BRITAIN'S CADBURY SCHWEPPES ACQUIRES AMERICA'S HAWAIIAN PUNCH
LONDON, UK -- Cadbury Schweppes PLC of the UK already dominates the US
non-cola carbonated soft drink market with leading brands including: Dr. Pepper, 7Up and
Canada Dry brands. It has just entered into an agreement with Procter & Gamble Co. to
purchase Hawaiin Punch for US$203 million in cash. Hawaiian Punch is America's leading
non-carbonated fruit punch brand.
This acquisition is consistent with Cadbury's stated goal of developing its line of candy and American
soft drinks.
Cadbury's move to acquire a niche product with greater potential for growth than the growth
potential in the highly competitive carbonated drinks market appears to be a smart move. Hawaiian Punch,
with annual sales last year of US$133 million, will help them develop a strong relationship with younger
American customers, without competing head-on with the cola giants.
Cadbury is the world's third leading soft drink maker, commanding an approximately 15% share of the
U.S. market, behind Coke's 44% and Pepsi's 31% shares. Cadbury's other soft drink brands include:
A&W Root Beer, Sunkist, Schweppes, Squirt and Crush.
Reader's Comments
(Source: YOUR LINK HERE)
NIKE'S COLE HAAN SHOES MOVES OPERATIONS ABROAD
LIVERMORE FALLS, Maine USA -- Cole Haan shoes, a subsidiary of Nike brand,
has decided to close its last manufacturing facility in Maine, which accounts for 11% of its worldwide
production. This 9-year-old Livermore Falls, Maine plant accounts for the production of nearly 250,000 pairs of
Cole Haan shoes annually, selling for about US$225 a pair. Due to escalating local costs, Cole Haan,
like many other leading Maine-based shoe companies have had to move operations abroad. In October,
Cole Haan will be relocating their facilities to Italy, Brazil and Mexico.
Today, more than 90% of all shoes sold in the US are manufactured in other countries.
Cole Haan will, however, continue to maintain its headquarters in Yarmouth, Maine where it
employs 210 people.
(Source: YOUR LINK HERE)
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EGYPT TO HALT WIDENING TRADE DEFICIT
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GENETICALLY MODIFIED FOODS REMOVED FROM BRITAIN'S SHELVES
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CAIRO, Egypt -- In a recent address, Egypt's President Mubarak reported a widening 1998-99
trade deficit of US$12.36 bil, up from US$6.3 bil in 1991-92, when the policy of economic liberalization
began in Egypt . Mubarak is urging union leaders to close this trade gap immediately and reduce imports, while
increasing exports. Even crude exports were down by 32% in value last year (from US$1.72bil in fiscal
1997-98), due to low international oil prices. And the import of agricultural products accounted for nearly
25% of imports, including the import of canned fava beans, a staple in the Egyptian diet, which are grown domestically.
We can expect to see stringent measures implemented in the coming months.
(Source: YOUR LINK HERE)
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LONDON, UK -- In a country where consumer confidence is low with regard to genetically-modified (GM)
ingredients in foods, Nestle has just decided to remove such genetically modified foods from Britain's shelves.
Unilever also recently announced a similar move. The country's four biggest supermarket chains: Tesco,
Sainsbury's, Asda and Safeways have already removed nearly all products
containing GM substances, including engineered produce, from their shelves due to consumers' backlash. Products
that were not feasible to remove have been properly labeled to reveal ingredient sources.
A Tesco survey revealed that 25% of shoppers wanted GM material removed from its shelves.
Reader's Comments
(Source: YOUR LINK HERE)
NOTE: Reprints, downloads or copies of this issue are available for US$5.00 per copy,
payable on the honor system to PANGAEA.
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VIRGIN COLA LAUNCHES IN JAPAN
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COCA COLA REINFORCES COMMITMENT TO THE PHILIPPINES |
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TOKYO, Japan -- Britain's Branson -- Virgin Cola -- breaks into Japan's US$25.4 bil
soft drink market. Dominant market positions are presently held by Coca Cola (85% share) and
Pepsi Cola (13%). Branson's introduction of its Virgin beverage was made possible through a
joint effort, together with Japan's Pokka Co., a canned coffee maker. While distribution can be difficult
for a foreign entry in the Japanese market, this joint effort makes it possible to distribute Virgin through
convenience stores and Pokka's own vending machines.
Virgin's goal is to become Japan's number two soft drink brand within the next
few years. Launched March '99, Virgin plans to spend over 5 billion yen each year promoting the brand
in Japan.
(Source: YOUR LINK HERE)
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MANILA, the Philippines -- At a time when many multinationals in the Philippines have been
downsizing local operations or closing and relocating plants outside of the country due to the country's
weak infrastructure, Coca Cola reinforces its commitment to the Philippine market. Coke has been selling
its soft drink brand there for nearly 100 years and continues to show its commitment to being a part of the
country's economic growth. Coke's US headquarters has invested more than US$400 million in the last
three years in the Philippines market.
(Source: YOUR LINK HERE)
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LAST MINUTE TRAVEL BARGAINS -- Special Discounted
Fares
American Airlines' Net SAAver and Net SAAver International offers last minute travel
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International flight departures leave on Thursday or Friday, May 27 - 28, 1999*
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You can also read the latest news about
Travel & Tourism.
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