Food & Beverage
McDonald's will increase the number of audits it conducts of suppliers in China, the firm said on Tuesday, after a food scandal in July dented China sales at the US fast food chain and rival Yum Brands.
In a statement emailed to Reuters on Tuesday, the restaurant chain said half of the audits would be done unannounced and would be carried out by third party auditors and internal teams.
Industry insiders had told Reuters that suppliers in China often knew about audits in advance.
Chili’s Grill & Bar, the American casual dining restaurant chain, has embarked on an expansion drive in India wherein it plans to set up 10 more outlets within two years with an investment of about USD10 million (about Rs. 60 crore). The chain has presence through over 1,500 restaurants across 33 countries and operates 10 restaurants in India, of them five are in the Western and Southern part of the country.
McDonald's on Wednesday became the latest food giant to enter the retail coffee market, announcing plans to market a variety of coffee products under its McCafe brand.
Partnering with food giant Kraft, the fast-food chain will market ground coffee, whole bean and single-cup products at supermarkets and other stores for home brewing.
The products will be launched in early 2015, McDonald's and Kraft said.
FamilyMart, the second largest convenience store chain in Taiwan, expects a 15-percent growth in sales of bread and baked goods thanks to the launch yesterday of prepackaged rice-flour based pastries.
The Coca-Cola Company is set to purchase 16.7 percent equity stake in Monster Beverage Corp., paving the way for a partnership that is expected to spur growth of the brands in the global energy drink category.
Under the agreement, Coca-Cola Company will make a net cash payment of USD2.15 billion and transfer its worldwide energy business to Monster. In exchange, Monster will issue to The Coca-Cola Company the shares of Monster common stock, transfer its non-energy business to The Coca-Cola Company, and enter into expanded distribution arrangements.
Strong sales in new and existing stores allowed homegrown fastfood giant Jollibee Foods Corp. (JFC) to post significant profit growth in the first semester of the year.
The quickservice restaurant chain is bullish on recording higher full-year earnings despite operational difficulties that prompted the company to close several stores across different brands, its top executive said.
lready the largest beer market in the world by volume, China is expected to overtake the US as the world's largest beer market by value within the next three years, a recent industry report has forecast.
According to Euromonitor International, the beer market in China was 79 percent of the size of the US market in 2013 (in fixed exchange rate terms), but is expected to record growth of 45 -ercent by 2017 to make it the global leader, Asia Outlook reported.
McDonald's reported its worst monthly calendar-adjusted global same-store sales since early 2003 as it deals with a meat-supplier scandal in China and continued weakness in the US.
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Japanese food and beverage companies which are aggressively developing their halal industry are looking to establish centres in Malaysia. Japan External Trade Organisation (Jetro) said Malaysia has shown good progress in the halal industry and that Japanese companies were keen to establish and expand their market throughout Malaysia.
Tony Leon the former boss of Coles's Liquor division and the mastermind behind Woolworths's Dan Murphy's superstores, has aggressive expansion plans after buying a 50 percent stake in retail chain Steve's Liquor.
Steve's Liquor runs five stores in Victoria and Tasmania and a liquor wholesaling business and is planning to use that as a springboard to triple in size within three to five years.
Leon said on Thursday there were plans in place for strong organic growth, but also the potential for further acquisitions.