Tag Archives: Suntory Beverage & Food Nigeria Ltd

Suntory Food & Beverage ends year on a high note

Suntory Food & Beverage Limited, reported its full year results, with sales increasing 2.1% to ¥1.4 trillion yen ($12.3bn).

The maker of Lucozade and Ribena said it achieved higher revenue growth as a result of aggressive marketing and cost reduction initiatives it carried out on its main brands.

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 biggest soft drinks maker in Nigeria and bottler of the famed Coca-Cola brand have raised its prices across the board as it continues to battle macroeconomic challenges such as continued naira devaluation, inflation and higher input cost of imported raw materials.

Health industry accused of sabotaging efforts to reduce sugar content in sweetened beverages

Advocates of sugar-tax on sweetened beverages such as Carbonated Soft Drinks (CSDs) in Nigeria say that health organisations as well as medical and public health institutions have been enabling the rise in new cases of diabetes and other non-communicable diseases (NCDs) in the country by accepting billions of naira in donations from soft drink manufacturers in the form of Social Responsibility donations.

GSK Consumer Nigeria earnings sink amid FX loss

GlaxoSmithKline Consumer Nigeria Plc (“GSK Consumer Nigeria Plc”) on Friday reported a net loss of N4bn for the 9-months ending 30th September 2016.

The company which in October finalized the sale of its drinks business (Lucozade and Ribena) including bottling and distribution to Suntory Beverage and Food Nigeria Limited cited unrealized foreign exchange loss of N6.5bn caused by the impact of Naira devaluation for its poor performance.

Suntory officially takes over Lucozade and Ribena brands

Suntory Beverage & Food Nigeria Limited announced on Tuesday its plans to expand its presence in the Nigerian food and beverage market as the new owners of the beverage brands, Lucozade and Ribena.

The announcement came after the completion of the sale of the drinks, bottling and distribution business by GSK Consumer Nigeria Plc to Japanese global beverage company, Suntory Beverage & Food.

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.

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.

Currency headwinds dent Suntory’s half-year profits

Suntory Beverage & Food Limited, the Japanese parent of the newly acquired GSK Consumer Nigerian Plc unit, said on Friday that half-year profits fell 4.8% to ¥17.9bn yen ($177m).

The beverage company which derived 38% of its half-year sales from overseas markets said that a stronger yen affected earnings growth. Net income would have risen 3.1% if it wasn’t for currency volatility, the company said. Suntory is forecasting further decline in profits for the rest of the year, with ¥40.5 billion yen forecasted for the 12-month period.

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.

GSK Nigeria dispels rumours of pending lay-offs after sale of beverage business

GlaxoSmithKline Consumer Nigeria Plc (GSK Nigeria) has put to rest fears of planned lay-offs post sale of its beverage business to Suntory.

Speaking to journalists in Lagos, GSK’s company Secretary, Mr. Uchenna Uwechia, said that the company’s Board of Directors has accepted Suntory Beverage & Food Limited offer to buy its beverage bottling and distribution business.

He noted that the Nigerian Stock Exchange (NSE) has been informed of its proposed plan to sell its beverage business as part of a post listing requirement of the exchange.