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 »

Category Archives: Segment

Nestle Nigeria mulls new investments to boost growth

Nestle Nigeria Plc, said it is weighing new investment proposals to bolster its nationwide production and distribution networks to drive growth.

The company made this known at its Annual General Meeting (AGM), which held recently in Lagos. Speaking at the event, the chairman of Nestle Nigeria Plc, Mr. David Ifezulike told shareholders that the company was considering a lot of investment proposals that should strengthen its operations.

Brown-Forman says it ‘is not for sale’

Brown-Forman Corp, the U.S.-based spirits firm behind such brands as Jack Daniel’s Tennessee whiskey, Wolford Reserve among others confirmed on Thursday that it ‘is not for sale’.

A story that broke on Tuesday and first reported by CNBC had said that Brown-Forman was approached by New York-based Constellation Brands, a beer, wine and spirits firm with offer to acquire Brown-Forman but was rebuffed by the firm.

Dano raises awareness of milk in combating malnutrition in celebration of World Milk Day 2017

Leading dairy firm, TG Arla, makers of Dano milk has partnered with the Nutrition Society of Nigeria (NSN) to help fight malnutrition in the country.

Speaking at a press briefing in Lagos to announce 2017 ‘World Milk Day’ theme – ‘Raise a Glass’ and the role milk plays in curbing malnutrition in society, President, Nutrition Society of Nigeria (NSN), Dr. Bartholomew Brai lauded Dano milk for taking the bold initiative to partner with NSN and contribute to the well-being of Nigerians.

Rumours swirl over Brown-Forman, Constellation Brands tie-up

U.S. spirits firm Brown-Forman Corp has declined to comment on a story first reported by CNBC late on Tuesday, that “people with knowledge of the matter” said that Constellation Brands “has made an approach to acquire” Brown-Forman.

However, a spokesperson for Brown-Forman said, “As a matter of corporate policy, we don’t comment on market rumours or speculation.

FrieslandCampina WAMCO sustains growth despite harsh economic environment

Nigeria’s leading dairy firm FrieslandCampina WAMCO reported higher sales and profits in its full-year financial results for 2016.

At the company’s 44th Annual General Meeting, which held at the Muson Center, Onikan, Lagos on Thursday May 18, 2017, shareholders acknowledged the efforts of the Board of Directors and Management for the consistent performance despite the decline in economic activities and increased pressure on the naira.

Diageo’s – Capital Markets Day 2017 Wrap-up

Diageo held its Capital Markets Day (CMD) on 9th May 2017. The company’s Africa President, John O’Keeffe spoke with analysts on various issues covering the group’s business operations in Africa and Nigeria.

Beverage Industry News (NG) recaps some of the highlights of the day and the spirit firm’s strategy for Africa in 2017 and beyond.

AB InBev to pour $2bn into U.S. breweries through 2020

Anheuser-Busch InBev on Monday announced an ambitious programme to spend $2bn in investment in its U.S. operations over the next four years to increase brewing capabilities.

The world’s largest brewer said it will spend $500m each year for the next four years – describing it as one of the biggest ever capital investment programmes in the U.S. brewing history.

Beam Suntory boosts Q1 profits despite flat sales

Beam Suntory Inc, the wine, beer and spirits arm of Japanese conglomerate, Suntory Holdings Limited said that its first quarter revenue for 2017 fell flat, recording 0.15% decrease in sales to ¥217bn ($1.93bn).

However, the maker of Courvoisier cognac and Basil Hayden’s bourbon among others noted that its spirits segment posted sales growth in the low single-digits, helped by strong growth in brands such as Jim Beam bourbon, Maker’s Mark whiskey and other Super-Premium bourbon brands.

Cost savings and product quality initiatives help lift Suntory Beverage & Food first Quarter profit

Japanese Beverage and Food Company Suntory Beverages & Food Limited reported flat sales of -0.1% in its first quarter 2017. Total revenue for the three months ending in March fell to ¥308.9bn ($2.7bn).

However, the company said that it was able to boost profit by focusing on strengthening its brands, creating new demand, reforming its cost structure and improving product quality.

Coca-Cola HBC hails 4.5% revenue growth in first quarter

Coca-Cola HBC AG, the bottler of Coca-Cola products in Nigeria and 27 other European countries said on Thursday that revenue for the first quarter of 2017 (Jan – Mar) rose 4.5% to €1.38bn ($1.49bn), up from €1.3bn in 2016. Total volumes rose 0.7% in the period.

The group attributes its good performance to strong growth in emerging markets, where sales rose 12.6% to €628.9m on a 4% volume lift. According to the company, volumes in Russia showed the first signs of recovery, recording very low single-digit volume growth for the first time in eight quarters, driven by mid-single digit increase in sparkling.