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Lactalis recalls baby milk in 83 countries over salmonella contamination

BUSINESS, New Products, News, NIGERIA, Nigerian state programs, wazobia companies
The Head of a French dairy firm Lactalis Group said on Sunday that its company has recalled 12 million cases of powdered baby milk in 83 countries that may have been possibly contaminated with salmonella. The Chief Executive Officer (CEO) of Lactalis Group, Emmanuel Besnier said that the firm would compensate victims of salmonella-tainted baby milk that has sickened 37 children in France, one in Spain and a suspected case in Greece. The CEO added that the recalls were underway in an interview with French Journal du Dimanche newspaper. He said that the recall involved the Picot, Milumel, Celia and Taranis brands of powdered baby milk, adding that no new cases have been reported since 8th December, a week after the recall was first announced. “We are going to draw the lessons from this crisi

Seven-Up Minority shareholders agree to firm’s sale

BUSINESS, New Products, News, NIGERIA, Nigerian state programs, wazobia companies
Minority shareholders of Seven-Up Bottling Company Plc on Thursday 11th January 2018 voted to sell their shares to the majority shareholder, Affelka S.A. for ₦21.4bn ($66.5 million). At a Court-Ordered Meeting in Lagos, shareholders approved the scheme of arrangement for the buyout. With the transfer of 26.8% minority shares to Affelka, the firm’s ownership of Seven-Up increases to 100%. The Scheme of Arrangement requires Affelka to pay minority shareholders of Seven-Up ₦125 Per Share for the remaining 171,542,574 million shares, a 22.6% premium to the last traded share price of the company on 9th January 2018, and a 27.6% premium to the price on 10th August 2017 which was the last business day prior to the date the initial proposal was received from Affelka. Chairman, Seven-Up Bottling Co

Affelka ups bid for Seven-Up

BUSINESS, New Products, News, NIGERIA, Nigerian state programs, wazobia companies
Seven-Up Bottling Company Plc announced on Wednesday that Affelka S.A. (“Affelka”), the majority shareholder of the firm has raised its offer price to acquire the remaining shares of minority shareholders it does not already own at a cost of ₦21.4bn ($66.5 million) In a note sent to the Nigerian Stock Exchange (NSE), the soft drinks company said that Affelka has revised its offer upwards to ₦125 per share, from ₦112.70 (One hundred and twelve naira and seventy kobo) for the 171,542,574 million shares held by minority shareholders. The statement further said that the new proposed Scheme Consideration represents a 22.6% premium to the last traded share price of the company on 9th January 2018, and a 27.6% premium to the price on 10th August 2017 which was the last business day prior to the d

Coca-Cola Nigeria trains Internally Displaced Women to start small scale businesses

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Coca-Cola Nigeria Limited said it has provided 50 Internally Displaced (IDP) women with quality personal development and small business appreciation training as part of its 5by20 Women Economic Empowerment Initiative. At a two-day programme tagged ‘IDP Women Value Chain Integration Programme’ held at Sesor Empowerment Foundation training complex in Igbo-Efon, Lekki, Lagos, on the 18th and 19th December 2017, the women were provided with adequate training that will enable them to start their respective small-scale businesses. Speaking on the scheme, Amaka Onyemelukwe, Public Affairs and Communications Manager, Coca-Cola Nigeria said “We believe there is no better investment than women to spur economic growth and foster sustainable development. Women are pillars of the communities we serve a

Nampak year-end result weighed by weak consumer demand, tough operating environment

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Nampak Limited, South Africa-based beverage can, bottle and paper producer said that its full year results ending on 30th September were negatively impacted by economic headwinds, leading to decreased consumer spending characterized by trading down, product substitution and downsizing to smaller sizes. The firm which is Africa’s largest manufacturer of cans, bottles, plastic and paper packaging for the food and beverage industry with operations in several African countries including Nigeria and the UK said that revenue for the 2016/2017 financial year fell 2% to R18.8bn ($1.37bn) with Operating profit before capital profit on sale and leaseback of properties growing 14% to R961m ($70m). However, net profit declined 76% to R356m ($26m), caused by the one-off comparison of R1.36bn ($99m) cap

Rights Lawyer/Activist back FOBTOB; calls on AFBTE to meet workers’ demands

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Human rights activist and labour lawyer, Mr. Femi Aborisade, has called on employers in the Food, Beverage and Tobacco sector, Association of Food, Beverage and Tobacco Employers (AFBTE) to accede to the demands of workers in the sector, (Food, Beverage and Tobacco Senior Staff Association) FOBTOB, by granting them the 20% pay rise they have sought and bring to an end the industrial strike. The labour activist said that despite the economic difficulties the country was experiencing, the food, beverage and tobacco industry has witnessed strong growth in both revenue and profits. He cited the most recent financial results of International Breweries Plc (IBPlc) and Nestle Nigeria Plc to bolster his claim that employers in the sector has seen appreciable gains in their businesses and therefore...

Campari buys Distell’s Bisquit Cognac

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Italy-based Gruppo Campari said it has signed an agreement to buy cognac brand Bisquit from South Africa’s Distell Group for €52.5m ($62m). Commenting on the acquisition, Campari CEO Bob Kunze-Concewitz said, “We are very pleased to have acquired Bisquit Cognac, as it gives us the opportunity to expand our offering into the premium and growing cognac category.” Continuing he said, “From a distribution standpoint we further strengthen our route-to-market, particularly in our recently established South African market, with potential upsides to further develop the newly acquired business internationally, particularly in US and China, the key regions for the premium cognac category. Moreover we further increase our exposure to the premium on-premise distribution channel, across both developed

Schweppes Novida unveiled in Nigeria

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Schweppes Novida Pineapple, a product of the Coca-Cola Company was recently launched in Lagos on 15th December 2017 amid fanfare. The brand threw an extravagant, classy black carpet party headlined by music crooner DBanj, which also had performances from Ayo Drums and very lively, classic tunes from Godwin the violinist. The new variant of Schweppes is a flavoured Non-alcoholic malt beverage. According to the brand handlers, Novida means New Life in Portuguese. Immediately after the unveiling, guests were handed with bottles of Schweppes Novida both to drink at the event and little drink packs to go. Schweppes Novida is already available in some African markets like Kenya and Zimbabwe.Powered by WPeMatico

Promasidor holds Annual Distributors Award in Dubai

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Promasidor Nigeria Limited, makers of Cowbell and Loya Milk, Top Tea and others held its Annual Distributors Award Forum this year in Dubai. The event was attended by the company’s top officials including its Managing Director, Mr. Anders Einarsson, Regional Sales Manager, North Central, Mr. Fakulude Bamidele and its most valued distributors. The most valued distributors were treated to the sights and sounds of Dubai, shown gratitude and rewarded with prizes. The distributors were also shown the latest trends in Marketing and distribution.Powered by WPeMatico

Football great Thierry Henry unveiled as Guinness Nigeria Brand Ambassador

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Guinness Nigeria Plc on Sunday unveiled Arsenal and France legend Thierry Henry as the ambassador for their ‘Made of Black’ campaign. The unveiling ceremony took place along with a media press conference at the Landmark Event Centre, Victoria Island, Lagos. Present at the unveiling ceremony were Legal Director and Company Secretary, Guinness Nigeria Plc, Rotimi Odusola; Marketing and Innovation Director, Guinness Nigeria Plc, Adenike Adebola; Managing Director, Guinness Nigeria Plc, Peter Ndegwa; Corporate Relations Director, Guinness Nigeria Plc, Viola Graham-Douglas; and Marketing Manager, Premium Core Brands, Guinness Nigeria Plc. Part of the events organised for the unveiling included Henry being taught how to cook and eat Nigerian jollof rice and also photo sessions with football fans