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 »

Nigerian Stock Exchange suspends trading of Seven-Up shares

The Nigerian Stock Exchange (“NSE”) announced on Friday that it was permanently suspending the trading in shares of Seven-Up Bottling Company Plc (“7-Up Bottling Company Plc”) on the floor of “The Exchange” as it tries to determine the shareholders who will receive the Scheme Consideration following the company’s majority shareholder, Affelka S.A (“Affelka”), buyout of the remaining shares of minority shareholders it does not already own.

Lactalis recalls baby milk in 83 countries over salmonella contamination

The Head of a French dairy firm Lactalis Group said on Sunday that its company has recalled 12 million cases of powdered baby milk in 83 countries that may have been possibly contaminated with salmonella.

The Chief Executive Officer (CEO) of Lactalis Group, Emmanuel Besnier said that the firm would compensate victims of salmonella-tainted baby milk that has sickened 37 children in France, one in Spain and a suspected case in Greece. The CEO added that the recalls were underway in an interview with French Journal du Dimanche newspaper. He said that the recall involved the Picot, Milumel, Celia and Taranis brands of powdered baby milk, adding that no new cases have been reported since 8th December, a week after the recall was first announced.

Seven-Up Minority shareholders agree to firm’s sale

Minority shareholders of Seven-Up Bottling Company Plc on Thursday 11th January 2018 voted to sell their shares to the majority shareholder, Affelka S.A. for ₦21.4bn ($66.5 million).

At a Court-Ordered Meeting in Lagos, shareholders approved the scheme of arrangement for the buyout. With the transfer of 26.8% minority shares to Affelka, the firm’s ownership of Seven-Up increases to 100%.

Affelka ups bid for Seven-Up

Seven-Up Bottling Company Plc announced on Wednesday that Affelka S.A. (“Affelka”), the majority shareholder of the firm has raised its offer price to acquire the remaining shares of minority shareholders it does not already own at a cost of ₦21.4bn ($66.5 million)

Future looks bright for the beverage industry – La Casera MD

The La casera Company, one of the leading soft drinks companies in Nigeria sees a bright future for the industry.

Speaking recently with the media, the company’s Managing Director, Roland Ebelt described the recession as a telling experience, noting that an industry that was once growing at a rate of between 5% and 10% per year since the 1990s suddenly came to a screeching halt due to a drop in consumer spending caused by the recession.

He noted that the depreciation of the naira had a profound impact on his firm and the industry as a whole as prices of raw materials such as sugar, plastic and other ingredients skyrocketed leading to record losses for industry participants.

Promasidor wins ‘Best Kept Industrial Premises Award’

Food and beverage firm Promasidor Nigeria Limited (PNL) has won this year’s ‘Best Kept Industrial Premises Award’ also known as ‘Total Compliance Inspection Competition’.

The award, which is organized by the Manufacturers Association of Nigeria (MAN), tries to address risk governance deficit in the industrial sector by rewarding best practices towards enabling and maintaining clean and safe work environments in industries.

Coca-Cola Nigeria trains Internally Displaced Women to start small scale businesses

Coca-Cola Nigeria Limited said it has provided 50 Internally Displaced (IDP) women with quality personal development and small business appreciation training as part of its 5by20 Women Economic Empowerment Initiative.

At a two-day programme tagged ‘IDP Women Value Chain Integration Programme’ held at Sesor Empowerment Foundation training complex in Igbo-Efon, Lekki, Lagos, on the 18th and 19th December 2017, the women were provided with adequate training that will enable them to start their respective small-scale businesses.

Nampak year-end result weighed by weak consumer demand, tough operating environment

Nampak Limited, South Africa-based beverage can, bottle and paper producer said that its full year results ending on 30th September were negatively impacted by economic headwinds, leading to decreased consumer spending characterized by trading down, product substitution and downsizing to smaller sizes.

The firm which is Africa’s largest manufacturer of cans, bottles, plastic and paper packaging for the food and beverage industry with operations in several African countries including Nigeria and the UK said that revenue for the 2016/2017 financial year fell 2% to R18.8bn ($1.37bn) with Operating profit before capital profit on sale and leaseback of properties growing 14% to R961m ($70m). However, net profit declined 76% to R356m ($26m), caused by the one-off comparison of R1.36bn ($99m) capital profit on sale and leaseback in 2016.

Rights Lawyer/Activist back FOBTOB; calls on AFBTE to meet workers’ demands

Human rights activist and labour lawyer, Mr. Femi Aborisade, has called on employers in the Food, Beverage and Tobacco sector, Association of Food, Beverage and Tobacco Employers (AFBTE) to accede to the demands of workers in the sector, (Food, Beverage and Tobacco Senior Staff Association) FOBTOB, by granting them the 20% pay rise they have sought and bring to an end the industrial strike.

Campari buys Distell’s Bisquit Cognac

Italy-based Gruppo Campari said it has signed an agreement to buy cognac brand Bisquit from South Africa’s Distell Group for €52.5m ($62m).

Commenting on the acquisition, Campari CEO Bob Kunze-Concewitz said, “We are very pleased to have acquired Bisquit Cognac, as it gives us the opportunity to expand our offering into the premium and growing cognac category.”