The cakes and pastries market in China is estimated to have $3 billion in annual sales and is growing at a compound annual growth rate of 15%, according to Mondelez. The acquisition will build on the company’s strategy to expand its global presence in the category.
The Coca-Cola System in Nigeria, comprised of Coca-Cola Nigeria and its authorised bottler, Nigeria Bottling Company (NBC), have announced plans to expand its investments in Nigeria over the next five years. The investment is expected to support value chain areas, including suppliers, distributors, retailers and recyclers.
Diageo North America has acquired non-alcoholic spirits brand Ritual Zero Proof, as part of its strategy to capitalise on the growing demand for alcohol alternatives. Launched in 2019, Ritual has quickly established itself as the top non-alcoholic spirit brand in the US, reflecting a significant shift in consumer preferences toward healthier beverage options.
Kind Snacks, a portfolio of Mars, has named Daniel Calderoni as chief executive officer of Kind North America to lead the company’s North America efforts. Calderoni succeeds Russell Stokes, who has been CEO of Kind North America since 2021. Stokes is now CEO at Casper’s Ice Cream. Prior to CEO, Stokes was chief strategy officer at Mars.
Nathalie Roos is stepping down as chief executive officer of Lipton Teas and Infusions for personal reasons. Her departure follows two years at the helm of the global tea company. Pierre Laubies, chair of the board, will assume the role of executive chair while the company searches for Roos’ successor.
