just The Round-Up - The week in drinks

By Chris Mercer | 30 August 2011

The week in drinks

The week in drinks

The top ten stories published on just-drinks last week:

Diageo's CEO has indicated to just-drinks that the group is unlikely to make an immediate move for Beam Global drinks brands once the US firm becomes a standalone spirits player.

Innocent Drinks has said that speculation that it is looking to sell the rest of the company to The Coca-Cola Co are "100% false".

Foster's  Group has reported full-year net losses of AUD89m (US$93m), but said it will hand AUD500m back to shareholders in the next 12 months as it seeks steer investors away from SABMiller's clutches.

Diageo has succeeded in gaining a strong foothold in Turkey's emerging spirits market by completing a deal to acquire Mey Içki for US$2.1bn.

Heineken  has reported a fall in half-year profits, despite higher beer sales, and has predicted that full-year profits will not rise on last year.

The CEO of Wines of South Africa has criticised claims of worker abuse in the country's wine industry as misjudged, unsubstantiated and biased.

Treasury Wine Estates has returned to profits in its latest full-year, but the newly-demerged wine group continues to face challenges from currency and consumer sentiment in key markets.

Australian Vintage has hailed progress on efforts to transform its business, despite reporting lower sales and profits for its fiscal year.

Fortune Brands is set to be dissolved and reborn as Beam Inc, a standalone spirits company, within the next six weeks.

Coca-Cola FEMSA has decided to cut its three business divisions down to two, as part of a group restructure.

Sectors: Beer & cider, Company results, Soft drinks, Spirits, Water, Wine

Companies: Diageo, Innocent, Coca-Cola Co, Heineken, Foster’s, Beam Global, SABMiller, Fortune Brands, FEMSA

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