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Fosters to return A$500m to shareholders

Fosters intends to return at least A$500m to its shareholders, as the company tries to fend off the hostile offer SABMiller (SAB) made last week.

Amcor doubles profits, serves notice of growth acceleration

Amcor said its profits almost doubled last year on rising demand for both its flexible and rigid packaging and sooner-than expected benefits from its acquisition of Alcan.

Australia’s RFG signs deal for NZ coffee facility

Australia-based Retail Food Group (RFG) will acquire the assets of New Zealand-based Evolution Coffee Roasters Group (ECRG) in a deal the latter expects will bolster its existing portfolio of products...

Asahi to acquire Independent Liquor

Japan’s Asahi Group Holdings today announced an agreement to acquire 100% of Independent Liquor from Pacific Equity Partners and Unitas Capital in a 97.6bn Yen ($1.28bn) deal.

Fosters urges rejection of SABMiller offer

Fosters is advising shareholders to ignore SABMiller’s (SAB) latest takeover bid, saying the offer price “undervalues the company”.

Rapid production expansion prepares for ‘booming’ Scotch Whisky future, Euromonitor

Scotch Whisky manufacturers are in a drive to expand production capacity as the category expects to see healthy growth, particularly in emerging markets, says Euromonitor.

Europe helps drive Nestlé Waters’ sales growth

Nestlé Waters saw strong 5.8 per cent organic growth over the first six months of 2011 due partly to double digit sales in certain European markets.

Cranberry price fluctuates at 8th Ocean Spray auction

Ocean Spray saw price fluctuations compared to May auction levels as the cranberry leader sold 148,750 gallons of concentrate at its eighth auction since switching to the sales system in 2009.

Givaudan profits slump despite flavours growth

Flavour and fragrance firm Givaudan’s first half net profits crashed by 40 per cent as raw material costs and record currency rates take their toll on the Swiss company, despite...

New credit facility gives Silgan more flexibility

A new $1.9bn (€1.3bn) senior secured credit facility will provide Silgan with greater flexibility in regards to its strategic initiatives to make acquisitions, such as paying dividends, repurchasing stock and...

FMC tipped to make hydrocolloid acquisition

FMC Corporation is looking to expand its food ingredients portfolio as it strengthens its already strong position in the hydrocolloids market.

Dr Pepper Snapple’s profits down as costs rise

As Dr Pepper Snapple’s profit fell by six per cent, the firm announced a hike in prices to help offset soaring packaging, ingredient and transportation costs.

UK beer sales see largest drop in 14 years

Second quarter UK beer sales saw the biggest drop since 1997, according to new figures from the British Beer and Pub Association (BBPA).

SABMiller’s volumes rise fuelled by emerging markets

Volumes were boosted by continuing growth in emerging markets for SABMiller, who remained tight-lipped on its Fosters bid in its first quarter results.

PepsiCo and Coca-Cola’s profit aided by growth in emerging markets

Emerging markets were key to growth for beverage giants PepsiCo and Coca-Cola in the second quarter of 2011.

Coffee prices to remain high, Euromonitor

A delay in global harvests will contribute to lingering high coffee prices as the market struggles to bounce back from soaring costs earlier this year, according to Euromonitor.

French MP threatens tax hike on sweetened soft drinks

A politician from the ruling UMP party in France has put forward a proposal to more than triple value added tax (VAT) on sweetened soft drinks.

News in brief

Britvic confirms plans to move from Essex HQ

Soft drinks giant Britvic has confirmed that it is planning to move from its UK headquarters in Chelmsford, Essex.

Natural colours drive Chr Hansen Q3 results; probiotic uncertainty continues

The newly renamed Natural Colors Division was the star performer in Danish ingredients supplier Chr Hansen’s Q3 results, showing 34% organic sales growth for the quarter, compared to 5% for...

Asahi aims to boost global presence with Australian and NZ buys

Asahi is to proceed with two Australian and New Zealand soft drinks deals, with the aim of becoming one of the world’s top food and beverage companies.

News in brief

Coca-Cola Femsa buys up bottling business of Grupo Tampico

The largest independent Coca-Cola bottler in the world – Coca-Cola Femsa – has agreed to acquire the bottling operations of Grupo Tampico.

Diageo wins approval for marathon Chinese spirits deal

Diageo has gained approval from the Chinese authorities to take control of a local spirits manufacturer after some 16 months of waiting.

News in brief

CCA to sell Pacific Beverages stake if SAB Miller goes for Foster’s

Coca-Cola Amatil (CCA) has agreed to sell its stake in the Pacific Beverages joint venture to its partner SAB Miller if the latter acquires Foster’s.

Analysts lukewarm over SAB Miller’s move on Foster’s

SAB Miller is likely to go higher to secure the purchase of Foster’s, but with the Australian beer market in decline, analysts have questioned the potential value of a tie-up....

SAB Miller to persevere after bid for Foster’s is rejected

SAB Miller has promised to continue negotiations with the Foster’s board after its $10bn takeover bid was rejected.

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