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.
