Creditors of South Korea's Haitai Confectionery will arrange $304.3
million in loans to sweeten the sale of the insolvent company to a
UBS Capital-led group.
In the first four months of the year, Malaysia's worldwide exports
of food products reached Euro 363 m. The figure for the entire year
is set to increase beyond last year's figure of Euro 1.14 bn.
On July 12, Mexico's Federal Comptroller said that sugar giant
Consorcio Azucarero Escorpion (CAZE) made false statements to
receive about $11.1 million in export subsidies between 1997 and
1999.
AmBev, the Brazilian drinks group, launched its Guarana Antarctica
soft drink in Portugal on July 12 in what it said was a cautious
first step toward its ambition to make the brand a global player.
Dole Food Co. Inc., the largest U.S.fresh fruit and vegetable
producer, reported that higher banana prices, fresh fruit sales and
cost-cutting upped second-quarter profits, but warned that the
third quarter might not meet forecasts.
The French beverage group Pernod Ricard has received seven offers
for BWG, its Irish and British wholesale distribution business, in
a deal that could be worth up to Euro350m.
Diageo, the UK drink company, reported strong sales and volumes at
its premium drinks business but warned of a poor second half for
both Pillsbury and Burger King.
Hong Kong food and beverage companies Fairwood Holdings and Vitasoy
International reported worse-than-expected results on July 12, as
newly-enforced mandatory pension benefits and foreign expansion ate
into their bottom lines.
US soft drink giant Pepsico Inc has teamed up with the Carlyle
global investment group to try to outbid San Miguel Corp in the
race to acquire Philippine soft drink firm Cosmos Bottling Corp.
French herb specialist Darégal announced this week that from July 1
2001 it has taken over the frozen aromatic herbs activity of French
food company Gyma
The Philippine's food and beverage company San Miguel Corp said on
July 11 that it hoped to clinch a deal by next month to buy Cosmos
Bottling Corporation (CBC).
Figures released on July 11 showed that Kirin Brewery and Asahi
Breweries, the two largest Japanese brewing companies, were
neck-and-neck in beer market share for the first half of the year.
Miller Brewing Co. and Royal Grolsch NV agreed on a alliance
regarding the brewing, bottling, sales, marketing and distribution
on Miller Genuine Draft in several Western European countries.
The Philippine food group San Miguel confirmed its strong interest
in the condiments business, however denied being in talks with
Southeast Asia Food Inc and Silver Swan Manufacturing Co.
Nestle SA, the Swiss food group reported that anouncement of tis
takeover of the German ice cream company Schöller will be postponed
for several weeks.
On July 4, the Canadian division of agriculture and biotechnology
giant Monsanto Co. said on Wednesday it had purchased Limagrain
Canada Seeds Inc.,...
Food processors in Australia warned retailers this week that bread
prices are set to rise by as much as 15 cents a loaf.This is the
second major price...
San Miguel Corporation, the Philippines top food and beverage firm,
is interested in acquiring two local condiment firms as part of a
strategy to expand...
According to Dr. Mary Ann Augustin, there are many challenges for
the Australian food industry in the development and production of
new foods, reports...
Food and consumer goods maker Sara Lee Corp. said on Monday it will
buy No. 2 U.S. bakery Earthgrains Co. for about $1.7 billion in
cash, gaining distribution...
Cereal and sports-drink maker Quaker Oats Co. on Monday gave
proposed buyer US drinks giant PepsiCo Inc., an additional 30 days
to sell its All Sport...
The American beverage group Coca-Cola is expected to modify the
terms of its $4bn juice-and-chips joint venture with Procter &
Gamble after criticism...
Australian brewing giant Lion Nathan Ltd has been ordered by New
Zealand regulators to cede control of winemaker Montana Group NZ
for breaching takeover...
The Irish food group Kerry announced on June 25 that it had
received backing from the board of Golden Vale for a Euro252m
agreed offer for the rival...
On the third day of the Institute of Food Technologists 2001 Annual
Meeting in New Orleans the IFT reported that attendance figures
were up from last...
On June 25, the Anglo-Dutch consumer products giant Unilever
recognised that the imminent introduction of the euro single
currency had helped accelerate...
On June 25, the Australian grocery group Foodland Associated Ltd.
announced it would pay US$81m for 36 Franklins supermarkets and two
warehouses outside...
On June 22, the American consumer products group Sara Lee pleaded
guilty in federal court for selling hot dogs and meats in 1998 that
were contaminated...
The main creditor of South Korea's Haitai Confectionery said on
June 22 that it had agreed to sell the insolvent firm to a UBS
Capital-led consortium...
On June 20, the German pharmaceutical group Merck KGaA announced
that its Japanese generics unit, Merck Hoei Ltd, has agreed to buy
a research institute...
The widening gap between PepsiCo Inc. and its proposed acquisition
target, Quaker Oats Co., has left investors wondering whether
government regulators...
Bill Johnson, chief executive of HJ Heinz, the American consumer
food group, announced on June 14 that he was not ready to abandon
its tuna business,...
The Japanese non-alcoholic beverage company Kirin Beverage is
reaching back to the most traditional of Japanese refreshments:
tea. After a long dependence...
Kraft Foods Inc., an American branded foods and beverages company,
announced that it has signed an agreement with Cadbury Schweppes
Australia Limited...
Innovative flavourings have become the key to success in the Thai
instant noodle market, say executives of Thai Preserved Food
Factory Co, makers of Wai...
Hungarian canned food maker Globus on Monday posted a pre-tax
profit of 327.6 million forints ($1.15 million) in the first five
months, compared with...