SABMiller PLC Tuesday said the South African Competition Tribunal has approved a deal to combine the African soft drink operations of SABMiller, the Coca-Cola Company and Gutsche Family Investments, the South African owners of local bottler Coca-Cola Sabco.
The manufacturer, distributor and seller of beverages said the approval of the newly created Coca-Cola Beverages Africa will create the continent’s largest soft-drink beverage operation.
SABMiller said the merger parties have agreed to invest 800 million South African rand ($56.1 million) to support enterprise development for two groups of entrepreneurs. They will also create a ZAR400 million fund for enterprise development in the agriculture value chain, to support and train historically disadvantaged developing farmers and small suppliers, SABMiller said.
The parties will also make a ZAR400 million investment to develop downstream distribution and retail aspects of Coca- Cola Beverages South Africa, the company said.
Shares closed at 4217.50 pence valuing the company at 68.38 billion pounds ($100.06 billion).
By Olga Cotaga
Cargill will appoint Brian Sikes as its president and chief executive officer on 1 January 2023. The soon-to-be CEO, currently holding the chief operating officer title, has worked at Cargill for 31 years. Dave MacLennan, who has served as Cargill’s CEO since 2013, will assume the role of executive chair of the company’s board of directors.
Comforting colors, feel-good flavors, and unique food and beverage experiences will resonate most with consumers in the new year, according to ADM’s latest Flavor and Color Outlook. ADM anticipates that 2023 will be the year of self-expression, and the company identified four trends that are sure to stand out.
Nestlé’s Nespresso brand will pilot home-compostable coffee capsules on the Nespresso Original system in France and Switzerland from spring 2023 before further launches in several other European countries within a year. The paper-based capsules are touted as a breakthrough in packaging technology after three years of R&D.