http://www.foodanddrinkinsight.com Food and Drink Insight RSS Feed from Business Monitor International en Copyright 2009, Business Monitor International Ltd Fri, 03 Jul 2009 06:30 GMT Fri, 03 Jul 2009 06:30 GMT AFP RSS Generator Ukrainian mass grocery retail (MGR) chain Pakko Holding has announced plans to acquire stores from some of its smaller competitors in Ukraine's Western region as it bids to expand its store footprint to 95 outlets by the end of 2009. Although BMI is decidedly bearish on Ukraine's near term economic outlook (we expect its GDP to contract by almost 15% in 2009), we point to significant long-term upside potential in the country's MGR industry. Although wider industry sales are expected to remain flat in 2009 through to 2013, we have forecast sales to increase by 67.3% and reach US$9.2bn. http://www.foodanddrinkinsight.com/file/79076/Pakko-Pursuing-Western-Region-Expansion.html Thu, 02 Jul 2009 00:00 GMT Cadbury Nigeria has submitted an application with the Nigerian Stock Exchange for a rights issue worth NGN22bn (US$150mn) as it makes a concerted effort to trim the estimated US$100mn in bank debt it is believed to be holding. A subsidiary of UK-based Cadbury Schweppes, Cadbury Nigeria is trying to sell 2.57bn ordinary shares at NGN8.65 per share (the price represents a 36.1% discount on the company's closing share price on June 29 2009). Earlier in 2009, BMI reported that the company posted a net loss of NGN2.8bn for FY08 (its third in succession). The rights issue should improve Cadbury Nigeria's http://www.foodanddrinkinsight.com/file/79075/Cadbury-Poised-For-US$150mn-Rights-Issue.html Thu, 02 Jul 2009 00:00 GMT The European Bank for Reconstruction and Development (EBRD) has agreed to loan Tikves, Macedonia's leading wine producer, a further EUR2.5mn to complete the modernisation of its production facility and strengthen its balance sheet. The development follows on from the EBRD's acquisition of a 23.65% equity stake worth EUR6mn in the firm in November 2008. As well as being the leading wine maker in the Balkan region, Tikves boasts a stellar international reputation. In 2008, it was recognised as one of the top 30 global wine brands by the Wine Innovation Forum in Paris. http://www.foodanddrinkinsight.com/file/79031/Tikves-To-Benefit-From-Further-EBRD-Financing.html Wed, 01 Jul 2009 00:00 GMT In partnership with local bottler COFCO Coca-Cola Beverages, US soft drinks giant The Coca-Cola Company (TCCC) has commenced construction at its 39th Chinese bottling facility, a plant in Inner Mongolia. Following hot on the heels of the company's 37th and 38th openings, in Jiangsu Province and Urumqi respectively, the opening reasserts TCCC's commitment to Chinese growth even after the much-publicised failure of its US$2.4bn attempt to land juice major Huiyuan Juice Group. http://www.foodanddrinkinsight.com/file/79032/Coca-Cola-Expands-As-Huiyuan-Considers-Its-Options.html Wed, 01 Jul 2009 00:00 GMT Canada's largest dairy firm Saputo has announced it is to buy US-based F&A Dairy of California. Financial details were not disclosed but Saputo revealed the acquisition will be funded through existing credit lines. The move follows several similar acquisitions in the US market as Saputo looks to diversify geographically after becoming the largest player in the relatively small Canadian http://www.foodanddrinkinsight.com/file/79033/Saputo-Takes-On-Debt-To-Invest-In-Cheese.html Wed, 01 Jul 2009 00:00 GMT UK pub operator and brewer Marston's is reported to be confident that its proposed GBP176mn rights issues will get the backing from investors despite rumours that many see the cash-call as unnecessary. The issue will almost double Marston's equity and is set to be voted on by investors on July 6. In BMI's view, the mere fact that rumours of discontent have emerged suggest that investors may be becoming more discriminating when choosing which rights issues to back and that other food and drink firms may have to work harder to justify cash-calls to their http://www.foodanddrinkinsight.com/file/79029/Investors-Showing-Signs-Of-Rights-Issue-Fatigue.html Wed, 01 Jul 2009 00:00 GMT Almarai, Saudi Arabia's leading dairy company, has reached an agreement to acquire full ownership of the domestic poultry producer Hail Agricultural Development Company (Hadco). Contingent on every Hadco shareholder approving the deal, Almarai will pay SAR30.1 per share - a 3.4% premium on the company's closing share price on June 30 2009 and 35.3% more than Almarai had unsuccessfully bid in November 2008 (the deal values Hadco at around SAR950mn (US$253mn). Should the deal be successfully closed, Almarai will further bolster its chances of capitalising on BMI's forecast that through to 2013 food consumption in Saudi Arabia will increase by http://www.foodanddrinkinsight.com/file/79030/Almarai-Set-To-Enter-Poultry-Industry.html Wed, 01 Jul 2009 00:00 GMT Leading India-based food company Britannia Industries has announced plans to re-launch its popular Nutro biscuit label in the Gulf region. The firm, which owns 70% of leading Oman-based biscuit maker Strategic Foods International (SFI) in a joint venture with Oman-based company Khimji Ramdas Group, is intent on capturing a greater share of the region's biscuit market. It is specifically interested in expanding its operations in the UAE, which boasts a biscuit industry that is estimated to be worth over AED500mn (US$136.1mn) annually (per capita biscuit and wafer consumption is believed to stand at 6 kg). BMI agrees with the timing http://www.foodanddrinkinsight.com/file/78987/Britannia-Eyeing-Further-Expansion.html Tue, 30 Jun 2009 00:00 GMT Croatia's leading mass grocery retailer (MGR) Konzum has announced that it secured a long-term lease on 11 stores owned by Super Nova, one of Bosnia and Herzegovina's leading MGR operators. The expansion will increase Konzum's presence in the country to over 90 outlets, which is encouraging exposure to one of the least developed MGR markets in the territory of the former Yugoslavia. http://www.foodanddrinkinsight.com/file/78988/Konzum-Continues-Expansion.html Tue, 30 Jun 2009 00:00 GMT The US carbonated soft drinks sector, which is already suffering in the wake of the economic downturn and increased health consciousness, could be set for further difficulties if two proposed policies are introduced by the Obama administration. The Center for Science in the Public Interest (CSPI) has launched a campaign to repeal a measure introduced in 2003 that prevents government sponsored health campaigns from naming specific foods. Meanwhile, politicians in the US congress have recently discussed raising taxes on soft drinks and alcohol to help pay for Obama's ambitious healthcare reforms. http://www.foodanddrinkinsight.com/file/78989/Soft-Drink-Sales-Could-Be-Hit-By-New-Legislation.html Tue, 30 Jun 2009 00:00 GMT Denmark-based Carlsberg has agreed to sell a brewery in Germany to locally-based Oettinger Brauerei. The deal includes a number of discount and private-label brands and Carlsberg revealed it sold the business as part of the 'continuous optimisation' of its brewery network. The firm has revealed it wishes to focus on its more profitable core brand business, which includes the labels Carlsberg and Tuborg. The move will leave Carlsberg with three facilities in the country, which despite boosting very high per capita beer consumption, is a difficult market due to its maturity and fragmented http://www.foodanddrinkinsight.com/file/78986/Carlsberg-Sells-German-Brewery.html Tue, 30 Jun 2009 00:00 GMT China's leading domestic grocery retail operator Lianhua Supermarket Holdings is to acquire Hualian Supermarket Company from department store major Bailian Group in a deal worth CNY491.8mn (US$72mn). Expanding Lianhua's footprint in Shanghai and the Yangtze River Delta region, the deal will also enable the company to gain ground on the expansionary retail multinationals that have managed to steal a lead on it in recent http://www.foodanddrinkinsight.com/file/78948/Lianhua-Lands-Hualian-Supermarket-As-Competition-Intensifies.html Mon, 29 Jun 2009 00:00 GMT Per capita consumption of wine is very low in Brazil compared with consumption of beer and as such the country has historically only ever had a small wine industry. However, at the recent Vinexpo wine show in Bordeaux, France, six Brazilian producers were exhibiting for the first time and French winery Jean Jean revealed plans to establish a sales office in the country within the next year. The Brazilian wine market certainly has potential. Wine is gradually becoming more accepted by middle-class Brazilians as an ideal accompaniment to a meal, and value consumption is therefore forecast to gradually rise over http://www.foodanddrinkinsight.com/file/78949/Brazilian-Wine-Sector-Poised-For-Growth.html Mon, 29 Jun 2009 00:00 GMT The government of Cameroon has announced that it will cut prices of essential food staples such as rice, salt and fish by up to 25% effective from July 1 2009. The measures are aimed at appeasing consumers disillusioned by the high cost of living. Although an estimated GDP per capita of US$1,364 (fairly high by regional standards) in 2008 suggests that consumers are relatively better off than many of their counterparts across West Africa, BMI points out the market for food processors continues to be bogged down considerably by the prevalence of wide income disparities. Through to 2018, BMI has http://www.foodanddrinkinsight.com/file/78946/Food-Prices-Set-To-Fall-As-Food-Processing-Vacuum-Persists.html Mon, 29 Jun 2009 00:00 GMT Leading Japan-based brewer Kirin has entered Russia's canned beer market after launching its leading Kirin Ichiban brand. The brewer already sells bottled beer in the high potential Russian market and its canned range will be produced by an as-of-yet unnamed domestic brewer. BMI points out that although Russian consumers favour domestic beer labels, the sheer size of the market (we estimated beer volume sales to have been 12.8bn litres in 2008) and its long-term outlook (through to 2013, beer volumes are expected to increase by an encouraging 17.6%) should ensure that Russia has the potential to emerge as a useful http://www.foodanddrinkinsight.com/file/78947/Kirin-Targeting-Canned-Beer-Market.html Mon, 29 Jun 2009 00:00 GMT