Sports drink sales boost Quaker Q4 results
15 per cent rise in fourth quarter profit, excluding charges, and
said its sale to...
Quaker Oats, the US food and beverage group, on Thursday reported a 15 per cent rise in fourth quarter profit, excluding charges, and said its sale to PepsiCo could close in the second quarter this year, the Financial Times reports. Pepsi agreed to buy Quaker in December for $13.4bn, though the companies are awaiting federal regulatory approval. Quaker, manufacturer of the Gatorade sports drink, said that the results were helped by sales of the sports drink that grew by at least 10 per cent in the quarter and broke $2bn for the year. The company warned that it expected earnings in the first quarter to be flat - under expectations - because of high comparisons with last year's roll-out of new products.