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News in brief

Rexam shares jump on contract negotiation news

Shares in Rexam rose sharply yesterday on news that customer contract negotiations in the North American division of its beverage can business have been completed successfully.

UK cold snap contributes to Britvic UK’s tough quarter

Britvic has blamed last year’s snow and ‘adverse weather conditions’ for the drop in sales in its UK drinks sector during the company’s last quarter.

News in brief

PepsiCo gains Russian approval for Wimm-Bill-Dann deal

PepsiCo has received all the necessary regulatory approvals from the Russian authorities required to close its acquisition of Wimm-Bill-Dann.

Kirin enters new soft drink joint venture in China

Kirin Holdings has invested $400m in a new soft drinks joint venture with China Resources Enterprise as it looks for growth opportunities outside the stagnant Japanese market.

Refresco to take first step into Italian private label market

Refresco has made its first move into the Italian market for private label soft drinks by announcing its intention to buy biggest local player Spumador.

News in brief

Carlsberg ups ownership of leading Belarus brewer

Carlsberg Group has increased its ownership stake in OJSC Olivaria Brewery – the third biggest brewer in Belarus.

SABMiller posts better than expected European volumes

SABMiller has reported a three per cent increase lager volume in the third quarter, driven by better than expected volume in Europe and emerging markets.

Heineken buys up five Nigerian breweries

Heineken has acquired a controlling interest in five Nigerian breweries in a move that takes its share of the fast-growing market to over two-thirds.

Weekly comment

CAP reform circus re-opens - but this time it’s serious

Roll up, roll up, the Great CAP Reform Circus is back in town. Missing those long arguments about the future of farm support? Hungry for more debate about how best...

Britvic cuts 100 commercial jobs in Irish rethink

Britvic has revealed plans to cut as many as 100 jobs in Ireland as the soft drinks maker comes up against an economy in freefall.

News in brief

Nichols 2010 profits to beat market expectations

UK-based soft drinks firm Nichols has revealed in a pre-close trading statement that its full year profits will be ahead of current market expectations.

Wimm-Bill-Dann goes east as Russia approves PepsiCo deal

Wimm-Bill-Dann has acquired a dairy plant in eastern Russia as the government gives its approval for PepsiCo to acquire the company.

News in brief

Pernod Ricard completes sale of New Zealand wine brands

Pernod Ricard New Zealand has announced the completion of the sale of Lindauer and several other wine brands to a consortium of buyers for (NZD) $89m (around €50m).

Carlsberg sells Dresden brewery, increases China investment

Carlsberg has sold a brewery in Dresden to Frankfurter Brauhaus in order to focus on key brands in the region. The Danish brewer has also just increased its investment in...

Big brewers were right to go on the M&A trail, says Rabobank

A new Rabobank report suggests that the consolidation strategy employed by the biggest global brewers is paying dividends.

News in brief

PepsiCo ups investment in coconut water firm to majority stake

PepsiCo has increased its investment in coconut water company O.N.E. despite supply issues that have affected the market in 2010.

Comment

PepsiCo pays a high price for a gamble in Russian dairy

When PepsiCo put up $5.4bn last week to acquire Wimm-Bill-Dann, it was seduced by the promise of high revenue growth but like any high-yield investment the Russian deal does not...

PepsiCo to buy Wimm-Bill-Dann in eventual $5.4bn deal

PepsiCo has revealed its intention to buy 66 per cent of Wimm-Bill-Dann Foods for $3.8bn with plans to acquire the remaining shares following completion of the initial deal.

EC must reverse decision on out-of-quota sugar and release internally, CIUS

The CIUS is calling for the European Commission to act now to keep sugar supplies within the EU market rather than export the sweetener, with it claiming that EU based...

Workers 'dismay' as Twinings pockets €12m EU fund for new Polish site

Twinings workers are “genuinely dismayed” by news that the firm has signed a contract to recieve €12m of EU funding for a new Polish site that will see UK jobs...

Ball reports mixed can packaging picture in Q3

Ball Corporation has posted a slip in third quarter sales revenue from its European can sales revenue while its Americas & Asia division reported strong growth.

Poor weather contributes to Heineken volume slip in Q3

Europe’s biggest brewer Heineken has blamed disappointing third quarter sales volumes on bad weather and continued struggles in the Russian market.

Recovery prompts SABMiller to include Zimbabwe in results

SABMiller has reported a slight rise in half year volumes as it includes its Zimbabwe associate in its latest trading update for the first time in almost five years.

News in brief

Pernod Ricard sells off New Zealand wine brands

Pernod Ricard New Zealand has sold Lindauer and several other wine brands to a consortium of buyers for NZ $88m (about € 47m).

Saint-Gobain mulls packaging division IPO

Glass container giant Companie de Saint-Gobain has announced plans to float its packaging division on the stock exchange.

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