ARGENTINA: SABMiller has acquired Argentinean brewer CASA Isenbeck as it expands in Latin America. CASA Isenbeck brews Isenbeck and Warsteiner beers and the latter brand will be produced and distributed under licence as part of a long-term agreement between the parties. Warsteiner's Argentinean wine business is not affected.
INDIA: Nestlé has pledged to step up its investments in India, re-emphasising its confidence in the country's growth potential. Over the past three years, Nestlé India has spent more than £95m (CHF150m) in its Indian operations and will have invested more than £63m (CHF100m) in 2010 alone.
US: Soup giant Campbell's lowered its full-year guidance following weaker-than-expected first-quarter results. Net earnings for the three months ended 31 October totalled £177m ($279m), down from £193m ($304m) the prior year as domestic soup sales fell.
"We intend to remain competitive in US soup through the height of the soup season, and it's likely that margin pressures will persist," said Douglas R Conant, Campbell president and CEO.
Shares in Del Monte soared to an all-time high last Friday following reports that private equity firm Kohlberg Kravis & Roberts was in advanced talks to buy the company. KKR has reportedly offered £11.70 ($18.50) a share for Del Monte, which makes canned veg and pet food such as Meow Mix and Milk-Bone. The deal would value the company at about £2.27bn ($3.58bn) and is expected to be finalised next month.
MOROCCO: Metro is selling eight C&C stores to Label Vie for £101m (120m). The Moroccan company will take over all activities in the stores from 30 November.
"This was not an easy decision for us", said Metro Cash & Carry Europe CEO Joël Saveuse. "We see no sustainable growth and expansion perspective for the specific concept of our self-service wholesale business in Morocco."
MCC Morocco reached sales of £176m (208m) in 2009 and employs about 1,400 people. Label Vie plans to maintain these jobs.
INDIA: Nestlé has pledged to step up its investments in India, re-emphasising its confidence in the country's growth potential. Over the past three years, Nestlé India has spent more than £95m (CHF150m) in its Indian operations and will have invested more than £63m (CHF100m) in 2010 alone.
US: Soup giant Campbell's lowered its full-year guidance following weaker-than-expected first-quarter results. Net earnings for the three months ended 31 October totalled £177m ($279m), down from £193m ($304m) the prior year as domestic soup sales fell.
"We intend to remain competitive in US soup through the height of the soup season, and it's likely that margin pressures will persist," said Douglas R Conant, Campbell president and CEO.
Shares in Del Monte soared to an all-time high last Friday following reports that private equity firm Kohlberg Kravis & Roberts was in advanced talks to buy the company. KKR has reportedly offered £11.70 ($18.50) a share for Del Monte, which makes canned veg and pet food such as Meow Mix and Milk-Bone. The deal would value the company at about £2.27bn ($3.58bn) and is expected to be finalised next month.
MOROCCO: Metro is selling eight C&C stores to Label Vie for £101m (120m). The Moroccan company will take over all activities in the stores from 30 November.
"This was not an easy decision for us", said Metro Cash & Carry Europe CEO Joël Saveuse. "We see no sustainable growth and expansion perspective for the specific concept of our self-service wholesale business in Morocco."
MCC Morocco reached sales of £176m (208m) in 2009 and employs about 1,400 people. Label Vie plans to maintain these jobs.
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