New York-based PepsiCo Inc announced on Monday it has acquired Israeli-based SodaStream, a maker of counter top machines for making carbonated drinks from water filled in a reusable bottle and flavours if desired.
The deal which cost PepsiCo $3.2bn will allow it broaden its offerings beyond sugary drinks and promote itself as a maker of “in-home beverage creation”, according to Mr. Hugh Johnston, PepsiCo’s Chief Financial Officer.
Coca-Cola Hellenic Bottling Company (“Coca-Cola HBC AG”), the parent company of the Nigerian Bottling Company (NBC) reported a 0.5% revenue growth for the first half of 2018 through June ending. Sales grew to €3.2bn, driven by a 4.6% volume lift across all markets, with the biggest gains coming from developing markets which grew 8.9%, followed by emerging markets at 5.1% and established markets at 0.9%.
The company which operates in 28 countries in Europe and Nigeria said that growth accelerated in the second quarter bolstered by new product launches, good weather and the FIFA World Cup.
Coca-Cola Nigeria Limited has announced it will host the second edition of its annual Customer Appreciation Golf Tournament as part of its global Customer Appreciation Week, to celebrate and acknowledge its loyal customers across Nigeria.
According to the beverage giant, the golf tournament will be held across three cities in Nigeria – Lagos, Ibadan and Abuja, and will be attended and contested by key stakeholders, distributors, customers and the media. There will be six winners emerging from the well contested 18 hole tournament for customers. The winners will get to travel on an all-expense paid trip to Mauritius to participate in the AfrAsia Mauritius Open Pro-Am Tournament in November.
The Lagos State Employment Trust Fund (LSETF), Coca-Cola Nigeria Ltd and its bottling partner, the Nigerian Bottling Company, have announced a partnership to empower 1,000 women in Lagos State.
The group said that through this partnership framework, the selected women would receive training in financial literacy and business skills as well as start-up capital to integrate them into the Coca-Cola value chain as retailers of the company’s beverage products.
Beta Glass Plc announced on Thursday the appointment of Ms. Adebola Ayobami Adebisi as its new Company Secretary effective 5 July 2018.
According to the company, Ms. Adebisi will replace Ms. Y. Titi Talabi.
Krispy Kreme has said it is cooperating with Nigerian food regulator and consumer protection agency to resolve issues that led to the shutdown of its store in Victoria Island, Lagos.
In a statement released by the company through its franchise operator, QFA Nigeria Limited, the company said it is fully cooperating with authorities in addressing concerns of product expiry date tampering without regulatory approval in its Victoria Island, Lagos store.
Cadbury Nigeria Plc, reported a net loss of N424m for the first six months of 2018, hurt by rising cost.
The Bournvita maker which emerged from a loss position at the end of 2017 said that a high selling and distribution expense and high net finance cost (Bank interest charges) erased all gains made in the period under review.
Beta Glass Plc reported a strong first half in 2018, a continuation of the growth acceleration begun in the first quarter. The company saw revenue growth of 49% to ₦13.1bn, driven by a 54% sales surge in the second quarter to ₦6.7bn.
Champion Breweries plc, said that net profit for the six months to the end of June 2018 fell by 6.53% to N80.5m from N86m in the same period in 2017.
The Akwa Ibom based brewer blamed the decline on rising cost of selling and distribution expenses, which rose 95% in the period to N347m. The second quarter saw a 127% spike in selling and distribution cost to N226m.
International Breweries Plc, the Nigerian subsidiary of AB InBev has seen its losses widen in the first half of 2018 to N2.8bn, from N2.2bn in the first quarter.
The loss came despite a strong revenue boost of N53bn in the first half.
