Food & Beverage
PepsiCo Inc on Monday said the company and its partners have plans to invest Rs 33,000 crore (USD5.5 billion) in India by 2020. In a statement, PepsiCo Chairman and Chief Executive Officer, Indra Nooyi, said, “India is a country with huge potential and it remains an attractive, high-priority market for PepsiCo. We’ve built a highly successful business in India over the course of many years, and we believe we’ve only scratched the surface of the long-term growth opportunities that exist for PepsiCo and our partners.
Carlsberg A/S's pursuit of faster growth in Asia may make takeover targets out of Tsingtao Brewery Co and Beijing Yanjing Brewery Co. The Danish brewer's controlling shareholder signaled last month that it will give Carlsberg more leeway to pursue deals. The USD15 billion company is eyeing about a half-dozen potential candidates, especially in Asia, including Tsingtao and Yanjing, for a possible purchase, said a person with knowledge of the matter, who declined to be identified as the discussions are private.
McDonald's Corp reported lower-than-expected comparable-restaurant sales as sales fell in Japan. The world's largest hamburger chain warned a few weeks ago that global sales at established restaurants would be relatively flat in October, and signaled that weakness would continue in the fourth quarter amid stiff competition and a halting economic recovery.
Wines from Spain and the New World are gaining ground in China at the expense of their French counterparts, as increasingly adventurous Chinese wine enthusiasts push back the frontiers of a surging market, say experts.
Exports of Spanish wines surged 40 percent year-on-year in China in the first half of the year, according to Chinese customs reports, and it is now the third-biggest exporter of bottled wine to the lucrative wine market behind France and Australia.
Mars International India, which imports and markets its chocolate brands in India, is scouting for locations to start manufacturing in New Delhi. The company, which so far has been focussing on growing its Snickers brand, launched its tablet chocolate brand Galaxy in India on Thursday.
Shashwat Goenka, scion of R.P. Sanjiv Goenka-owned Spencer’s Retail, is repositioning the brand as a ‘food-first’ retailer. The company is looking to differentiate its hypermarkets by offering gourmet products apart from general merchandise. The 23-year-old Wharton-educated Goenka will be rolling out Epicuisine hub, a gourmet and live kitchen inside the Spencer’s hypermarket formats to cater to the growing demand for gourmet products.
Fast moving consumer goods major Nestle has pledged to accelerate the reduction of salt across all its food brands worldwide to support a World Health Organisation salt target of no more than 5 gram of salt per person, per day, by 2025.
A decision has been taken to further reduce salt levels across Nestle’s savoury products including soups, noodles and recipe mixes. Moreover, all culinary innovations launched are to be formulated with an even lower level of sodium, said the company.
Coca-Cola Amatil is the latest discretionary business to fall foul of weaker than expected consumer demand following the federal election and has said this morning it expects its full-year pre-tax earnings to slide by between 5 to 7 percent calendar 2013.
Dabur scion Amit Burman’s Lite Bite Foods and Jubilant Foodworks are close contenders to become master franchisees for the US fast food chain Burger King. “Lite Bite Foods has held discussions with Burger King for a tie-up but it is not conclusive yet”, a Dabur spokesperson said when contacted. Ajay Kaul, CEO, Jubilant Foodworks, declined to comment.
Cigarette-to-foods conglomerate ITC Ltd is set to enter a new segment — branded ready-to-drink juices. The company is close to acquiring Bangalore-based Balan Natural Food Pvt Ltd’s B Natural brand to roll out packaged fruit juices under its foods category.