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: Coffee & Tea

Nestle Nigeria suffers earnings slump as unfavourable FX translation takes its toll

Nestle Nigeria Plc, on Wednesday reported its full-year results for the period ending December 2016, which showed net profit decline by 67% to N7.9bn, down from N23.7bn in 2015.

The chocolate drinks and coffee maker blamed the drop in profit on a combination of the impact of naira devaluation which caused the company’s net finance cost to skyrocket to N16.7bn, from N4.4bn in the previous year and the effect of the expiration of its pioneer “tax” status.

Firm sues Nestle Nigeria, Access Bank over breach of trade agreement

Nestle Nigeria Plc, has been sued in an Oyo State High Court, sitting in Ibadan by a local firm, First Nigeria Enterprises, owned by Professor Olatoye Ogunbode.

The suit against Nestle alleges that it broke the trade agreement it entered into with First Nigeria Enterprises.

Access Bank was also dragged into the suit because it provided the financing for the distributorship agreement between Nestle Nigeria and First Nigeria Enterprises.

Nestle buys Egypt’s Instant Coffee firm

Nestlé SA announced that it has acquired Egyptian Coffee firm Caravan Marketing Company SAE, which makes instant coffee brand Bonjorno, among others.

The terms of the transaction was not disclosed.

Caravan was started in 2003 as a marketing and distribution company and has since grown to include its own brands.

In the last five years, Nestlé has made significant investments in manufacturing and distribution facilities in Egypt at nearly one billion Egyptian pounds ($53m).

Cadbury Nigeria appoints new Managing Director

Cadbury Nigeria Plc, announced on Tuesday the appointment of Mr. Muhammad Amir Shamsi as its new Managing Director effective 1 February 2017. Mr. Shamsi takes over from Mr. Roy Naaman who resigned effective 31st January 2017.

Mr. Shamsi joined Mondelez International, the parent company of Cadbury Nigeria Plc, as a Marketing Director of its biscuit business in Pakistan in June 2009. From there, he moved up the ranks to become Head of New Categories, Gum & Candy at Kraft Foods, a Mondelez business in West Africa from 2012 to 2013. He became the Marketing Director of Kraft Foods in West Africa from October 2013 to March 2016. From April 2016 to January 2017, he was in charge of Mondelez Innovation kids Wholesome, Global Biscuits in East Hanover, USA.

Promasidor Nigeria holds Distributors Forum in South Africa

Promasidor Nigeria Limited, makers of Cowbell and Loya milk, among others recently held its Distributors Forum in South Africa, and its Nigerian distributors were flown to Cape Town for the event dubbed – ‘Promasidor Distributors Forum’.

Nestle Nigeria marks 150 years Anniversary of company’s founding with factory tour

Nestle Nigeria Plc on Friday celebrated the 150th year anniversary of the company’s founding with a factory tour of its Agbara, Ogun State plant, with key stakeholders, in what the company described as “good nutrition”.

The tour which took place where the company manufactures Cerelac and Maggi Seasoning cubes gave Nestle an opportunity to discuss how its commitment to Creating Shared Values (CSV) meets some of the main societal nutrition and health needs of people in Nigeria.

Aggressive marketing, Cost improvements help Suntory Food & Beverage lift sales

Suntory Holdings, the group company that owns Suntory Food and Beverage Limited, said that group revenue fell 0.23% to ¥1.97 trillion yen (approx. $18.7bn) in the first nine months of 2016. However, operating income rose 14.1% to ¥149bn yen ($1.4bn).

Suntory Food and Beverage segment boosted sales 4.4% to ¥1.06 trillion yen ($10bn) in the nine months to September, helped by a strengthening of its brands, creation of new demand for its products, bolstering profitability by reforming its cost structure and improving product quality based on insights from other group companies.

Ajinomoto buys stake in Promasidor for $532 million

Japanese food and ingredient manufacturer, Ajinomoto has agreed to buy a 33% stake in Promasidor at a cost of $532m (approx. ¥55.8bn yen).

The stake gives Ajinomoto access to Promasidor’s distribution network in 36 African countries. The deal values Promasidor at about $1.6bn.

Ajinomoto seeks to attract Africa’s growing middle class consumers to its products. The company sees rising demand for low-priced foods and daily essentials on the continent.

Japan’s Ajinomoto, PepsiCo bid for stake in Promasidor

Japanese firm Ajinomoto and PepsiCo are among companies vying for a stake in African dairy and drinks company Promasidor.

The deal which could put a price of $1bn on Promasidor will give the buyer access to the firm’s distribution network across Africa.

Currency headwinds dampen Nestle Nigeria’s 9-months profit

Nestle Nigeria Plc, said that recent devaluation of the Naira and subsequent revaluation of outstanding foreign loans had an adverse effect on its earnings for the 9-months ending 30 September.