La Costeña to expand its bean canning in Minnesota

More than US$100 million is to be invested in the expansion of a food canning plant in the US following its acquisition two years ago by La Costeña, one of Mexico’s largest canners.La Costeña wants to make a bigger impact in the US, and the expansion of the Faribault Foods plant in Minnesota, which will increase output by 30...

Soda tax in Philadelphia has hit sales, say retailers

Income from the controversial ‘soda tax’ launched in Philadelphia from the beginning of January was more than double than was expected.Philadelphia Mayor Jim Kenney announced yesterday that the tax on sugar-sweetened and diet drinks raised US$5.7 million in its first month. The 1.5 cent per ounce tax, introduced to pay for pre-school and other community programmes, and amounting to...

Anheuser-Busch InBev shows confidence in China market

Anheuser-Busch InBev has officially opened its latest brewery – located in Putian, China – which reportedly will have the capacity to produce 1.5 million tonnes of beer a year, making it the largest brewery by volume in the Asia Pacific region.The brewery was commissioned for operation on Wednesday 6 December and according to the world’s largest brewer, the novel...

New chief executive for Starbucks

Chief executive of coffee chain Starbucks Howard Schulz will be relinquishing the job next April so that he can focus on innovation, and the acceleration of ultra-premium retail formats.Kevin Johnson, current president and operations chief, will take over as chief executive.Schulz, who had been chief executive since 2008 and previously served in the same post from 1987 to 2000,...

Justin Timberlake backs flavoured water brand Bai

Bai Brands, one of the fastest-growing canned flavoured-water brands in the US, is poised for even bigger growth.Pop star Justin Timberlake -- his latest hit is Can't stop the Feeling! -- has invested in the Trenton, New Jersey, drinks producer, and will become its first chief flavour officer.He will also star as the face of the Bai brand in a...

Healthy brands boost Coke’s second-quarter performance

A strong performance from its Zero Sugar and Diet Coke brands has allowed Coca-Cola to beat expectations in its second quarter results, with a 5 percent rise in revenue in the quarter and a 34 percent increase in operating profit to $2.7 billion.However, net revenue in the quarter fell 8 percent to $8.93bn, with the beverage giant attributing this...

Craft brewers around Nashville rise to the call for canned beers

One of the fastest-growing craft brewers in Nashville, Tennessee, has started packing beer in cans following their rising popularity in the area.Family-owned Turtle Anarchy Brewing Co has been constructing a new brewery and tap room in The Nations neighbourhood of the city. In a deal with Lipman Brothers, the first two canned beers, its best sellers Portly Stout and...

Coca-Cola records loss in fourth quarter

A loss of US$2.7 billion was recorded by The Coca-Cola Company in the fourth quarter of 2017 as its refranchising and restructuring plans continue to take effect.Sales in the three months were down 20 percent to $7.51bn compared with the same period in 2016. The sales decline is said to be attributable to the operational changes put in place...

Six month sales and volume up at Heineken

Sales in the first half of the year at Dutch-based Heineken, the world’s third largest brewer, were up by 4.7 percent at €10.09 billion (US$11.27bn), compared with the first half of 2015.Operating profit was also up by a healthy 10.1 percent at €1.71bn ($1.9bn).Volumes were up by 6 percent for the world’s ‘most international brewer’. Net profit at €586m...