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Lagging sales in core brands crimp PepsiCo’s 3Q sales

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Soft drinks giant PepsiCo said on Tuesday that a focus on healthier and low-calorie drinks may have hurt third quarter sales. The company’s CEO Indra Nooyi said that the company stocked shelf space with more of its newer, low-calorie drinks and spent too much on marketing promoting them at the expense of its core brands such and Pepsi and Mountain Dew. PepsiCo, like all soft drinks companies have been playing a balancing act to reformulate its portfolio to reflect changing consumer tastes towards healthier, low-calorie beverages and away from high-calorie drinks. So the company has to weigh between growth of its newer low-calorie drinks and defending its position as the bulk of the firm’s beverage sales still come from its core brands –Pepsi and Mountain Dew. “We’re on a multiyear journey

Guinness Nigeria N40bn Rights Issue oversubscribed

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Guinness Nigeria Plc, said on Wednesday that its share sale to existing shareholders to raise N39.7bn ($126m) was oversubscribed by 16%. The Nigerian subsidiary of drinks maker Diageo Plc said it sold five shares from the company for every 11 held by shareholders, at N58 naira per share. The company noted that two shareholders applied for 50 million shares and above during the share sale. Diageo which holds 54% majority stake in Guinness Nigeria had said it was willing to participate in the rights issue to maintain its shareholding. Guinness Nigeria has been seeking to raise funds to bolster its balance sheet after suffering quarterly losses over the last 12 months.Powered by WPeMatico

FrieslandCampina WAMCO Inspires 8 Young Researchers at 47th AGM and Scientific Conference of the Nutrition Society of Nigeria

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FrieslandCampina WAMCO, makers of Peak and Three Crowns milk awarded cash prizes to eight young Nigerian nutritionists for their excellent scientific research presentations at the just concluded 47th Annual General Meeting and Scientific Conference of the Nutrition Society of Nigeria. The awardees are all MSc & PhD students below age 35. They are Ifeoma Ezeh, Yetunde Ogundairo, Chukwuka Oluebube and Joy Amadi. Others are Michael Oderinde, Ebunoluwa Odeyinde, Chinenye Ekwueme and John Ebenezer. Tagged “Controversies in Nutrition: Separating Facts from Fads and Fallacies” the five-day conference was held at the University of Ibadan, Oyo State, and it had over 600 participants. FrieslandCampina WAMCO also championed fitness routines for the delegates. The company organised 15-minute twice-dai

AB InBev completes divestment of interest in Coca-Cola Beverages Africa

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Anheuser-Busch InBev announced on Wednesday that it had completed the sale of its 54.5% equity stake in Coca-Cola Beverages Africa (CCBA), the continents largest Coke bottler to The Coca-Cola Company (TCCC) for $3.15bn after customary adjustments, as announced on December 21, 2016. CCBA was formed in 2016 through the merger of SABMiller’s African non-alcoholic beverage interest with The Coca-Cola Company’s South African operations and the Gutsche Family Investments, the owners of South African-based Coca-Cola Sabco. The combination includes bottling operations in South Africa, Namibia, Kenya, Uganda, Tanzania, Ethiopia, Mozambique, Ghana, Mayotte and Comoros. Following the big beer merger of 2016 which saw AB InBev acquire SABMiller, AB InBev by default inherited SABMIller’s ownership stak

IBPlc Foundation calls on S’West indegenous Entrepreneurs to apply for its Kickstart entrepreneurship scheme

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International Breweries Plc Foundation has called on indigenous entrepreneurs, who are solving some of the social problems facing the South-West region of the country, to apply for its ‘KickStart’ programme. In a statement on Tuesday, the company said, “Online applications open October 9 and closes on November 6, 2017. This year’s applications can be filled and completed by visiting the International Breweries Plc Foundation KickStart website.” The foundation explained that it came up with the idea because it wanted to contribute to poverty reduction and instill a culture of entrepreneurship “by giving ambitious young entrepreneurs encouragement and practical help to get the business of their dreams off the ground and onto greater heights. “Since its inception, the KickStart programme has

Nestle Nigeria appoints Jagdish Kumar Singla as new Finance & Control Director

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Nestle Nigeria Plc has announced the appointment of Mr. Jagdish Kumar Singla to the position of Finance & Control Director effective 1 January 2018. Mr. Singla will be taking over from Mr. Syed Saiful Islam, the current Finance & Control Director who is being transferred to Nestle Pakistan with effect from 1 January 2018. Mr. Singla who has been the Country Controller of Nestle Sri Lanka since 2014 joined Nestle India in 1990 and served in various roles at the company’s Moga Factory and in Management Accounting at Nestle’s Head Office in Switzerland. He also worked as Nestle’s Factory Controller in Shuangcheng, China from 1997 and later as Business Controller for Nestle Milks and Nutrition for Greater China Region. In 2004, he returned to the Moga Factory in India and in 2008, was appointe

Nestle Nigeria rolls-out Milo RTD as competition heats up in the RTD Cocoa, milk and malt segment

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Nestle Nigeria Plc on Tuesday at its Lagos Headquarters unveiled a ready-to-drink version of MILO, the company’s flagship brand. The company which launched the new RTD at a Retailers’ Conference said that the product is made from natural products like cocoa, malt and milk, adding that it contains no preservatives and provides essential nutrients such as proteins as well as Nestle’s blend of vitamins, ACTIVE-GO (vitamins B3, B2, B6, B12, Vitamins C & D) and minerals including calcium and iron. In a statement on Wednesday, the company’s Corporate Communications & Public Affairs Manager, Victoria Uwadoka, stressed that the product’s packaging had made it easy for parents to give their children adequate nutrition. While commenting on the launch, Mauricio Alarcon, Nestle Nigeria’s Managing Dire

Coca-Cola HBC CEO Dimitris Lois passes on

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Coca-Cola Hellenic Bottling Company (HBC AG), one of the world’s biggest Coke bottlers and the parent company of the Nigerian Bottling Company (“NBC”) have announced the death of its long-serving CEO Dimitris Lois. The company which is based in Zug, Switzerland said in a statement on Tuesday: “We are deeply saddened by the news of Dimitris’s death. It was a great privilege to know him personally and to work alongside him for so many years,” said Anastassis David, Chairman of the Board of Directors of Coca‑Cola HBC. “Dimitris will always be remembered for his dedication to our people and for the values he stood for.” Michalis Imellos will continue in the role of Acting CEO. Further announcements will be made in due course, Coca-Cola HBC said. The company announced in September that Lois wou

NB to announce winners of Golden Pen Award on Oct. 6

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Nigerian Breweries Plc has concluded plans to hold the ninth edition of its Golden Pen Awards aimed at rewarding media excellence, on October 6, 2017, at the Zinnia Hall of Eko Hotel and Suites, Victoria Island, Lagos. The company announced that over 250 entries were received when submission closed for this year’s award which focuses on published reports on Agriculture, Local Sourcing and Industrial Development in 2016. At the ceremony, journalists who distinguished themselves in those subject areas will be rewarded in three categories. “The Nigerian Breweries Golden Pen Reporter of the Year” will be rewarded with a special statuette and N2, 000, 000 (Two Million Naira), the First Runner Up in the same category will get a special statuette and N1, 000, 000 (One Million Naira) while the Sec

The Palestinians try to reconcile

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Mr Hamdallah (right) tries to shake loose some concessions IT MUST have felt like déjà vu for Rami Hamdallah, the Palestinian prime minister, as he crossed the heavily-fortified border into Gaza on October 2nd. It was his first visit in two-and-a-half years. There were speeches, rallies and lofty promises to end the schism that has paralysed Palestinian politics for more than a decade. It was like a replay of a trip he made in 2014 to inaugurate a new unity government— which fell apart within weeks. The Palestinian territories split in 2007, a year after Hamas, the militant Islamist group, won a majority in parliament. It seized control of Gaza after months of bloody fighting with its nationalist rival, Fatah. Since then Hamas has run the coastal strip as a separate fief, with its own c