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

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.

Interbrand’s Top global beverage brands for 2016

Interbrand, the world’s biggest and most influential brand consultancy has released its 2016 Top Best 100 brands report. The list is a mixed bag of brands from a diverse set of industries with Apple and Google topping the list.

There were 11 global beverage brands in the top 100, starting with Coca-Cola, 3; Pepsi Cola, 23; Budweiser, 30; Nescafe, 36; Jack Daniel’s, 85; Sprite, 86; Heineken, 87; Corona Extra, 93; Johnnie Walker, 95; Smirnoff, 96; Moet & Chandon Champagne, 97.

GSK Consumer Nigeria completes sale of drinks business to Suntory

GlaxoSmithKline Consumer Nigeria Plc (“GSK Consumer Nigeria Plc”) announced on Friday, 30 September that it had completed the divestment of its drinks business including bottling and distribution to Suntory Beverage & Food Nigeria Limited.

The transaction was originally expected to close on 31 August 2016, but GSK requested for additional time to enable both parties to comply with the terms of the Asset Purchase Agreement entered into on 31st March 2016.

IFC to invest $25m (N8bn) in Promasidor to modernize plant

Promasidor Nigeria Limited, makers of Cowbell milk, Onga seasoning, Loya milk and Top tea has finalized arrangements with the International Finance Corporation (IFC), a member of the World Bank Group, to obtain a $25m loan (over N8bn) which would be used to expand production and improve efficiency at the company’s Lagos plant.

Nestle Nigeria appoints Mauricio Alarcon as new Managing Director

Nestle Nigeria Plc has announced the appointment of Mr. Mauricio Alarcon as the new Managing Director of Nestle Nigeria Plc with effect from 1 October 2016. Mr. Alarcon replaces Mr. Dharnesh Gordhon, who has taken up a new position at Nestle Indonesia.

Mr. Alarcon joined Nestle Mexico in 1999 as an Area Sales Manager in the company’s Ice Cream business. From there, he moved up the ranks to Marketing Advisor at Nestlé’s Strategic Business Unit in Switzerland; then Marketing Manager for Nestlé’s Ice cream business in Australia; Business Executive Manager at Nestlé’s Ice Cream in Egypt. Under his leadership, the ice cream business turnover in Egypt more than doubled and the profitability improved in a challenging environment.