Monthly Archives: August 2016

South Africa’s Distell Group sees full-year revenue and profit rise amid volatile trading environment

August 31, 2016   Editor   No comments

South Africa’s leading wines, spirits and cider producer, Distell Group Ltd, said on Wednesday that full-year revenue for period ending 30 June 2016 rose 9.6% to R21.5bn rand ($1.46bn), helped by a deepening of market penetration in its home market where it now has access to 36,000 outlets across the country.

Distell which also makes ciders such as Savanna, Hunter gold, Hunter Dry, among others said that revenue in its home front climbed 12.1% to R15.4bn ($1.05bn) on a 9% volume lift during a period of contraction in the economy and pressure on consumer spending.

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Brown-Forman reports revenue and profit decline in Quarter 1

August 31, 2016   Editor   No comments

Brown-Forman Corp, maker of Jack Daniels whiskey, Woodford Reserve, Gentleman Jack, among others said on Wednesday that revenue for the first quarter fell 5% to $661m.

The company blamed the drop in sales on foreign exchange headwinds in emerging markets and the disposal of two of its brands, Southern Comfort and Tuaca during the period under review.

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Mondelez backs out of bid to acquire Hershey

August 30, 2016   Editor   No comments

Mondelez International, Inc, the US-based global beverage and confectionery behemoth behind such names as Cadbury, among others said on Monday it was backing out of a $23bn bid to acquire US chocolate candy maker Hershey.

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GSK Consumer Nigeria extends deal closure date

August 30, 2016   Editor   No comments

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.

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Mexico weighs doubling sugar tax on sugary drinks

August 29, 2016   Editor   No comments

Health advocates in Mexico are recommending the government double the tax on sugary drinks to curb rising obesity and at the same time raise revenue.

Supporters of a higher levy on sweetened beverages say that the 10% surcharge initially placed on fizzy drinks three years ago have had no effect on its consumption and industry sales.

Mexican government has taken in about $2.5bn in revenue since the surcharge was introduced, more than they had expected.

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Heineken launches “Heineken 3”, mid-strength beer targeting day drinkers

August 26, 2016   Editor   No comments

Dutch brewer, Heineken unveiled its newest creation on Friday in Australia. The new brand named “Heineken 3” is a premium mid-strength extension of its famous brand with lower calories and carbs.

“Heineken 3 has only 86 calories per bottle, 5g carbs and 3.3 per cent ABV so consumers no longer have to compromise on taste and premium experience when choosing a lower calorie beer,” the company said.

It would be the first product launched by the company in 20 years. Heineken is spending AUS$6 million in a marketing blitz to get people to drink the brew.

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AB InBev to ax 5,500 jobs following SABMiller merger

August 26, 2016   Editor   No comments

Anheuser-Busch InBev (AB InBev) said on Friday that its merger with SABMiller could result in thousands of job losses across the globe as it consolidates its operations.

The Belgian-Brazilian brewer, which has a reputation for aggressive cost-cutting expects to eliminate about 3% of its combined workforce in the three years following the completion of the merger.

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Marriage of football and beer as Star Lager becomes first official beer sponsor of NPFL

August 26, 2016   Editor   No comments

Star Lager beer, Nigeria’s leading beer brand from the stables of Nigerian Breweries Plc, yesterday announced a partnership with the Nigerian Professional Football League (NPFL), to become the first official beer sponsor of the NPFL.

The event brought together stakeholders in the Nigerian football industry to celebrate a milestone in the country’s football history.

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Tony Agenmonmen, Senior Strategy Manager At Nigerian Breweries Retires

August 25, 2016   Editor   No comments

Mr. Tony Agenmonmen, Senior Strategy Manager at Nigerian Breweries Plc has retired from the company after 32 years of meritorious service.

An elaborate send-off party was held for him over the weekend at Eko Hotel & Suites, Victoria Island, Lagos by the management and staff of Nigerian Breweries Plc in appreciation for his immense contribution to the company.

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NUFBTE commissions second phase of Food Union Hotels amid pomp

August 25, 2016   Editor   No comments

The National Union of Food Beverage and Tobacco Employees (NUFBTE) celebrated the commissioning of the second phase of the Food Union Hotels and Suites, on August 12, 2016 in Ojodu-Berger, Lagos State.

The project which was conceived by NUFBTE was officially commissioned by Honourable Minister of Labour and Employment, Dr. Chris Ngige, alongside the President of the Nigerian Labour Congress (NLC), Comrade Dr. Ayuba Wabba.

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