Month: October 2017

House Panel summons soft drinks firms over high levels of additives found in drinks

BUSINESS, New Products, News, NIGERIA, Nigerian state programs, wazobia companies
An ad hoc Committee of the Federal House of Representatives has sent out summons to 91 carbonated soft drinks producers in the country to appear before it and respond to allegations of harmful additives found in some soft drinks sold in the country. According to the directive, some of the companies invited to appear before the committee includes the Nigerian Botting Company Limited (NBC), makers of Coca-Cola, Fanta and Sprite soft drinks. Others are Seven-Up Bottling Company Plc; Sona Group; Guinness Nigeria Plc; Nestle Nigeria Plc; Jos International Breweries Plc; GlaxoSmithKline Nigeria Plc, and Cadbury Nigeria Plc. Also invited to appear before the panel is Nigerian Breweries Plc (“NB”); Nigerian Distilleries Limited (“NDL”); Champion Breweries Plc; International Breweries Plc (IBPlc”);

Pernod Ricard Q1 sales boosted by international brands, growth in China

BUSINESS, New Products, News, NIGERIA, Nigerian state programs, wazobia companies
Pernod Ricard, the world’s no 2 spirits company by sales reported a 2% revenue growth in the first quarter ended 30 September. The spirits maker said that sales rose to €2.29bn ($2.69bn), up from €2.25bn in the previous year. The company said sales received a boost from its international brands, which grew 8% in the period and includes names like Absolut vodka, Jameson Irish Whisky, Ballantine’s and Malibu. The firm notes that its wines also had a strong quarter, posting 8% growth. “We have had a very good start to the year, with our growth accelerating and diversifying in terms of both markets and brands,” said CEO Alexandre Ricard. The spirits maker said that its first quarter sales were driven by a stepped-up Chinese demand for its high-margin Martell cognac and Chivas whisky resulting

International Breweries merger moves a step closer to completion, gets shareholders’ approval

BUSINESS, New Products, News, NIGERIA, Nigerian state programs, wazobia companies
International Breweries Plc (“IBPlc”), said on Thursday that its shareholders and the shareholders of Intafact Beverages Limited and Pabod Breweries Limited (the “merging entities”) have approved the merger of all three companies. With approval received from the shareholders of the merging entities, the company said it will will seek final regulatory approvals from the Nigerian Securities and Exchange Commission (“SEC”) and the Nigerian Stock Exchange (“NSE”), as well as the sanction by the Federal High Court (“FHC”), after which, the merger becomes effective. IBPlc, announced in early June that its board as well as the Board of Intafact and Pabod had agreed to explore a merger of their respective operations subject to regulatory and shareholder approvals. All three companies are indirect

Nestle Nigeria unveils new ad celebrating farmers whose work make Golden Morn available to families

BUSINESS, New Products, News, NIGERIA, Nigerian state programs, wazobia companies
Nestle Nigeria Plc, makers of Golden Morn, a cereal made from maize and soya has just unveiled a new ad on the back of the brand’s packaging featuring three sets of photos of farmers who grow the maize and soya used in making the product. The company said it is part of its creating shared value to celebrate the farmers whose labour of love brings Golden Morn to families across Nigeria. Golden Morn was introduced in Nigeria more than 24 years ago. The company noted that part of creating shared value is supporting farmers by making sure food is available to their families and they have all training they need to run profitable farms. “For every pack of Golden Morn you buy, you leave smiles on the faces of the Golden Morn farmers and their families,” the company said. Watch the videos below an