Fast food chain McDonald’s is selling a majority stake in its China business, valuing the enterprise at up to $2.1 billion. Chinese state-backed conglomerate Citic Ltd., Citic Capital Holdings and U.S. private-equity firm Carlyle Group LP will acquire an 80 percent holding in a deal valuing the business at as much as $2.08 billion, according to a statement Monday. Citic will own 52% of McDonald’s China operations, while Carlyle will own 28%. The new partnership plans to add more than 1,500 locations in China over the next five years. McDonald’s currently has 2,400 locations in China and 240 locations in Hong Kong. Franchising allows it to take a slice of sales while cutting operating costs.
Ogeu, group of mineral waters, has reached an agreement to purchase the source of Quézac, in France, from Nestlé. The two groups have announced today the agreement, which puts an end to negotiations lasted two years. The amount of the sale was not disclosed. There are no cuts in jobs, as stated in the joint statement. With this operation, Ogeu hopes to strengthen the segment of mineral waters in France. The sale of Quézac, with an annual turnover of 20 million euros, reflects according to Nestlé Waters France its "strategic will to concentrate its resources on its national and international flagship brands".
Barry Callebaut has strengthened its partnership with the American company Mondelez through the purchase of equipment for the production of chocolate in Belgium. The news was announced in a statement Saturday in which are still not disclosed details on the amount of the financial transaction. The world number one in the cocoa sector will resume the works of Hal, near Brussels. The agreement should allow the Zurich group better fit into the quality of the chocolate market in Belgium.
The japanese beer group Asahi said Tuesday it has agreed to acquire beer brands SABMiller Plc’s eastern European assets including Pilsner Urquell from Anheuser-Busch InBev NV for 7.3 billion euros ($7.8 billion), The deal gives bigger international heft to Asahi, which is one of the top beer makers in its home market of Japan, but only a small player globally. Asahi said it planned to acquire brands in the Czech Republic, Poland, Hungary, Slovakia and Romania. AB InBev said it had made commitments to the European Commission to sell the CEE Business under the business combination with SABMiller.
PepsiCo announced on Monday that it will start reducing the amount of sugar in its soft drinks all over the world and that by 2025 at least two thirds of its drinks will have 100 calories or fewer from added sugar per 12 oz serving, up from about 40% now. PepsiCo and rival company Coca-Cola have faced mounting pressure from health experts and governments who point to their products as a driver for obesity and diabetes, Fortune reports. Its 2025 goals also include targets for lowering sodium and saturated fat.
Nestle and Britain's R&R Ice Cream have completed the transaction to create their new Froneri ice cream and frozen food joint, Nestlè said on Monday. The 50/50 joint venture will combine Nestle and R&R ice cream businesses across Europe, the Middle East, Argentina, Australia, Brazil, the Philippines and South Africa. Froneri will also include Nestlé’s European frozen food business (excluding pizza and retail frozen food in Italy), as well as its chilled dairy business in the Philippines. Operational headquarters will be located in the UK. The terms of the transaction were not disclosed.
Iceland, the name, could be a problem. Like the movie Kramer vs Kramer, the country is hoping to get Iceland, the British frozen foods giant to relinquish their trademark on Iceland, the word, within the European Union. Iceland’s ministry of foreign affairs told the PA that is considering action against the retailer, considering a cancellation action against its ownership of the Iceland trademark in the EU. A few years ago, filing such a lawsuit was first discussed, but the next steps will be decided at a meeting on September 28.
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