Coca-Cola
Coca-Cola Europacific Partners Reports Rosy 3Q Financials
CCEP said its revenue for the third quarter rose 20 percent to €3.95 billion ($4.58 billion), enough to warrant raising its guidance for the year. The company expects revenue comparable growth in the 29 percent to 30 percent range, up from a previous range of 26 percent to 28 percent, while operating profit's comparable growth will be in the 46 percent to 49 percent range from a previous range of 40 percent to 44 percent.
Coca-Cola India’s Profit Slides 28 Percent; Bottling Arm’s Profit Tanks
In a year severely impacted by the COVID-19 pandemic, the New Delhi-based company posted a 16 percent year-on-year decline in revenues for fiscal 2020-21 at Rs 2,355 crore ($318 million) while its net profit fell 28 percent to Rs 443 crore ($60 million). Meanwhile, bottling arm Hindustan Coca-Cola Beverages (HCCB) reported a 29 percent decline in its revenue for fiscal 2021 to Rs 7,004 crore ($946 million), The company’s profit dropped 93 percent year-on-year to Rs 72 crore ($9.7 million), battered by supply chain disruptions, lockdowns, and closings of restaurants, cafes, and movie theaters, along with a “reverse migration” of the workforce.
Coca-Cola Picks British Ad/PR Firm To Implement Streamlined Marketing Model
London-based advertising agency WPP plc beat Publicis in the final round of Coke’s agency review to become the beverage giant’s “global marketing network partner” to help execute a new marketing model created to drive long-term growth across its portfolio. WPP will form a bespoke unit called “OpenX” to handle media, creative and data in some 200 countries. The new consumer-centric and silo-free “integrated agency model” has four components: a global marketing network partner; a complementary media partner to provide differentiated capabilities in select markets; a strategic roster of approved agencies; and a common data and technology platform that connects various marketing teams and operating units.
Nestle
Nestlé Unveils Slew Of New Products At Chinese Expo
The company’s plant-based beverages are among products being showcased at the China International Import Expo (CIIE). Nestlé’s fourth appearance at CIIE this year features 275 products – 14 of which are making their debut in China – from 19 countries, Ten Nestlé business units are participating in CIIE. Nespresso is launching a new coffee extraction system in the Chinese market, along with the Nespresso Momento Range of professional coffee machines.
Other Companies
With A Few Exceptions, The Glut Of Dairy Milk Is Keeping Prices At The Store Down
While some spots in the U.S. have experienced spikes in the price of dairy milk, overall, the country is oversupplied, and prices are holding steady. The glut has gotten worse over the past few decades as larger dairy farms bought up the livestock of disappearing small farms and increasingly dominated the industry. Policymakers have been struggling for years with an antitrust problem in various markets, but the dairy sector has escaped attention because consumers aren’t seeing significantly higher prices as a result of consolidation. Some cities have experienced isolated swings in milk prices because of local supply issues and other factors. But generally, the U.S. has been making more milk than it can use. The harsh reality for the U.S. dairy industry is that Americans are drinking less milk per capita than ever, while consumers turn to soy, almond, and other plant-based milk alternatives.
Xebra Brands Informs Health Canada Of Distribution Plans For Pot-Infused Lemonade
The Vancouver, B.C.-based cannabis company said it has submitted a new product notice for its THC-infused lemonade, Vicious Citrus, to Health Canada, for planned distribution to multiple provinces in the spring of 2022. By law, the agency must be notified of the intent to sell a cannabis product that they have not previously sold in the country. Xebra has formulated several dozen cannabis-infused beverages under six brands, including MadCap seltzers and soft drinks, HighJack energy drinks, HolaHi iced teas, Vicious Citrus lemonades, HighCastle waters and Conquer, a CBD sports beverage. The company plans to launch more beverage brands in Canada after Vicious Citrus.
Jollibee Foods Buys Controlling Interest In Taiwanese Bubble Tea Producer
The Pasig, Philippines-based fast food restaurant chain said a subsidiary would buy 51 percent of the shares of Taiwan’s Milkshop International, a chain of bubble tea shops, for $12.8 million. Milkshop International, founded in 2008, is primarily involved in the development, operations, and franchising of specialty tea shops under the trade names Milkshop and Milksha. Milkshop produces milk from its own dairy farm, and claims that their bubble tea is free from chemical additives, preservatives, and caramel color. It has more than 250 outlets, including 231 in Taiwan, four in Hong Kong, two in Melbourne, two in Vancouver, and 12 in Singapore. JFC has 5,853 stores with 17 brands operating in 34 countries.
Dairy Alternatives Market Continues Growth In Products, Sales
The global dairy alternatives market is expected to reach $52.58 billion by 2028, a CAGR of nearly 13 percent. The global plant-based beverage market, valued at $22.86 billion in 2020, will experience a CAGR of 14 percent from 2021-28. In the U.S., restaurants, eateries, hotels, and cafes are including plant-based milk alternatives, especially ones made with oats and almonds, to their menus to cater to lactose-intolerant or vegan consumers. Among new entrants into the increasingly crowded market are milks made from barley, peas, chickpeas, pinto beans, black beans, navy beans, and flaxseeds.
Beliv Acquires U.S. Maker Of Probiotic Beverages
The Miami, Fla.-based bev-tech unit of the Central America Bottling Corporation (CBC) said it has acquired Big Easy, a U.S. manufacturer of all-natural plant-powered probiotic drinks. The transaction gives Beliv a quick vehicle for expansion in the U.S. market. With a manufacturing facility in New Orleans, La., Big Easy produces beverages with digestive health benefits, including kombucha, functional juice shots, and tepache, a prebiotic pineapple soda with pre-Hispanic roots. Big Easy products are sold at more than 3,000 retailers in the U.S., including Publix, Sprouts, Wegman’s, and others.
Happy Grains Says Its Beverage Is Healthier Than Tea, Coffee, And Malted Chocolate
The Malaysian multigrain drink producer is determined to replace tea, coffee and malted chocolate as the favorite breakfast drinks around the world. According to the company, drinks like Milo, coffee, and tea are commercially popular right now, “but we believe that multigrain beverages such as ours can offer an option that allows consumers to start their day even healthier.” Happy Grains is low-calorie (100 per cup), contains no added sugar – stevia is the sweetener – and offers “different nutritional advantages and functions based on the products’ grain blend.” Variants include the Original Mixed Grains Drink, Black Seeds Drink (glutinous rice, black goji berries, black sesame, and acai), and Choco Grains Drink for kids. The drinks are available in some 2,000 retail outlets in Malaysia, retailing for US$23.64 a bottle.
Spindrift Enters Crowded, And Perhaps Waning, Alco-Seltzer Market
The fact that there are already 200 brands of hard seltzer on the market – or the possibility that the fad may be dying – is not keeping the Newton, Mass.-based fruity sparkling water company from introducing its own version, Spindrift Spiked. According to Spindrift, more than half of its customers said they were reluctant to try hard seltzers on the market now because of the artificial ingredients used. So, the company believes its unique selling proposition – the use of real fruit and minimal ingredients – will allow it to stand out in the $4.3 billion space. But there may be dark clouds on the horizon: NielsenIQ data show hard seltzer sales were up more than 51 percent for the 52 weeks ending July 10, 2021, but in the final 12 weeks sales were only up 7.8 percent. Spindrift Spiked, introduced in April, comes in lime, pineapple, half and half, and mango flavors.
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