Coca-Cola
European Coke Bottler Hopes To Acquire 31 Percent Stake In Australia’s Amatil
Coca-Cola European Partners has made a $6.6 billion buyout approach to Australian Coke bottler Amatil (Sydney), which is reportedly open to the proposal because of the uncertainty sparked by the coronavirus crisis. The takeover would be the biggest involving Australia this year, though the offer – $9.10 a share in cash, a premium of 23 percent – is below Amatil’s February market valuation before the COVID-19 pandemic’s economic impact worldwide. The CCEP is offering to acquire 69.2 percent of the stock of CCL that is held by shareholders other than the Coca-Cola Company.
Coca-Cola 3rd Quarter Revenue Improves, But Falls Short Of Analyst Forecasts
Coca-Cola is showing financial improvement as it seeks to streamline operations and product portfolios to combat the impact of the global pandemic. Revenue slid nine percent to $8.7 billion, worse than the $8.4 billion predicted by Wall Street. Still, it was better than the 28 percent revenue drop in the second quarter. Net income was $1.7 billion. Earnings, adjusted for one-time items, fell two percent to 55 cents a share, a number that beat analyst forecasts of 46 cents. Coke’s performance has been damaged by the closure of arenas, restaurants, theaters, and other public places where it books about half of its revenue. Soda fountains at such venues normally make up 30 percent of Coke’s U.S. sales, for example.
Danone
Danone To Construct Organic Infant Milk Factory In France
The French food and beverage company is building the $29.6 million facility in France to meet growing demand from French consumers for organic products. The new factory, to be located in the Hauts-de-France region of the country, will support 30 to 40 milk producers in the transition to organic. Danone just introduced an Aptamil Organic range in the U.K., which covers “all three stages of baby feeding” and is said to have been certified by an independent organic certification body.
Danone To Review Strategy In Argentina As Part Of Major Reorganization
In a bid to cope with disruptions caused by the COVID-19 pandemic, the French food multinational, which posted revenue of $6.8 billion – a 9.3 percent drop on a reported basis – announced a “complete strategic review” that would begin in Argentina, as well as a review of the Vega brand in the U.S. Danone posted a 2.5 percent drop in like-for-like third-quarter sales, slightly worse than the 2.2 percent slide analysts expected. The company said it wants to achieve a profitable corporate growth rate of three to five percent. The corporate review could include other assets over time. The company is studying a sale of the Vega protein powder brand acquired in the WhiteWave deal, as well as a unit in Argentina. Some divisions could cut 20 percent to 30 percent of the products they make. Danone also said CFO Cecile Cabanis would be leaving the company in February 2021, to be replaced by Jürgen Esser.
Keurig Dr Pepper
Keurig Dr Pepper Shuffles Top Management
To “further enhance speed-to-market and decision effectiveness,” the Burlington, Mass.-based beverage company announced several changes to its executive leadership team. Among the changes effective on November 1: Fernando Cortes (chief supply chain officer) will manage the beverage concentrate manufacturing operations under development in Ireland; CFO Ozan Dokmecioglu will assume leadership for the Canadian and Mexican markets; chief commercial officer Derek Hopkins will add the title of president, cold beverages; head of international and business development Mauricio Leyva will become president of coffee; and chief marketing officer Andrew Springate will take over the beverage concentrate business, reporting to Hopkins. Jim Trebilcock, chief beverage concentrate officer, will leave at the end of this year along with Keurig appliances head Andrew Loucks.
Keurig Dr Pepper Brands Steer Toward 100 Percent rPET Bottles
The company’s Snapple and CORE brands will transition to bottles made of 100 percent recycled (rPET) plastic with a goal of eliminating 46.3 million pounds of virgin plastic used annually. Snapple, available now in 100 percent recycled plastic 16 oz. bottles in West Coast markets, will roll out rPET bottles in phases across the country through early next year. The company said CORE rPET bottles will be on shelves beginning in early 2021. About one-fifth of the packaging of KDP's portfolio of 125 brands is made from post-consumer recycled (PCR) content.
Nestle
Nestlé SA Says Online Sales Are Strong And Growing
The Swiss multinational says e-commerce sales, driven by COVID-19, increased 48 percent over the first nine months of the fiscal year to reach 12.3 percent of total company sales, up from 8.5 percent in the same time of the previous year. CEO Ulf Mark Schneider said the results indicate that Nestlé is “coming of age” in the digital era of food and beverage, thanks mostly to health concerns brought on by the pandemic. Out-of-home sales, which accounted for about 10 percent of total Nestlé sales before COVID-19, decreased 31 percent. The slide moderated to 26 percent in the third quarter from 55 percent in the second quarter. CFO Francois-Xavier Roger, noting that coffee, pet care, nutrition, and water are most suited to online buying, said Nestlé’s online sales are largely from the U.S., the U.K., France, Germany, China, and Japan. Nestlé also upgraded its fiscal-year guidance to about three percent organic sales growth from about two percent.
Other Companies
Darigold Goes Big In Organic Farming
The Seattle, Wash.-based dairy co-operative is expanding its pool of organic farms in the northwest U.S. and boosting investment to grow its organic capabilities. The co-op says it is now making packaged organic products for the retail and foodservice channels, and working with manufacturing customers to produce custom organic ingredients. Darigold is adding organic segregation and processing capabilities to a fourth plant to be able to offer more organic ingredients, branded consumer products, and co-packed products to meet increased customer demand for organic options. The co-op recently launched two branded products: Darigold Northwest Organic Milk and Darigold FIT Organic Milk, available at select Costco warehouses and eventually other retailers over the coming year.
HidrateSpark Debuts Sugar-Free, Zero Calorie Electrolyte Supplement Powders
The new Wave powders from the Minneapolis-based hydration specialist are a blend of six electrolytes, vitamins, and minerals available in three flavors. The company says the powders, suitable for use in its HidrateSpark smart water bottles, are made with pink Himalayan sea salt, sodium, potassium, calcium, phosphorus, chloride, magnesium, vitamin C, vitamin B3, vitamin B12, and zinc. Flavors include lemon, strawberry, and pink lemonade. Each Wave electrolyte powder container has 32 servings with an MSRP of $37.49. HidrateSpark will also offer Wave at a discounted monthly subscription member price of $29.99.
Numi Organic Tea Launches Organic “Drinking Chocolates”
The vegan, Non-GMO verified, and gluten-free chocolate drinks from the Oakland, Calif.-based company offer “a European-style, decadent spin on a classic childhood beverage.” Drinking Chocolates are made with organic ingredients such as Fair Trade Certified cocoa, vanilla bean, cayenne, chaga mushroom, cinnamon, and five grams of organic coconut sugar. Available flavors include Dash of Salt, featuring pink Himalayan salt; Kick of Mocha (organic coffee and vanilla beans); Shroom Power (organic chaga mushroom powder, cinnamon and vanilla); and Touch of Chili (organic cayenne, cinnamon, and orange essence). Numi’s Drinking Chocolates are available in more than 300 Whole Foods Market stores, Sprouts Farmers Markets in the U.S., and at Numitea.com.
Bio-K+ International Introduces Functional Drinks With Probiotics
The Quebec-based company’s new Essential functional teas and sparkling waters are designed to “offer the mass market high-quality, everyday health products that include probiotics in their formulation." The Essential beverages, formulated with 35 calories or less per portion for iced teas, and five calories for the sparkling waters, are naturally flavored, contain no artificial colors, flavors or sweeteners, organic, non-GMO, and infused with live and active probiotic bacteria. The sparkling waters and iced teas will be available on Amazon.com as of mid-November and in regional chains as of January 2021.
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