Tag: Limited Coca-

Aare Fatai Odesile, the CEO of Grand Oak Limited is to step down from his post effective end of September. His resignation comes after 27 years of meritorious service at the Nigerian Distilleries Limited (NDL) and Grand Oak Limited (GOL), two indigenous spirits firms owned by the Lexcel Group of Companies. Odesile started his career with the Lexcel Group as a Quality Control/Production Officer with NDL in 1992 and rose through the ranks to the position of Managing Director/CEO of Grand Oak Limited, the marketing arm of Nigerian Distilleries Limited in 2016. Remarking on his time at the company, Odesile said, “I have enjoyed every bit of my stay in both NDL and GOL having risen to become the first entry level graduate to become the managing director of the company. “I remain eternally grate

Seven-Up Bottling Company, the bottlers of Pepsi-Cola in Nigeria has denied there is a fake Pepsi in the market. The manufacturer which also bottles Mirinda and Mountain Dew soft drinks among others explained that the Pepsi-Cola in white caps which is what has been the source of concern to consumers is genuine and the same with the Pepsi packaged in blue caps. Speaking further, the firm revealed that economic hardship in the country compelled it to switch to white caps when the cap suppliers could not get imported materials to make blue caps. The white caps are used as a temporary measure until the manufacturer can supply the blue caps. Confirming the message, a spokesperson for the firm, Mr. Mike Nzeagwa, invalidated the stories of fake Pepsi. “There is no fake Pepsi in circulation. The d

Food, Beverage and Tobacco Employers (AFBTE) Union have lamented the rising cost of doing business in Nigeria. The group said that the last one year had been toxic, pointing out that although Nigeria has emerged from a 15-month recession, the economy was still fragile. Speaking at the association’s Annual General Meeting (AGM) in Lagos, the President of AFBTE, chief Patrick Anegbe, listed part of the challenges to running a business in the country to include, high infrastructural cost due to non-availability or inadequate infrastructure, inconsistent imposition of multiple taxes, foreign exchange scarcity and disruption of petroleum products supply. “In general, the business environment has remained uninspiring. Due to this, the industry recorded quite a number of job losses in 2017 becaus

Lipton Yellow Label Tea from Unilever Nigeria Plc has commenced the third edition of its ‘Don’t Just Think, Do,’ campaign in mosques across Nigeria. The tea brand said the initiative is meant to encourage Nigerians to show commitment to selfless acts during the month of Ramadan and beyond. With activation unveiled in several mosques across Lagos and Kano states, Lipton said it has successfully built the ‘Do more Cities tour’ executed last year in Osun, Kwara, Abuja, Nasarawa, Kano, Kaduna, Sokoto, Yola, Bauchi, Borno states amongst others – with the objective of promoting love and care in local communities. The brand Manager, Lipton, Mrs Damilola Dania, said “We owe it to one another by going beyond the norm in order to spread love and show care to people all around us. We understand that

Coca-Cola HBC said on Friday that first quarter net sales revenue fell by 1.7% to €1.35bn, impacted by a 6.2% adverse currency translation, mainly from the depreciation of the Nigerian Naira and the Russian Rouble. The soft drinks giant, which operates in 28 mostly European countries and Nigeria and groups its businesses into three market segments suffered a big decline in its emerging markets segments, where net sales revenue fell by 8.4% to €576.1m from €628.9m in the prior year. The decline was blamed on currency depreciation of the Nigerian Naira and the Russian Rouble, two of its biggest markets. The company notes that volumes fell by 10% in Nigeria due to tough comparative in both volume and price compared to the prior year quarter as well as availability issues in certain packs. It

Suntory Beverage & Food Nigeria Limited, said it is seeking to double its revenue over the next five years by introducing new products and expanding its distribution network. The Nigerian unit of Japanese food and beverage company, Suntory Beverage & Food Ltd, said it planned to increase sales to ₦40bn ($111 million) from about ₦20bn, the company’s Managing Director, Chinedum Okereke said on a Monday interview with Bloomberg in Lagos. The boost in sales will increase the local unit’s contribution to its parent company’s sales in Africa, Middle East and the Caribbean by as much as 65%, he said. “We have made a lot of investments in what we call in-store visibility,” he said, adding that he wants consumers to see the company’s drinks in both open markets and new shopping malls. The company s

Anheuser-Busch InBev on Wednesday reported a 4.7% revenue growth for the first three months of 2018, driven by strong performance of its global premium brands and revenue management initiatives. The company said that total volumes declined by 0.2%, while its own beer volumes rose by 0.5%. Combined revenues of its three global premium brands – Budweiser, Stella Artois and Corona grew by 7.9%, with Corona outperforming other brands by 25.1% growth, followed by Stella Artois at 12.3% and Budweiser 2.5%. The brewer said that its integration with SABMiller which it acquired in 2016 is progressing well, with synergy capture and cost savings of $160 million during Q1 2018. Net profit for the period fell to $1.02bn from $1.45bn in the preceding year. Looking at the performance of the company on a

The Senate, on Tuesday called on the Federal Government to suspend the planned excise duty increase on locally produced alcoholic beverages set to go into effect on June 4th. The Upper Chamber of the National Assembly said that the increase which would raise the excise duty rate on alcoholic beverages from the current rate of 20% to 67% represents a 300% increase and should be suspended until there is a better understanding of the new policy by all stakeholders in the interest of the national economy. According to the senate, the measure to suspend the proposed rate hike is meant to safeguard the sector from complete collapse. The legislative body said it will initiate a stakeholder’s public hearing by referring the motion to the relevant committee for a full discussion with the Federal Go

Budweiser, a brand from the stables of International Breweries Plc, a subsidiary of Anheuser-Busch InBev, the Official Beer of the 2018 FIFA World Cup, on Tuesday launched its new global campaign “Light Up the FIFA World Cup.” The major highlights of the campaign feature drones delivering bottles of cold Budweiser to fans across the world in what the company refers to as “the largest beer delivery to date”. It plans to create a selection of integrated experiential, digital and social programs happening worldwide during the World Cup in Russia. The TVC features the journey of thousands of drones as they carry Budweiser bottles and kegs from the company’s St Louis brewery and a stopover in Lagos with the ultimate goal of delivering a stadium full of fans in Moscow. The commercial highlights

Coca-Cola has announced the unveiling of its flagship Coke sweetened with 100% Stevia sweetener in place of sugar in New Zealand, its chosen pilot market on 7 May 2018. The company said the launch is evidence of its continued efforts to encourage people to consume less sugar. Coca-Cola has been using Stevia, a plant-based sweetener that has zero calories with cane sugar in Coca-Cola Life which has 35% less calories than Classic Coke since 2013. It is now being marketed in 30 countries around the world. However, the challenge with Stevia has always been how to eliminate a bitter aftertaste which is why Coca-Cola Life is blended with sugar. The company said the difference now is that for the first time, it is using a specific part of the Stevia leaf that tastes great and has a clean aftertas...