TANZANIA: Diageo's East African subsidiary, East African Breweries, has completed the acquisition of Serengeti Breweries. It acquired 51% of the share capital of SBL from shareholders for approximately £38.3m (US$60.4m). SBL has a portfolio of beer and non-alcoholic drinks, including its flagship Premium Serengeti Lager and, combined with EABL's portfolio, accounts for 28% of the Tanzanian branded beer sector. SBL would form an integral part of EABL's East African supply footprint, the company said.

AUSTRALIA: Drinks giant Foster's will make a final decision on the demerger of its wine and beer divisions by spring next year. Speaking at the company's 2010 agm in Melbourne this week, chairman David Crawford told delegates a demerger would require final assessment of the benefits to shareholders. If recommended by the board and approved by shareholders, the deal could happen in the first half of 2011, he added.

SWITZERLAND: Nestlé has posted an increase in group sales and predicted annual growth of 5% for its food and drinks division. In its third-quarter trading update, group sales for the nine months to 30 September were up 4.1% as food and drink sales hit £50bn (CHF77bn). Emerging markets were a key growth driver with sales up 11% thanks to strong dairy product, beverage and confectionery performances.

US: P&G has reported a 7% slide in first-quarter profits after taking a hit on the sale of its global pharmaceuticals unit. Net income dropped to £1.95bn ($3.08bn) from £2.09bn ($3.31bn) in the first quarter of 2009. Net sales rose 2% to £12.8bn ($20.12bn) and volumes increased 8%.

INDIA: PepsiCo South East Asia CEO Manu Anand will take over from Sanjeev Chadha as chairman and CEO of the group's India business from 1 January. Chadha, who has been in the role since 2009, has been promoted to the role of president of the group's Middle East and Africa operation. Current president for Middle East and Africa, Tarek Kabil, will retire from the group at the end of 2012.