Coca-Cola
Coca-Cola Sees Construction Start On Its New $100M Facility In Columbus
A new Coca-Cola distribution and warehouse facility in Columbus, Ohio, will see 325 employees moving from its current location. Construction has started on the 400,000-square-foot site, which will cost $100 million and comprise three buildings, including a new fleet shop for Red Classic Transit, its transportation subsidiary.
Coca-Cola Raises Full-Year Sales Forecasts, Comments On Impact Of Weight Loss Drugs
After beating analyst expectations for the third quarter, Coca-Cola raised its sales and profit forecasts for the full year. Its average selling prices jumped 9 percent in the third quarter and unit case volumes were up 2 percent. On the earnings call, CEO James Quincy mentioned the company was monitoring the possible impact of drugs like Wegovy and Ozempic, prescribed for diabetes but often used for weight loss, on food and beverage companies’ sales. One analyst said that “as a pure liquids company and as more of a global company (Coca-Cola) will probably see the impact later than anyone." Coca-Cola expects full-year organic sales growth of 10-11 percent, up from its previous forecast of 8-9 percent.
Keurig Dr Pepper
KDP Is Adding A $100M Investment To Its $380M Plans In Spartanburg County
Keurig Dr. Pepper will invest a further $100 million at its Spartanburg County plant in South Carolina by 2027, creating 250 new jobs, on top of the original $380 million investment. The 708,067-square-foot facility was expected to be operational by 2020, but the pandemic delayed construction. It will be focused on coffee roasting and K-cup pods packaging. KDP has some 28,000 employees in North America, across 30 production sites and 150 distribution/warehousing facilities. It is seeking a revised tax break deal with Spartanburg County, to reduce the standard property tax rate for 40 years.
Nestle
Coffee Mate Launches RTD Iced Coffee Line
Nestlé’s Coffee Mate coffee creamer brand has launched its first ready-to-drink iced coffee range, with an SRP of $4.99. The 50oz. products are in Caramel and French Vanilla flavors, contain the equivalent of five 12-oz. servings of coffee and cream, and have a quarter less sugar than “the leading dairy-based competitor.” Coffee Mate’s innovation follows the February release of Dunkin’s Bakery Series Canned Iced Coffees and Maxwell Iced Latte with Foam, which offer foamy iced coffees when stirred in cold water.
Other Companies
Hippo Energy Sees A Future In Healthy Energy In The ASEAN Region
Hippo Energy Drink, an energy beverage brand based in Thailand, has gained traction in its domestic market as well as in other ASEAN countries, leveraging trends around health. Founder Inthad Thassaneephab said that the brand has managed to launch products that address the trends, such as options with “low-sugar, non-sugar, zero-calories and so on.” Not all consumers in the region are on board the health train, especially if it means compromising on taste by removing sugar, but Hippo still believes this challenge can be met with energy drinks that are unique, healthy and natural.
Australian Plant-Based Milk Company Launches Sparkling Coconut Waters In Cans
Bonsoy Beverage Co., an Australian brand that manufactures premium plant-based milks, has launched Sparkling Coconut Waters. They are all Vegan Certified, natural, with no ‘nasties’, and use Certified Organic Coconut water. Sparkling Coconut Waters come 320ml cans, in five 5 varieties: Organic Natural, Watermelon, Passionfruit, Lychee and Ginger.
Rio Soft Drinks Acquired By AG Barr
UK-based beverage producer AG Barr announced the acquisition of soft drinks company Rio Tropical for £12.3 million from brewer and pub owner Hall and Woodhouse. Since 2021, Rio has been exclusively marketed, sold and distributed by AG Barr’s Boost Drinks division, which it acquired recently. AG Barr CEO Roger White said, “this acquisition is a further positive indication of our strategic ambitions.”
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