Monthly Archives: June 2017

Seven-Up losses widen at year end

Seven-Up Bottling Company Plc, on Friday reported a net loss of N10.7bn for the full-year ended 31 March 2017, down from the N3.3bn profit recorded a year earlier.

The company blames higher input costs, driven by inflation and unrealized foreign exchange loss for the poor performance. Cost of sales in the period rose 57% to N95bn, up from N60.6bn.

Coca-Cola reaches agreement with South Africa over CCBA

Coca-Cola said on Thursday that it had reached an agreement with the South African government on a package of conditions addressing public interest considerations in connection with the proposed acquisition of AB InBev’s 54.5% stake in Coca-Cola Beverages Africa (CCBA).

The soft drinks giant reaffirmed its commitment to honour all merger conditions agreed with South African regulators when CCBA opened for business in 2016. Coke also agreed to ensure that the majority shareholder of CCBA will honour all merger conditions agreed at the creation of the company.

Chellarams forms strategic partnership with DMK Group

Chellarams Plc, a diversified food, beverage and industrial chemical manufacturer and distributor announced on Thursday it had entered into a new strategic joint-venture agreement with its long-time business partner, German-based dairy producer, DMK Limited. The new venture will be called Chellarams DMK Limited.

According to a statement released by the company, the primary goal of the new venture will be to manage the production, marketing, sales and distribution of a full range of dairy products across Nigeria.

Coca-Cola Africa names Roger Gauntlett to head its South African unit

Coca-Cola African unit has appointed Roger Gauntlett to become its new General Manager (GM) for its South African operations, replacing Luigi Panaino, who left the company after 20 years of Coca-Cola system experience.

Mr. Gauntlett is a veteran of the Coca-Cola system, having joined the company in Johannesburg in 1999. He will be responsible for managing the firm’s relationship with its bottling partner, Coca-Cola Beverages South Africa (CCBSA), ensuring alignment as well as sustainable and profitable growth for the beverage giant’s business in the country.

Mexico readies for a fight with Heineken over alleged misuse of protected name ‘Tequila’

Mexico’s Tequila Regulatory Council (CRT) is preparing for a drawn-out legal battle against Heineken N.V. over what it alleges is the Dutch brewer’s use of the word “Tequila”, a protected name on its Desperados Lager beer when the brew does not contain the spirit.

We cannot permit someone unscrupulously to affect tequila’s prestige,” said Ramon Gonzalez, CRT Director-General.

Either they take the word tequila off it, or they put some tequila in”. If they refuse, “we’ll have no choice but to fight this in court,” he said.

Local cassava firm fills void left by drop in raw materials imports

PSALTRY International Company Limited, an Oyo State-based grower and processor of high-grade cassava starch is filling a void left by a drop in imports of raw materials used by local beverage companies and other Fast Moving Consumer Goods (FMCG) firms. The drop in imports has created a surge in demand for local cassava starch which is a close substitute of maltose, an ingredient used in beverages and other products. The surge in local demand was caused by a high dollar exchange rate precipitated by low oil price, a situation that has forced many local manufacturers to abandon imports of raw materials with local substitutes.

Nigerian Breweries targets 60% local raw material sourcing by 2020

The Nigerian Breweries (“NB”) Plc has said that it was making plans to increase sourcing of raw materials like sorghum, Food Grade Starch and others locally from 57 to 60 per cent by 2020.

Mr Patrick Olowookere, Corporate Communications and Brand Public Relations Manager, made the disclosure to newsmen during a facility tour in Ado Awaiye in Iseyin area of Oyo State on Wednesday.

“33” Export Lager unveils ‘City of Friends’ campaign as it seeks to deepen bond with consumers

“33″ Export Lager Beer, the premium beer brand from the stables of Nigerian Breweries Plc (“NB”), a Heineken company has unveiled yet another initiative called ‘City of Friends’ at the Sheraton Hotel, Ikeja, Lagos. The event is a three-day long celebration that would feature some of Nigeria’s top entertainers.

NBC marks World Environment Day, reaffirms pledge to environmental sustainability

Nigerian Bottling Company Limited (NBC), the bottler of Coca-Cola products in Nigeria has reiterated its resolve to environmental sustainability as it celebrated this year’s World Environment Day.

While observing the global day for environment in Nigeria on the 5th of June 2017, the company participated in tree planting exercises, sensitization walks and other programmes in recognition of the environment and in line with the global theme for 2017 World Environment Day – Connect with Nature.

Excitement among secondary school teachers reaches fever pitch as MTOY 2017 deadline looms

The search for 2017 Maltina Teacher of the Year (MTOY) has gathered increased momentum as more teachers across the country have been taking advantage of the opportunity by visiting the MTOY website to submit their entries.

Organisers of the MTOY and various stakeholders in the nation’s education sector had, at the flag-off of the event last month, encouraged teachers in both public and private secondary schools to participate in the innovative award aimed at rewarding teachers and the teaching profession in the country.