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: Ready-to-drink

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.

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.

Guinness Nigeria losses widen amid market challenges, FX headwinds

Guinness Nigeria Plc, said on Tuesday it recorded a net loss of N2bn for the full-year ending in June 2016, down from N8bn profit it made in the previous year. The brewer blamed the loss on weak economic environment and foreign exchange headwinds.

Kenya Breweries eyes the youth with introduction of Smirnoff Ice Electric Ginseng

Kenya Breweries Limited (KBL), a Diageo company has introduced Smirnoff Ice Electric Ginseng into the Kenyan market targeting the youths.

KBL said on Monday Smirnoff Ice Electric Ginseng will be marketed to the youth who make up 54% of the total alcohol market volume in the country. It adds that there would be a focus on male consumers who have not been drawn to existing RTDs segment.

FX shortages hampering business operations, Nestle Nigeria CEO says

Nestle Nigeria Plc said on Wednesday that a shortage of foreign exchange in the country was hampering business operations and ability to import equipment.

While speaking at an event organized by the Nigerian Stock Exchange and Bloomberg in Lagos, Mr. Dharnesh Gordhon, Chief Executive Officer of Nestle Nigeria, said:

GSK Consumer Nigeria extends deal closure date

GlaxoSmithKline Consumer Nigeria Plc (“GSK Consumer Nigeria Plc”) said on Tuesday it has shifted the closure date to sell its drinks business to Suntory Beverage & Food Nigeria Ltd to 30th September 2016. The transaction was initially expected to close on 31st August 2016.

GSK Consumer Nigeria declares N3.7bn net loss in half-year as currency devaluation bites

GlaxoSmithKline Consumer Nigeria Plc (“GSK Consumer Nigeria”) on Friday reported a net loss of N3.7bn for the first-half of 2016, down from N297m in the same period last year.

The company which recently sold its drinks business (Ribena and Lucozade brands) to Suntory Beverage & Foods Nigeria Limited so it can focus on healthcare and pharmaceuticals said that revenue for the period fell 9.6% to N13bn, down from N15bn last year.

Cadbury Nigeria Half-Year revenue fall 1.6% on headwinds, competitive pressure

Cadbury Nigeria Plc, said on Wednesday that revenue for the six months ending in June 30, 2016 fell by 1.6% to N13.9bn, from N14.1bn in the same period a year ago.

While revenue was off by 1.6%, the maker of Bournvita posted a healthy profit after tax of N147m for the period, a 159% increase from 2015.

GSK Nigeria shareholders vote to sell beverage business to Suntory

Ribena and Lucozade brands

GlaxoSmithKline Consumer Nigeria Plc (“GSK Consumer Nigeria”) said on Monday that shareholders of the company have approved the sale of its beverage unit to Suntory Beverage & Food Nigeria Limited.

Euro Global Introduces Power Bitters Lite

Power-Bitters-lite

Euro Global Foods and Distilleries Limited, makers of a wide range of alcoholic and non-alcoholic beverages such as Sabrina Gin, Amphora range of wines, Julius Tonic wine, among others has introduced yet another drink into the market, Power Bitters Lite.

Power Bitters Lite is a lighter version of Power Bitters, which was introduced into the market in February. According to the company, the Lite version has lower alcohol content.