Tag: Beverages

Rémy Cointreau nine months results bolstered by robust Cognac sales in Asia Pacific

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Rémy Cointreau Group on Friday reported a 3% revenue growth for the first nine months of its 2017/18 financial year ending in December. Sales rose to €862.1 million from €836.7 million, helped by robust growth of its Rémy Martin cognac brand which posted a 7.9% growth to €576.6m, contributing 67% of the overall group’s sales. The group benefitted from continued growth of the Rémy Martin cognac brands in the Asia Pacific region, despite a high basis of comparison in the third quarter and the late timing of 2018 Chinese New Year (sales delayed to the fourth quarter). The Chinese New Year starts on February 16 this year, delaying its positive impact on sales to Remy Cointreau’s fourth quarter. The French-based spirits firm also got some help from strong demand for its cognac brands in the Uni

Coca-Cola commits to 100% recycled packaging by 2030

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Soft drinks giant Coca-Cola announced on Friday an ambitious goal to recycle every bottle or can it produces by 2030. The firm which operates in over 200 countries and markets more than 500 brands of soft drinks, juices, water and tea admitted its part in littering the environment and a responsibility to tackle the problem. In a statement released by the company’s chief executive officer, James Quincey, he said “The world has a packaging problem and, like all companies, we have a responsibility to help solve it,” he said. Coca-Cola called its new campaign “World Without Waste,” and through it “we are investing in our planet and our packaging to help make this problem a thing of the past,” he said. Coke said it is also working to reduce waste by using an average of 50% recycled content in i

Diageo to trademark ‘Jane Walker’

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Diageo is keeping mum on reports that it is planning to unveil a new Scotch whisky under the ‘Jane Walker’ name. According to a report by US celebrity news site TMZ, the Johnnie Walker maker “filed paperwork in early January to trademark the name Jane Walker for alcoholic beverages except beer”. A spokesperson for Diageo would not comment on the story except to say “If and when we have more to say – we’ll let you know.” The drinks company submitted a trademark application to the United States Patent and Trademark Office earlier in January. In addition, the firm submitted labels in an application to the Alcohol and Tobacco Tax and Trade Bureau (TTB) which showed a drawing of a woman dressed similar to the iconic striding man logo, and a bottle label stating “The Jane Walker Edition”.Powered

Coca-Cola to become Official Sponsor of Nigerian Football Federation

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Coca-Cola Nigeria and the Nigerian Football Federation (NFF) on Wednesday announced a partnership which will see the soft drinks giant become an official sponsor of all the country’s national teams. The NFF made the announcement at the official signing ceremony which took place at the Eko Hotel & Suites, Victoria Island, Lagos. Present at the ceremony were NFF officials including its President, Amaju Pinnick, NFF Vice President and Chairman, League Management Company (LMC), Mallam Shehu Dikko, Super Eagles Coach, Gernot Rohr, the Managing Director of the Nigerian Bottling Company (NBC), George Polymenakos, and Managing Director of Coca-Cola Nigeria Limited, Bhupendra Suri, among others. Pinnick said: “We are delighted to be associated with a super brand like Coca-Cola. A lot of good is hap

Nigerian Stock Exchange suspends trading of Seven-Up shares

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The Nigerian Stock Exchange (“NSE”) announced on Friday that it was permanently suspending the trading in shares of Seven-Up Bottling Company Plc (“7-Up Bottling Company Plc”) on the floor of “The Exchange” as it tries to determine the shareholders who will receive the Scheme Consideration following the company’s majority shareholder, Affelka S.A (“Affelka”), buyout of the remaining shares of minority shareholders it does not already own. In a note published on Friday, 12 January, the Exchange said that “Dealing Members are hereby notified that trading in the shares of 7-Up Bottling Company Plc has been placed on full suspension on the NSE with effect from today, 12 January 2018.” Seven-Up shareholders passed a resolution at a Court-Ordered Meeting of the company held on Thursday, 11 Janua

Lactalis recalls baby milk in 83 countries over salmonella contamination

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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

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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

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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