Weekly Round-Up… 18 June, 2019
Smurfit Kappa has spent €81 million buying up most of the shares in its Colombian unit that it did not already own. The Dublin-based company said that its stake in Carton de Colombia has increased from 69.9% to 97.7% as a result of the tender offer, which closed on 6th June. Smurfit Kappa launched the offer in March.
Ornua announced on Tuesday that Denis Cregan has been appointed the Chairman of Ornua following the resignation of Aaron Forde. Having led the Board for six successful years, Aaron Forde has recommended the appointment of an Independent Director to oversee the Board while it is reviewing its governance structures.
Aldi has entered the Chinese market, opening two pilot stores in Shanghai using a format designed by Landini Associates. The Chinese stores have sparked enormous local interest, with the retailer having to manage queues outside the stores to ensure shoppers could get in. The stores are an evolution of those that the agency developed for its stores in Australia, but with key differences for the Chinese market, such as smaller stores to match their trends.
Mondelēz International has launched Cadbury Dairy Milk 30% Less Sugar in India to offer its consumers greater choice. The company claims that the new variant will be free from added artificial sweeteners. Mondelez India president Deepak Iyer said: “We are delighted to be launching this product in India, given the love and following Cadbury Dairy Milk has in our country. This is the most significant innovation in the brand’s history in India.
Total whisky sales in the UK are predicted to grow 6% in value to £2.4 billion by 2022, according to a report by Edrington-Beam Suntory (EBS). The report, which sources data from CGA and Nielsen, also forecasts 2.7% growth in volume terms to 7.6 million. The Whisky Yearbook report predicts Scotch single malt whisky will be one of the growth sectors in whisky throughout 2019 and into the next decade.
Owner of G&J Distillers in Birchwood, Quintessential Brands Group, have raised £21,302 for St. Rocco’s Hospice in Warrington, following a charity bike ride that saw a group of its employees embark on a gruelling 350-mile journey from Warrington to Dublin. A cheque was presented to Pam Massey, CEO of St. Rocco’s Hospice, by two G&J Distillers employees who participated in the ride, Kris Dickenson and Denise Smith.
Food company Raisio is investing an estimated €45 million in the production facility developing and manufacturing plant-based added value products. With the investment, Raisio responds to the strong growth in demand for plant-based food, particularly in the European markets. The project is funded by the company’s strong cash position and cash flow. The investment strengthens Raisio’s position as a specialist in plant-based food and supports growth in line with the company’s strategy.
A.G. Barr, which produces and markets some of the UK's leading drinks brands, including Irn-Bru, announced a minority interest investment in a new business start-up, Elegantly Spirited Limited, the owner of the STRYYK brand. Elegantly Spirited Limited seeks to capitalise on the growing demand for non-alcoholic adult drinks with a new portfolio of zero proof spirits under the STRYYK brand. As part of the Minority Investment, A.G. Barr's subsidiary business Funkin has entered into a long-term agreement to act as exclusive UK distributor for all Elegantly Spirited Limited products.
© 2019 Checkout – your source for the latest Irish retail news. Article by Aidan O’Sullivan. Click sign-up to subscribe to Checkout.