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IFF reports strong Q1 growth aided by beverages and confectionery

Double-digit growth in the beverage, savory and confectionery sectors helped International Flavors & Fragrances to achieve revenue of $714m in the first quarter of this year; nine per cent up...

Carlsberg CEO downplays threat of Russian PET beer bottle ban

The head of Carlsberg has downplayed a proposed ban on PET beer bottles in Russia, adding that he thinks it is not likely to become law.

News in brief

Nestle Waters buys up organic and natural tea company

Nestle Waters has agreed to buy Sweet Leaf Tea after investing $15.6m in the Texas-based iced tea company in 2009.

Diageo and Pernod Ricard enjoy strong sales start to 2011

Spirits rivals Diageo and Pernod Ricard are toasting a successful start to 2011, having beaten market expectations for the first three months of the year.

Pricing protects AB InBev from stagnant quarterly beer volumes

Higher prices have helped AB InBev post a 5.6 per cent increase in quarterly revenue despite bad weather in Brazil and persistent unemployment in the US.

EU gives the okay to big Brazilian orange juice merger

The European Commission has approved the merger of Citrovita and Citrosuco - two orange juice businesses that together process 40 per cent of the orange juice from Brazil.

Foster’s wine and beer split could pave way for bidders

Investors in Foster’s have voted overwhelmingly for a wine and beer demerger that analysts say could spark off a round of M&A bidding.

Coca-Cola is recovering better than PepsiCo in beverages, says analyst

PepsiCo has beaten analyst expectations for first quarter profits but Morning Star analyst Philip Gorham believes that in beverages Coca-Cola is recovering better from the recession.

Coca-Cola estimates financial fallout of Japanese earthquake

Coca-Cola has put a figure on the likely impact on its finances of the earthquake and tsunami in Japan after publishing first quarter results that fell slightly below Wall Street...

Coffee prices reach highest point since 1977

Speculative demand has pushed coffee prices up through the $3 a pound barrier, taking them to their highest level for over 30 years.

SABMiller faces final demand for huge Indian tax bill

India’s regulatory authorities have issued a final demand for beer brewing giant SABMiller to pay a $39.5m (£24m) tax bill following its acquisition of Australian brewer Fosters’ assets in the...

SABMiller invests $15m in South Sudan operations

SABMiller subsidiary Southern Sudan Beverages (SSBL) is investing $15m to expand production capacity at its two-year old brewery in Juba.

SABMiller improves guidance for Africa

SABMiller has increased its medium term guidance for its Africa division following significant capital investment in 2009 and 2010.

Regulator blocks Asahi's soft drink plans in Australia

Asahi’s proposed acquisition of P&N Beverages has met with opposition from Australian regulators, which are eager to maintain competition in the country’s highly concentrated soft drink market. ...

Brazilian rains dampen an upbeat AB Inbev

Persistently high unemployment rates in the US and heavy rains in Brazil are expected to dampen AB InBev volumes at the start of 2011.

Coffee commodity prices head towards all-time high

Coffee commodity prices are edging towards highs that were last seen in 1977 as carry over stock from last season runs low.

Carlsberg volumes slip on tough Russian comparison

Carlsberg has reported a sharp drop in organic beer volumes in the fourth quarter as the hike in Russian excise duties makes for a tough comparison with 2009.

Asian spurt prompts higher Pernod Ricard profit forecast

Pernod Ricard has upped its profit guidance for the full year as first half results indicate that sales momentum is building.

Diageo signs £1.3bn Turkish acquisition deal

Diageo has agreed a £1.3bn price tag for the Turkish spirits maker Mey Içki as the company works to deepen its presence in emerging markets.

Comment

Arab Revolt underlines the need for action to remedy high food prices

When Tunisian street vegetable vendor Mohamed Bouazizi chose to end his life in fiery suicide, no one could have foreseen the firestorm his death would unleash across the Arab world....

Heineken plans to target European volumes in 2011, FY results

Heineken has pledged to make European volume growth a priority after publishing full year results that revealed stronger than expected profit growth but falling turnover.

News in brief

Britvic creates 60 jobs at Rugby canning factory

Britvic has taken on around 60 new staff at its soft drinks canning factory in Rugby in preparation for a switch to round-the-clock production to meeting growing demand.

Soft drink rivals send out commodity cost warnings

PepsiCo and Coca-Cola Company have warned of cost inflation going into 2011 as both companies face up to commodity price increases.

Weak Euro economies dampen Diageo results

Diageo has taken a hit in the last 6 months of 2010 from weak performance in the struggling economies of Iberia, Greece and Ireland.

GLG says Chinese demand could help boost 2011 business by up to 60%

Stevia supplier GLG Life Tech has said its business is likely to increase by 50 to 60 percent in 2011 compared to a year earlier, mainly due to increased demand in China.

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