The lack of basic infrastructure in Africa is hampering investments by companies such as SABMiller Plc and Bharti Airtel Ltd, said their chairmen. “Heroic endeavors” are often required in remote parts of Africa to move products to markets or across borders, SABMiller’s Graham Mackay, who is also chief executive officer, said today at a panel discussing risks on the continent at the World Economic Forum in Davos, Switzerland. “On balance, the infrastructure deficit is widening rather than narrowing.” (Bloomberg)
Coca-Cola FEMSA, S.A.B. de C.V. he largest franchise bottler of Coca-Cola products in the world, has finalized the acquisition of 51 percent of Coca-Cola Bottlers Philippines, Inc. (CCBPI) from The Coca-Cola Company for an amount of US$688.5 million in an all-cash transaction. The closing of this transaction is effective on Jan. 25, 2013. This purchase price represents an aggregate enterprise value for 100 percent of the bottler of US$1.35 billion. As part of the agreement, Coca-Cola FEMSA will have an option to acquire the remaining 49 percent of CCBPI at any time during the seven years following the closing and will have a put option to sell its ownership to The Coca-Cola Company any time during year six.
Restaurant and bar patrons cheaped out last year, swapping expensive bottles of wine for more affordable single glasses, ditching entrees for appetizers and sides and even passing on dessert. Though consumer spending is ticking up, the unstable economy and high food prices have kept diners wary of hefty checks. (Los Angeles Times)
Now under the direction of the New York City Brewers Guild, the 5th Annual New York City Beer Week (February 22 - March 3, 2013) will bring together 12 NYC craft breweries, nationally and internationally renowned breweries, tons of beloved NYC beer destinations, celebrity chefs, and acclaimed restaurants for the premier craft beer spectacle of the year. Celebrated events such as NYC Brewer's Choice 2013, The 2nd Annual aPORKalypse Now Fest, and The 7th Annual Williamsburg Cask Beer Festival will return as part of this year's Beer Week. The week also features brand new boutique craft beer events, celebrity chef food & beer pairing dinner menus, educational tours, and ambitious tap takeovers from NYC Guild Brewers and beyond. Three signature Beer Week events include: Opening Night Bash at Galapagos Art Space, Feb. 22; NYC Brewers Choice 2013 at City Winery, Feb. 27; and the Closing Party at La Birreria at Eataly, Mar. 3.
Pepsi announced today that it has again partnered with Youku Tudou Inc., China’s leading internet television company, on a multi-faceted web movie campaign called “Bring Love Home.” The 30-minute web movie premiered yesterday simultaneously on Youku.com, Tudou.com, and in a Beijing theater packed with Pepsi celebrities. (Digital Media Wire)