Kirin Holdings has announced that it is discussing the prospect of a $51 billion merger with Suntory that would create the world’s fifth largest food and beverage firm and potentially shake-up the beverage sector in Australia. In their statement to the market yesterday Kirin stressed the Suntory discussions were at an “initial stage”. “Nothing has been resolved or reached an agreement at this stage,” they advised. “Kirin will make immediate announcement once anything... ...Read more »
Food and beverage firms Kirin Holdings and Suntory are reportedly in talks regarding a potential multi-billion dollar merger, which could have ramifications on the beverage landscape in Australia. Nikkei English News, citing unidentified people, said the Japanese companies were hoping to reach an agreement by year’s end, with talks between the leaders of the two companies progressing since the end of 2008. Both companies have recently been looking overseas to diversify their portfolios and... ...Read more »
Groupe Danone has successfully completed the sale of its drinks subsidiary Frucor, based in New Zealand and Australia, to Japanese-based Suntory. The deal had been struck in October for an amount of over €600 million in cash (around A$1.2b) after a bidding battle began in September, with Coca-Cola Amatil and Fraser & Naeve reportedly among the unsuccessful bidders.”This divestment stems from Danone’s recent refocus on natural mineral water and spring water based beverages and will... ...Read more »
Japanese-based Suntory Limited has signed an agreement with Danone Asia Pty Ltd, a subsidiary of Groupe Danone, to purchase their beverage business Frucor. The sale was completed for an amount of over €600 million (about A$1.2b). Danone announced a review of Frucor, their Australian and New Zealand-based beverage business, in August as they continued to refocus on becoming a health and wellness company. They began the bidding process in September with a number of suitors reportedly keen... ...Read more »
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 »
Coca-Cola Amatil has announced they are on track to meet profit guidance and may have found the right energy drink to compete with V and Red Bull, with sales of Mother surpassing expectations. “Notwithstanding the volatile market conditions, CCA has experienced solid trading in the third quarter,” a statement from the company advised. “The Australian beverages business has cycled very strong volume growth in Q3 2007 and delivered performance in line with expectations. The Australian... ...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 »
Rumours continue to circulate that Pepsi are sounding out new bottlers for their brands in New Zealand and Australia. The Australian Financial Review last week reported that PepsiCo was discussing their options with potential bottlers in the wake of news that both their New Zealand and Australian partners were reviewing their operations. Frucor, a subsidiary of Danone, is Pepsi’s current New Zealand bottler and Danone recently indicated that a review of operations is underway, with... ...Read more »
Groupe Danone, in response to speculation that a sale of their Australasian beverage group Frucor in on the horizon, has reported that a review of the company has been initiated. “Over the last six years, Frucor has played an instrumental role in the development of Danone’s strategy for beverages,” the company said in a statement. “In light of the Group’s recent refocus on purity and naturality within its Waters division, Danone is conducting a thorough review of all... ...Read more »