‘Full Option SKUs’ of famous Apple drink as it marks International Fruit Day

The La Casera Company (TLCC) has announced the launch of ‘Full Option SKUs’ of its famous apple drink. The soft drinks company said that the unveiling of different sizes of the same product is to ensure that everyone can enjoy premium apple at affordable prices.

According to the firm, the flagship brand (La Casera Apple drink) is now available in 35cl, 50cl and 60cl PET bottles.

Newly opened Krispy Kreme store in Lagos shuttered over alleged use of expired ingredients

The Consumer Protection Council (CPC) announced on Wednesday through its twitter handle that it had shut down the Victoria Island, Lagos store of Krispy Kreme.

The consumer watchdog disclosed that it, in collaboration with the National Agency for Food and Drug Administration and Control (NAFDAC) carried out a quality inspection of products, facilities and operations of the doughnut company.

AB InBev to build new brewery in Mozambique, set to open new Nigerian brewery

AB InBev has announced it will start the construction of a new brewery in Mozambique in the second-half of 2019, putting it in direct competition with rival Heineken N.V. which announced in December it will build a $100 million brewery in the Southern African country.

The Belgian-based brewer said that the new facility will produce about 2-million hectoliters of beer a year, but declined to disclose the size of the investment. However, it noted that the land acquired for the project would be big enough for further expansion in the future.

UK firm takes majority stake in Ajeast Nigeria

A UK-based private equity firm, Duet Private Equity (DPEL), has acquired a majority stake in Ajeast Nigeria Limited, a subsidiary of Peru-based AJE group.

DPEL is said to have invested over US$50 million in the acquisition and a significant share will be used to expand Ajeast’s presence in Nigeria.

PepsiCo’s Nooyi to leave post

Indra Nooyi, the long-serving Chief executive Officer of Purchase, New York based PepsiCo is to step down from her post after 12 years.

The 62-year old Nooyi, who has been with the company for 24 years, will cede the CEO role to 54-year old Ramon Laguarta, a Spaniard and 22-year veteran of the soft drinks giant.