Heineken, Carlsberg ratings will survive French beer tax: Moody’s Investment Service

Moody’s says it will not downgrade its ratings of Carlsberg and Heineken, despite the potential harm a massive French tax increase in January could pose to national beer sales.

ANALYST INSIGHT

Beam Inc. deal more likely after Diageo terminates Cuervo talks: City analyst

A City analyst tells BeverageDaily.com that he believes recent talk of Diageo mounting a $10bn+ takeover of Beam Inc. is more likely now the UK plc. has ended talks with...

ANALYST INSIGHT

Diageo unlikely to swoop for $10bn+ Beam Inc. in short term: City analyst

Diageo remains tight-lipped on reports it may make a $10bn+ swoop for Beam Inc. but one analyst tells BeverageDaily.com he believes no imminent deal is likely, given the firm’s preoccupation...

News in brief

Analyst hails Scottish firm for setting A.G Barr high

One City analyst has hailed UK soft drinks firm A.G Barr for 'outpacing the market' with volume growth in the 18 weeks to December 1, but warned that the nation's...

EU food industry competitiveness ‘lagging behind’: Report

The European Union’s food industry is lagging behind the rest of the world in terms of competitiveness, according to a new report from FoodDrinkEurope, which outlines priorities for new EU-wide...

News in brief

No Moody blues for Britvic CEO post ₤2.9m payoff?

Despite leading Britvic while it suffered the Fruit Shoot recall debacle that wiped 20% off full-year 2012 profits, CEO Paul Moody will receive a ₤2.9m ($3.78m) pension as he exits...

Intersnack snaps up KP Snacks for undisclosed sum

European Intersnack Group has snapped up United Biscuits’ KP Snacks for an undisclosed sum in a move that will enable the UK firm to 'dedicate focus' to its biscuits business, United...

McCambridge sells strong private label cake division in Christmas run-up

UK bakery firm McCambridge Group has sold its private label cake division to NBGI Private Equity and despite the run-up to Christmas its MD said now is a good time...

Fruit Shoot litigation ‘claims’ could cost Britvic further ₤8m in 2013

Britvic finance director John Gibney told City analysts this morning that losses of ₤16.9m due to this year’s Fruit Shoot recall could extend to ₤25m in 2013 due to associated...

Premier Foods: Catalysts, closures and consolidation…

Premier Foods will shut two bakery sites and remove 130 distribution routes at a cost of £28m ($44.5m); a move sparked by its lost Co-op bread contract.

News in brief

Tesco appoints Coca-Cola boss as social media manager

Tesco has appointed Coca-Cola’s interactive manager Jude Brooks to head its social-media operations.

Real Good Food Company on track for ‘critical’ Christmas period despite profit drops

Operating profits dropped in two of the Real Good Food Company’s (RGFC) bakery businesses – Haydens and R&W Scott – but analysts say the group is on track entering the...

Food and drink firms ‘braced for tough Christmas’: FDF

Britain’s food and drink manufacturers are bracing themselves for difficult Christmas trading, according to the Food and Drink Federation (FDF).

Carlsberg rivals face Russian organizational 'challenges', CEO suggests

Carlsberg CEO Jørgen Buhl Rasmussen has suggested that rival SAB Miller and new strategic partner Anadolu Efes may be facing challenges in Russia as they combine their businesses, as his...

Sugar profits sweeten the deal for ABF as grocery and ingredients slump

A bumper performance in the sugar market has helped Associated British Foods balance sharply declining profits in its ingredients and grocery businesses.

Kerry reports strong growth despite tough trading conditions

Strong growth in Kerry Group’s ingredients and flavours division has helps to balance out slow-down in consumer goods, as revenues increased by nearly 11% to €4.4 billion.

Premier Foods ‘most likely’ to sell Hovis to foreign firm

The most likely buyer for Premier Foods’ bread brand Hovis will be a foreign firm, according to an industry expert.

Premier agrees sale of pickles and sauces business to Mizkan Group

Premier Foods has announced the £92.5 sale of its sweet pickles and table sauces business to Japanese firm Mizkan Group in a move that puts the firm past its target...

Welsh chewing gum tax doesn’t stick

The Welsh Assembly has rejected plans to introduce a 5p levy on chewing gum.

Premier needs to address ‘sensitive’ distribution issue: Analyst

Premier Foods has split its bread business and upped sales in Hovis over the last quarter, but it has a lot more work to do and distribution is the sensitive...

Premier Food’s Power Brands pull their weight, relief ‘palpable’: City

Britain’s biggest food manufacturer Premier Foods reported a 2% rise in underlying sales growth in an interim management statement covering the three months to September 30 that drew both praise...

London Calling: CCH shift reflects international status – Fitch

Coca-Cola Hellenic’s move to list its shares in London rather than Athens reflects a desire to avoid a ‘full blown’ sovereign crisis but also boost its international profile.

Kerry Group to invest €100m in new innovation centre in Ireland

Irish food ingredients company Kerry Group has said it will invest €100m in a new global technology and innovation centre in Ireland, due to open in 2016 to serve its...

Mondelez acquires Italian biscuit maker from Danone

Kraft Foods’ global snacks spin-off Mondelez has acquired Italian biscuit business Vitasnella from Danone.