Coca-Cola raises full-year guidance as Q2 revenues jump 42% buoyed by rebounding away-from-home consumption

US- Atlanta-based multinational soft beverage company, Coca-Cola Company is upbeat about its 2021 full year results following an impressive Q2 where sales from away-from-home consumption rebounded resulting in double digit growth in revenues.   According to a statement from the company, net revenues for the quarter amounted to US$10.1 billion, a 42% jump when compared to the same period last year.  The company’s organic revenues went up 37% while operating income rose by 52%. Coca-Cola also recorded a 26% growth in concentrate sales and 11% price/mix growth.  Global unit case volume benefitted from…

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Coca-Cola Israel expands into cultured milk production as US unit updates taste of coke zero

ISRAEL – Coca-Cola Israel, formally known as The Central Bottling Company (CBC), is diversifying into cultured milk production with a new strategic partnership with Israeli food-tech company BioMilk.  Under the new partnership, CBC will invest up to US$2 million in the development of BioMilk’s cultured milk products. BioMilk, on the other hand, will transfer its products to Tara Dairy, which is owned by CBC, for a “pilot commercial production”.   Transferring production capabilities to Tara Dairy will enable BioMilk to step up technological developments and accelerate its reach towards the fridges and shelves of consumers.  With the new partnerships,…

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Refresco to expand presence in German beverage market with acquisition of Hansa-Heeman

GERMANY – Refresco, the world’s largest independent bottler of beverages, has entered into an agreement to acquire Hansa-Heemann, a German independent beverage manufacturer that specializes in the production and bottling of mineral water and CSDs.  A majority of the company’s volume (60%) is in mineral water, with the remaining 40% in carbonated soft drinks.  The independent bottler has five production sites across Germany and serves three different market segments: private label, own brands, and contract manufacturing for A-brands.  Hansa-Heeman reportedly has annual revenues of approximately €300 million (about US$355 million) and employs over 800 people.  According…

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Namibia Breweries quenches thirst of beer lovers in DRC, signs distribution deal

DRC – The introduction of Namibia Breweries Limited’s beer brands in other markets across the region and overseas is gaining momentum, following the company’s recent partnership with Congolese Terra Trading Distribution SARL. NBL, the largest beverage manufacturer in Namibia, has appointed Terra Trading Distribution SARL as the sole importers of the various brands within its portfolio to the Democratic Republic of the Congo (DRC). The partnership will see the brewer’s stalwart Windhoek brand, distributed nationwide alongside the McKane range of premium mixers. According to the subsidiary of Ohlthaver & List…

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CCEP takeover of Coca-Cola Amatil inches closer to completion following shareholder approval

AUSTRALIA – Coca-Cola Amatil, one of the world’s five major Coca-Cola bottlers, has announced that its independent shareholders voted in favour of Coca-Cola European Partners acquiring the Australian firm for A$9.93 billion ($7.68 billion). Approval of the takeover is a major step forward in the takeover deal that was first announced in 2020 with an initial offer deal of US$6. 18 billion tabled by CCEP for a 69.2% stake in Australian counterpart. CCEP later sweetened its takeover offer in February to US$7.68 billion or A$13.5 per share from A$12.75 after…

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PepsiCo expands Mountain Dew portfolio as RedBull debuts new limited edition dragon fruit energy drink

US – U.S. multinational food and beverage company, PepsiCo has expanded its Mountain Dew portfolio with the launch of a zero-sugar version of its Mountain Dew Frost Bite drink. The new Mountain Dew Frost Bite Zero Sugar will be sold in 20oz bottles and 12-packs of 12oz cans and comes  on the heels of the Mountain Dew Frost Bite launch at Walmart last year. “Dew is thrilled to introduce Mountain Dew Frost Bite Zero Sugar for fans who want a delicious zero-sugar option,” said Nicole Portwood, vice president, marketing, Mountain…

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Canada’s top-selling CBD-infused beverage to launch in the US as more users embrace Cannabidiol

US – Quatreau sparkling water brand, Canada’s top-selling ready-to-drink CBD beverage, has launched in the United States and will be available in states that permit the consumption of cannabidiol (CBD). The beverage which is available in four flavors would be sold online for starters as its producer makes arrangement to have it stocked on store shelves before the end of the year. In an interview with CNBC, Canopy CEO David Klein told the business network his company would benefit from its relationship with Constellation Brands, which owns nearly 40% of…

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Diageo unveils alcohol-free Tanqueray gin variant to meet rising demand for low alcohol products

UK – British alcoholic beverages giant Diageo has launched an alcohol-free variant of its popular gin brand Tanqueray as part of efforts to align itself with shifting preferences of alcohol consumers. According to the alcoholic drinks major, the alcohol-free gin alternative is crafted from the same distilled botanicals as Tanqueray London Dry including juniper, coriander, angelica and liquorice. “Individually immersed in water, the botanicals are heated and then distilled to create the ‘distinct flavours’ associated with Tanqueray,” Diageo said in a statement. Tanqueray master distiller, Terry Fraser said: “we are…

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Hindustan Coca-Cola Beverages to source 50% of its energy from renewable sources

INDIA – Hindustan Coca-Cola Beverages (HCCB) has ramped up its renewable and clean energy capacity and will now be able to meet 50 per cent of its total energy requirements through these sources. The milestone is in sync with the company’s plan to reduce its carbon emissions 25 per cent by 2030 from a 2015 base year. HCCB achieved this milestone through increasing annual power generation from renewable sources from around 70 million units in 2019 to the current level of around 95 million units. To further lower its carbon…

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