Monthly Archives: January 2016

Coca-Cola buys 40% stake in Chi Ltd.

Coca-Cola Company announced on Saturday that it has acquired a 40% stake in Nigeria’s largest juice maker, Chi Limited, known for its Chivita and Hollandia juice, dairy and yoghurt drinks.

Coke bought the stake from Tropical General Investments Group (TGI Group), Chi’s parent company, the two companies said in a joint statement, though they did not disclose how much Coke paid for the stake. One industry source said Coca-Cola was paying a “triple-digit-million-dollar” amount for the stake. Other sources say Chi was valued at as much as $1bn.

AB InBev pays-off $42.5bn acquisition bridge loan after a successful bond issue

Anheuser-Busch InBev (AB InBev) said on Thursday that it had paid-off $42.5bn of a $75bn senior acquisition loan used to finance the purchase of SABMiller after a very successful bond issue.

The Belgian-based brewer, said it had raised about $47bn in net proceeds from a $46bn bond issuance announced on January 13 and the Formosa deal announced on January 20.

Diageo reports a 1.8% rise in Half-Year (H1) sales

Drinks maker, Diageo Plc and parent company of Guinness Nigeria Plc reported a 1.8% rise in organic sales for half-year (H1) ending on 31, December 2015, slightly better than what analysts were expecting. However, on a reported basis, the company said that sales declined by 5%.

GSK Nigeria in negotiations with Suntory to sell beverage business

Ribena and Lucozade brands

GSK Consumer Nigeria Plc, maker of Ribena and Lucozade brands has confirmed that it has received a non-binding offer from Suntory Beverage & Food Limited (SBF) for their beverage business consisting of the bottling and distribution of Ribena, Lucozade and part of their Agbara manufacturing plant.

Singapore conglomerate Fraser & Neave bids for Peroni, Grolsch

Singapore based conglomerate, Fraser & Neave (F&N) have expressed interest in acquiring SABMiller’s two European beer brands, Peroni and Grolsch, adding to a list of global companies that have shown interest in the brands.

The two brands are being sold by AB InBev, the world’s largest brewer and acquirer of SABMiller, in order to address European regulatory concerns about its merger with SABMiller in Europe.

Fraser & Neave operates food, drink and publishing businesses in Asia and formerly owned Asia Pacific Breweries, which it sold to Dutch brewer, Heineken NV in 2012.

Fake wine producer found guilty and fined

Fake wine producer, Julian Madu, who earlier in the week, was arraigned and pleaded guilty before a Federal High Court in Lagos, for sale and distribution of unregistered Moet and Chandon champagne has been ordered to pay the sum of N55,000.

Madu, owner of MADAK Enterprises operated a counterfeit business at 8, Offin Road, Oke-Arin, Lagos, where he bottled unregistered wines that were then sold to unsuspecting customers as Moet and Chandon.

FrieslandCampina WAMCO commissions N2bn ultra-Modern Warehouse

FrieslandCampina WAMCO, maker of some of the most recognized milk brands in Nigeria such as Peak milk has opened a new State-of-the-art finished goods warehouse in Ikeja, Lagos, with a 14,000 pallet positions capacity.

Promasidor unveils two new infant baby formulas at Breastfeeding Symposium

Promasidor Nigeria Limited, maker of Cowbell milk among other products has introduced two new infant milk formulas to the Nigerian market – Cowbell Tina 1 and Cowbell Tina 2.

The products were unveiled at a Breastfeeding symposium organized by the company and titled “The Nutrition Wisdom of Infant Feeding Choices”. The event was held at the Civic Centre, Victoria Island, Lagos.

Soft drinks giants move to reduce sugar levels in their products

Soft drinks giants such as Coca-Cola and PepsiCo have pledged they will cut sugar levels in their products ahead of a British government’s plan to levy a sugar tax.

The companies say they will introduce a series of “unprecedented” measures of their own volition, which they claim will help reduce Britain’s sugar consumption by a fifth.

Federal Government sets out plan for growing grass for cattle grazing

The Federal Government is set to begin implementing a special grass cultivation programme across the country as a means of mitigating the recurring clashes between farmers and nomadic cattle herdsmen.

The Minister of Agriculture and Rural Development, Chief Audu Ogbeh, disclosed this to the media when he received the Surveyor General of the Federation, Mr. Ebisintei Awudu at his office.