Food; Beverage & Tobacco News

Coca-Cola Buys AB InBev Out of Africa Unit for $3.2 Billion

Coca-Cola Buys AB InBev Out of Africa Unit for $3.2 Billion

Coca-Cola Co. will pay $3.15 billion to buy Anheuser-Busch InBev NV out of an African bottling joint venture after the Budweiser brewer’s takeover of the U.S. beverage company’s partner in the region.

Dunkin' Donuts Arrives in South Africa to Challenge Krispy Kreme

Dunkin' Donuts Arrives in South Africa to Challenge Krispy Kreme

South Africans wanting hot glazed doughnuts with a gulp of coffee can now choose between two U.S. brands — Dunkin’ Donuts and Krispy Kreme.

Aliko Dangote, Chairman, Dangote Group

Africa's richest man Aliko Dangote to invest $170M in rice & sugar production in Nigeria

Aliko Dangote, Africa’s richest man, has announced that he will invest more than $170 million in the production of rice and sugarcane in Nasarawa state, north-central Nigeria.

Nigerian biscuit maker Beloxxi lures $80M private equity investment

Nigerian biscuit maker Beloxxi lures $80M private equity investment

Nigeria’s snacks industry has attracted the interest of a private equity firm founded by Sir Bob Geldof in a boost for Africa’s biggest economy.

Duet launches new PE fund focused on distressed Nigerian companies

Duet launches $400M private equity fund focused on distressed Nigerian companies

Duet Private Equity has signed an exclusive agreement with the Asset Management Corporation of Nigeria (AMCON) to establish an investment fund focused on Nigeria’s fast-moving consumer goods (FMCG) sector.

A Diageo factory in Accra, Ghana, produces Orijin Bitters. Credit: wsj.com

Why Diageo, PZ Cussons, and Atlas Mara are betting big on Africa

As growth in China slows after two decades of breakneck economic development, Western companies are increasingly turning towards India and Africa as the next great untapped opportunities.

AB InBev agrees to concessions with South Africa over SABMiller deal

AB InBev agrees to concessions with South Africa over SABMiller deal

Anheuser-Busch InBev will invest 1 billion rand ($69 million) to support South African farmers as part of concessions agreed with the government to secure regulatory approval for its $100 billion-plus takeover of SABMiller.

Olam steps up Nigeria milling business with $150 million investment

Olam steps up Nigeria milling business with $150 million investment

Olam aims to cement its wheat milling stature in Nigeria. The agribusiness company is stepping up its wheat milling business in Nigeria as it invests $150 million in the country.

Sunny Verghese, Co-Founder, Group Managing Director and CEO, Olam

Olam Bets on Africa Reward as On-The-Go Food Demand to Climb

Olam International Ltd., one of the world’s largest food traders, is hunting for more investments in Africa as it looks to benefit from the continent’s increasing appetite for everything from instant noodles to lollipops.

Aliko Dangote, Chairman, Dangote Group

Africa's richest man Dangote opens Nigeria tomato factory to vie with Chinese imports

Dangote Group, owned by Africa’s richest man Aliko Dangote, opened a tomato-processing factory near Nigeria’s northern city of Kano aimed at vying for the local market with imports from China.

Coca-Cola announces strategic investment in Nigerian dairy and juice company Chi Limited

Coca-Cola acquires 40% of leading Nigerian dairy and juice company Chi Limited

The Coca-Cola Company and Tropical General Investments Group (TGI Group) – the holding company of Chi Ltd, Nigeria’s leading dairy and juice company – announced on Saturday a binding agreement for The Coca-Cola Company to acquire an initial minority equity shareholding in Chi Ltd.

Nigerian billionaire Abdulsamad Rabiu, Chairman, BUA Group. Credit: forbes.com

Nigerian billionaire Abdulsamad Rabiu sells flour milling business to Singapore's Olam for $275M

BUA Group, one of Africa’s largest food and infrastructure conglomerates, has sold its flour business to Olam International of Singapore for $275 million.

Multinationals in Africa are growing revenues but losing market share to local rivals. Credit: Reuters/Phillimon Bulawayo

Multinationals in Africa are growing revenues but losing market share to local rivals (Infographics)

Whether its Starbucks opening its first coffee store in sub-Saharan Africa next year, or fast-fashion retailer, H&M, opening its first African store in Cape Town, multinationals are lining up to cash in on the vast opportunities in Africa’s growing consumer goods market.

Africa expansion drives SABMiller, AB InBev mega-merger

Africa expansion drives SABMiller, AB InBev mega-merger

Access to African markets is a key driver in the planned mega-merger of brewing giants SAB Miller and AB InBev, according to industry insiders.

Aliko Dangote, pictured with his daughter, Halima, at the TIME 100 Gala in New York. Credit: dailymail.co.uk

Aliko Dangote: 5 Things You Can Learn From Africa's Richest Man

A look into one of the wealthiest men on the planet, and what we can learn from his story.

AB InBev to acquire South Africa's SABMiller for $104B in largest beer industry takeover ever

AB InBev to acquire South Africa's SABMiller for $104B in largest beer industry takeover ever

The world’s two biggest beer producers are set to merge after SABMiller accepted an increased takeover offer from rival Anheuser-Busch InBev.

Dominique Lafont, Senior Advisor, KKR

KKR to invest $100M in Africa over the next year and make Nigeria regional base

KKR & Co. L.P. might be turning to Africa as its next hotspot for private equity investments.

SABMiller said to have rejected $100B offer from Anheuser-Busch InBev

SABMiller said to have rejected $100B offer from Anheuser-Busch InBev

SABMiller Plc rejected an informal takeover offer from Anheuser-Busch InBev NV of about 66.4 billion pounds ($100 billion) that it considered too low, according to people familiar with the matter.

Peter Matlare, CEO, Tiger Brands

Tiger Brands CEO Peter Matlare to step down at year-end

Tiger Brands Ltd. said Chief Executive Officer Peter Matlare will leave South Africa’s largest food producer at the end of the year.

Heineken's Nigeria unit to raise $502M to support growth

Heineken's Nigeria unit to raise $502M to support growth

Nigerian Breweries Plc, the West African nation’s largest brewer, said it plans to sell 100 billion naira ($502 million) in debt to boost liquidity and support growth even as lower crude prices impact spending in the continent’s most populous country.

Matome Mbatha, Market Manager, Africa & Americas, Wines of South Africa (WOSA)

South Africa wine body pairs Nigeria with red, Angola with fizz

South African wine producers are trying to cater for Angolans’ thirst for sparkling wine and Nigerian demand for bottles of red to penetrate the African market, according to the country’s leading trade body for the industry.

World's largest brewer Anheuser-Busch InBev approaches South Africa's SABMiller for record industry acquisition

World's largest brewer Anheuser-Busch InBev approaches South Africa's SABMiller for record industry acquisition

Anheuser-Busch InBev NV said it intends to make an offer to acquire SABMiller Plc in a deal that would unite the world’s two biggest beermakers and control about half the industry’s profit.

Johann Vorster, CEO, Clover

Clover Mulls Building South Africa's First Dairy Mega-Factory

Clover Industries Ltd. is considering building South Africa’s first dairy mega-factory to boost exports to the rest of the continent from a country that consumes about 98 percent of the milk it produces, potentially countering the need for future volume and price cuts.

Workers harvest grapes by hand at a vineyard in South Africa. Photographer: Peter Titmuss/Universal Images Group via Getty Images

South Africa Promotes Expensive Wines to Boost Exports

South African wine makers are promoting higher-priced bottles to boost sales in established European markets and make inroads in the U.S. and Asia where they hardly have a presence, the head of a local industry organization said.

Cereal maker Kellogg to buy $450M stake in Nigeria's Multipro to grow in Africa

Cereal maker Kellogg to buy $450M stake in Nigeria's Multipro as part of Africa expansion

Kellogg Co. agreed to buy a 50 percent stake in Nigerian food distributor Multipro for $450 million and is creating a joint venture with Tolaram Africa to help expand on the continent.

Diageo to increase equity stake In Guinness Nigeria to 70%

Diageo to increase equity stake In Guinness Nigeria to 70%

Diageo Plc. said that it has approached the Board of Directors of Guinness Nigeria plc with an intention to make an offer to increase its equity stake in Guinness Nigeria from 54.3% up to a maximum of 70% and to maintain Guinness Nigeria’s listing on the Nigerian Stock Exchange.

Supermarket group Choppies wants to have 200 stores by the end of next year

Opportunities multiply as African ventures eye wider horizons

When Choppies opened its first store in Lobatse, a small town in Botswana, its ambition was limited to becoming a retailer of substance in its domestic market.

Nigeria's Biggest Miller Targets Acquisitions for Growth

Nigeria's Biggest Miller Targets Acquisitions for Growth

Flour Mills of Nigeria Plc, the country’s biggest miller by market value, will seek expansion opportunities in Africa after streamlining its domestic business to focus on food in the continent’s biggest economy.

Under the deal, Diageo is selling a 42% stake in DHN Drinks Ltd. and a 15% stake in Namibia Breweries to Heineken. Photographer: Adam Berry/Bloomberg

Diageo Dissolves Heineken Venture to Go Solo in South Africa

Diageo Plc said it’s dissolving a joint venture with Heineken NV in South Africa and neighboring Namibia three years earlier than planned so the world’s largest distiller can fully own its operations in those countries.

Agricultural Growth in West Africa - Market and Policy Drivers: FAO

Huge opportunities for agriculture growth in West Africa: FAO (Report)

New report sees regional integration as high road to making the most of changing food patterns and dynamic populations. West Africa has unprecedented opportunities for agricultural growth, but making the most of them will require more effective regional integration.

Starbucks comes to South Africa in 2016

Starbucks comes to South Africa in 2016. First in Sub-Saharan Africa

Starbucks Coffee Company and Taste Holdings announced on Tuesday a licensed partnership that will see Starbucks stores open across South Africa.

Africa's richest man Aliko Dangote on the Africa opportunity

Africa's richest man Aliko Dangote on the Africa opportunity (Video)

Dangote Group is one of Africa’s leading industrial conglomerates, with interests in everything from cement to food. Yet one of the most promising ventures, in the eyes of founder, president, and CEO Aliko Dangote, is to develop Nigeria’s natural-gas sector into an export industry.

Booze firms toast Africa's ripening market. Credit: spierwines.co.za

Booze firms toast Africa's ripening market

For wine and spirits companies looking to expand their businesses, Africa and its growing middle class clamoring for refined tipples is now one of the world’s fastest-growing beverage markets, analysts say.

Angola’s $750 Million Sugar-to-Fuel Project to Start in June.

Angola's $750M Sugar-to-Fuel Project to Start in June

A $750 million project to produce ethanol and sugar in Angola will start next month after a year of delays as costs rose 50 percent on a plantation larger than Montreal.

Elsie Kanza, Senior Director & Head of Africa, World Economic Forum

Looking back to move forward: Elsie Kanza, Senior Director & Head of Africa, World Economic Forum

In 1992, one year after the end of the apartheid era in South Africa, the two leaders that would broker the country’s future trajectory appeared together at a forum in Switzerland.

Oceana's Lucky Star canned fish is one of the most loved brands in South Africa.

Oceana of South Africa to buy US fishery Daybrook in $382M deal

Oceana Group Ltd., South Africa’s largest fishing company, said it plans to buy Daybrook Fisheries, the U.S.’s second-biggest processor of Gulf menhaden fish, for $382 million.

Stock Market

Samba Foods becomes first Ghanaian company to list on Ghana Alternative Market (GAX)

Samba Foods Limited, an indigenous food processing and preservation business, became the first local company to list and trade its shares on the Ghana Alternative Market (GAX).

Diageo's Baileys Original Irish Cream - Could Africa be the motor for Baileys' future growth?

Diageo: Could Africa Be The Motor For Growth?

Diageo is a leading alcoholic beverage manufacturer, producing world famous brands such as Johnnie Walker, Smirnoff, Baileys, and Guinness.

Aliko Dangote, Chairman, Dangote Group

Africa's richest man Aliko Dangote eyes 2016 London Stock Exchange listing of Dangote Cement (Video)

Africa’s richest man, Aliko Dangote, plans to list Dangote Cement on the London Stock Exchange sometime before the end of 2016. Aliko Dangote is the Chairman of Dangote Group, one of Africa’s largest conglomerates.

Addis Ababa, Ethiopia

Ethiopia: The Addis millionaire's club

At first glance, Ethiopia would seem like a tough place for business owners to make it big. The strength of the state stands in contrast to the fledgling private sector, where foreign competition is barred in key industries and big sectors are entrusted to state-owned companies.

SABMiller’s Peroni brand is not as popular in South Africa as is the local Chibuku Super brand (Source: Getty)

SABMiller sees Africa expansion pay off as continent booms

SABmiller sales crept up in the last quarter as the world’s second largest beverage firm’s focus on African markets paid off it emerged yesterday.

Tusker Lager is one of the beverages brewed by East African Breweries

Kenya's East African Breweries says $54M medium-term note oversubscribed

Kenya’s East Africa Breweries Ltd (EABL) said on Tuesday the first tranche of medium-term note it issued in March to raise 5 billion shillings ($54 million) was oversubscribed, attracting 9.05 billion shillings in bids.