NZ: Coca-Cola Amatil signs deal to buy Baker Halls
Coca-Cola Amatil is seeking approval from New Zealand's competition authority to buy fruit drinks brand Baker Halls.
A Coca-Cola Amatil (CCA) spokesperson confirmed to just-drinks last night (8 December) that the soft drinks giant has signed an "agreement in principle" to buy Baker Halls, which is owned by the Old Fashioned Foods Group.
CCA has filed an application with New Zealand's Competition Commission.
Financial details of the deal have not been disclosed, but the spokesperson desribed the deal as a "small, non-material acquisition".
Baker Halls, founded by the Baker family in Central Otago nearly 100 years ago, claims to be the number one fruit juice syrup brand in New Zealand. It says its products are free of artificial preservatives, flavours and colours.
News of the deal comes less than a month after CCA itself was placed at the centre of takeover speculation, following a A$7.7bn (US$4.9bn) bid from Australian brewer Lion Nathan, which is owned by Japan's Kirin Holdings.
CCA has so far rejected Lion Nathan's advances as "materially deficient", upon advice from its own parent firm, The Coca-Cola Company.
Champagne and Cognac group Rémy Cointreau watched its full-year sales slip by 11.6% this week as demand for premium alcohol continued to drop. Michelle Russell assesses the group's prospects....
Coca-Cola Amatil has said that it expects high single-digit profits growth for the first half of 2009....
The top ten stories published on just-drinks this week:...
- Whatever happened to binge Britain? - comment
- How to turn a domestic spirit into a global brand
- The dangers of squaring up to your competitor
- The US beer market - A level playing field for all
- Remy Cointreau's Q2 and H1 - preview
- Sidney Frank CEO to head Clooney's import co
- Diageo sells off United Spirits' Bouvet Ladubay
- Captain Morgan distillation trial queried by USVI
- Irish whiskey brands could fail without bulk
- Sazerac sues Brown-Forman over Tennessee Fire
- Global Beer Trends 2015 : Global Beer Trends and Long-term Forecasts
- Global sparkling wine insights - market forecasts, product innovation and consumer trends research
- Future growth opportunities for global spirits
- Global Scotch whisky insights - market forecasts, product innovation and consumer trends research
- Global Wine Market to 2019 - Market Size, Development, and Forecasts