USA: Avon reports Q2 sales slump
Avon has reported total revenue of $2.2.bilion for the second quarter of 2014, 13% lower than the same period of 2013. According to Cosmetics Business, net income based on continuing operations was $20 million compared with $85 million in the same period of the previous year, while the company’s net debt stood at $1.9 billion […]
USA: Chiquita confirms receipt of unsolicited offer from Cutrale Group and Safra Group
Chiquita Brands International, Inc. has confirmed that it has received an unsolicited offer from 2 Brazilian companies to acquire all of the outstanding common stock of Chiquita at a price of $13.00 per share in cash to Chiquita shareholders. Cutrale Group, one of the world’s largest orange-juice suppliers, and investment firm Safra Group have offered […]
USA: JM Smucker acquires Sahale Snacks
The JM Smucker Company (JM Smucker), an American manufacturer of fruit spreads, ice cream toppings, beverages, shortening and natural peanut butter, has announced the signing of a definitive agreement to acquire Sahale Snacks, Inc. (Sahale). Sahale is a leading manufacturer and marketer of premium, branded nut and fruit snacks, which are primarily sold in the […]
USA: Dollar Tree announces plans to acquire Family Dollar
Dollar Tree, the largest discount retailer in the US, has announced that it has entered into a definitive merger agreement under which it will acquire rival chain Family Dollar in a cash and stock transaction. The transaction, which has been unanimously approved by the Boards of Directors of both companies, is expected to close by […]
USA: Peet’s Coffee & Tea buys Mighty Leaf Tea
Peet’s Coffee & Tea, Inc. has acquired Mighty Leaf Tea in a partnership with private investment firm Next World Group, Food Business News reports. The acquisition of Mighty Leaf Tea, a handcrafted tea manufacturer which makes artisanal teas in a compostable mesh pouch, is aimed at bolstering Peet’s presence in the premium tea market. Mighty […]
USA: Quaker Oats to remove partially hydrogenated oils from oatmeal products by 2015
Cereal company Quaker Oats has agreed to remove trans fats from its Oatmeal to Go and Instant Quaker Oatmeal products by the end of next year after agreeing to settle on long-running litigation over its product labelling and trans fat content. The company, which is part of the PepsiCo group, said that it would now […]
USA: P&G to slim down brand portfolio
American-based multinational P&G is planning to reduce its portfolio, shedding up to 100 brands, Fortune reports. Speaking to industry analysts, P&G Chief Executive Alan Lafley said the company planned to focus on the 70 to 80 brands which account for around 90% of its sales and 95% of its profits. Mr Lafley, who rejoined the […]
USA: Christian Louboutin enters beauty market
Christian Louboutin, the famous Parisian shoe designer, has recently revealed a new nail polish which is said to be the designer’s first product within the beauty industry. According to Premium Beauty News, the nail polish, which is in the brand’s “signature” colour of red, is named Rouge Louboutin and is described as a “timeless, vibrant […]
Innovation Insight: Friends Fun Wine Coffee-Flavoured Wine
The worlds of wine and coffee collide in an unusual new launch featured by Gama this week – Friends Fun Wine Coffee-Flavoured Wine. New in the US, Friends’s melding of coffee and wine is the latest addition to the company’s range of low-alcohol “fun wines”, which come in cans and primarily target party occasions. Blending […]
USA: Dr Pepper Snapple sales affected by demand for diet products
Dr Pepper Snapple Group, the US soft drinks company, has reported an increase in net income and net sales for its second fiscal quarter despite being hit by consumers switching to diet beverages. Net income increased by 35% on the prior year period to $210 million, while net sales rose 1% to $1,631 million, as […]