Frucor, Groupe Danone’s Australian and New Zealand beverage business, has reportedly drawn the attention of a number of trade suitors as private equity firms drop out of the bidding. Danone has not yet officially put Frucor on the market but they announced a thorough review was underway in August and, with their recent refocus on health and wellness products, speculation of a sale has been strong. Frucor, New Zealand’s second largest non-alcoholic beverage manufacturer, is valued by analysts... ...Read more »

Reports suggest that strong interest has been generated in both the potential sales of Cadbury’s Australian beverage division and Frucor - owned by Danone. Companies consistently linked to bids have included P&N Beverages, Coca-Cola Amatil and National Foods, although competition concerns could play  a factor in the process, with Coca-Cola Amatil likely to be the most heavily scrutinised by the ACCC - according to analysts. Groupe Danone reported at the end of August that a review of their... ...Read more »

The reputation of global coffee chain leader Starbucks has taken a hit in recent months, with declining sales leading to 600 store closures in America and a further 61 in Australia (more than two-thirds of their Australian outlets). The company is by no means in dire straits, quarterly revenue of US$2.57 billion highlights that point, but things certainly don’t look as rosy as they did just a couple of years ago. Starbucks posted their first quarterly loss on Wednesday since going public in... ...Read more »

Starbucks has announced they will close more than two-thirds of their Australian outlets by Sunday August 3. The decision to close 61 of their 84 Australian stores was finalised following a meeting of store managers yesterday afternoon, and comes at the end of a turbulent month for the company. The American coffee giant announced earlier this month that they would close 600 stores in America as part of their “transformation strategy” in the wake of declining sales caused, in part, by... ...Read more »

Starbucks cafés are set to close at 2pm this afternoon for a meeting between managers, which has fuelled speculation the company may close stores in Australia. An email sent to the Sydney Morning Herald last night suggested that store managers were asked to shut up shop at 2pm to attend a 4pm meeting, and rumours are beginning to circulate that the Seattle-based giant may even pull out of Australia. The news comes following the announcement of 600 store closures in the US at the beginning of the... ...Read more »

InBev and Anheuser-Busch today announced an agreement to combine the two companies, forming the world’s largest global brewer. In order to seal the amicable deal, InBev had to increase their initial $65/share offer to $70 - valuing the US brewer at US$52 billion. The industry-transforming transaction between the second and third largest brewers occurs five weeks after the initial proposal by InBev. The relationship between the two companies threatened to become fractured with suits... ...Read more »

What was originally meant to be an amicable deal between the second and third largest brewers in the world has quickly degenerated into a hostile bid with lawsuits being filed by both parties. InBev, the Belgian giant, last month made an friendly but unsolicited bid of $US46b for Anheuser-Busch, which was dismissed by the Anheuser Board due to concerns it did not provide fair value for the US-based company. Since the Board made their opinion public InBev has filed a preliminary consent... ...Read more »

Ever since the AGM of Coca-Cola Amatil (CCA) in the middle of May rumours have been circulating that CCA will consider a takeover of Foster’s or the beverage operations of Cadbury-Schweppes. The rumours strengthened when CCA CEO, Terry Davis, told reporters at the time that a purchase of Schweppes would make sense. However, some believed this was merely a diversion and their real target was Foster’s. Mr Davis has now quashed the Foster’s speculation via an interview with... ...Read more »

Starbucks Corporation has announced the next step in its multi-faceted plan to transform the company, with a decision to close approximately 600 underperforming company-operated stores in the U.S. market. The decision followed extensive evaluation of their US company-operated store portfolio and includes the 100 stores targeted for closure in the company’s previously announced plans. In addition, Starbucks now expects to open fewer than 200 new U.S. company-operated stores in fiscal 2009, below... ...Read more »

Amcor has announced today that it will build a third glass furnace at its wine bottle plant in Gawler, South Australia.The new furnace, which is expected to cost $150 million, is due for completion during the first half of calendar 2010. Upon completion, the site will have three furnaces with an annual capacity of 600 million wine bottles. Amcor claim the new furnace is consistent with the approach in building the first two furnaces, as returns are to be underpinned by long term customer supply arrangements. Amcor’s... ...Read more »