PepsiCo’s Varun Beverages profit rises 25% with revenue matching estimates

INDIA - Varun Beverages Ltd (VBL), PepsiCo’s largest franchise bottler of soft drinks has reported that its consolidated net profit in the second quarter increased by 24.92% to US$44.14 million while revenue matched estimates, reported Indiainfoline. Profit margin contracted by 150bps year-on-year due to sub-optimal volumes/margins in acquired sub-territories. Also, during the quarter company had…

Monster Beverages reports net sales rise 12% to surpass US$1b threshold

USA – Monster Beverages, an American beverage company that manufactures energy drinks, has reported a net sales increase of 12% to exceed US$1 billion threshold in its quarterly sales results. According to the company, the net sales for the 2018 second quarter increased 12% to US$1.02 billion from US$907.1 million in the same period last…

Heineken launches new brew infused with marijuana instead of alcohol

USA – Heineken, a pale lager beer producer, has introduced a new brew, Hi-Fi Hops, from California beer brand Lagunitas, made with marijuana instead of alcohol. The company said the new brew is part of a growing trend of established companies diving into the marijuana industry and could give a boost to the struggling beer…

Coca-Cola European Partners reports first half year revenues at US$6.19m

USA - Coca-Cola European Partners, has announced its interim results for the six months ended 29 June 2018 with a reported revenue totalled at US$6.19 million, maintaining full-year 2018 outlook. According to the company, the first-half diluted earnings per share were US$0.97 on a reported basis or US$1.15 on a comparable basis, including a negligible…

AB InBev to build new brewery in Mozambique, Nigerian brewery to open this month

MOZAMBIQUE- Anheuser-Busch InBev (AB InBev), the world’s largest brewing company has said it is investing in a new brewery in Maputo, Mozambique whose construction is set to start second-half of 2019. While the sum of the transaction was not disclosed, the Belgian based brewer said the new facility will have a capacity of 2-million hectoliters…

Coca-Cola Beverages SA appoints Flora Jika as new logistics director

SOUTH AFRICA - Coca-Cola Beverages South Africa (CCBSA) has appointed Flora Jika as the new logistics director after working with the company for almost ten years, Business Day has reported. Jika, a holder of master’s degree in industrial engineering from Wits University, joined CCBSA in 2008 after a four-year stint at Anglo American’s Witbank coalfields.…

Stratus Group Beverage releases new range of kombucha drinks for US market

USA - US-based Stratus Group Beverage has released a new line of organic kombucha drinks for the US market, made exclusively with organic and non-GMO ingredients and feature a blend of fermented tea and a range of fruit flavours. According to FoodBev, KÖE Organic Kombucha range has five flavours initially available: Lemon ginger, mango, raspberry…

Keurig Dr Pepper Inc. reports second quarter 2018 results for Keurig Green Mountain and Dr Pepper Snapple Group

USA - Keurig Dr Pepper Inc., a leading producer and distributor of hot and cold beverages, has reported second quarter 2018 results for Keurig Green Mountain and Dr Pepper Snapple Group for the period ending June 30, 2018. According to the Keurig Dr Pepper, it had filed a Form 8-K/A with the U.S. Securities and Exchange…

UK firm Duet invests US$50m for a majority stake in Ajeast Nigeria

NIGERIA - UK based private equity firm Duet Private Equity (DPEL) has invested over US$50 million in AJEAST Nigeria Ltd, a Sub-Saharan Africa subsidiary of AJE Group, a multinational beverage company. According to the group, a significant share of the investment was allocated as growth capital and will aid in expanding its presence in Nigeria.…

Clover shares grow on expected increase in headline earnings

SOUTH AFRICA - The branded foods and beverages group, Clover Industries said it expects its headline earnings a share to increase by between 207.13% and 227.13% for the year to June, IOL reports. Following the announcement, its share price jumped by 2.14 % to $1.36 a share, from the previous price of $1.33. The release…