Japanese brewer Kirin yesterday announced that it had opened
"preliminary discussions" with rival San Miguel over the
possibility of acquiring a stake in its Australian dairy and soft
drink subsidiary National foods.
San Miguel's chief executive reassured investors on Tuesday by
outlining its plans to concentrate on growing sales and sustaining
profits over the coming years.
San Miguel, the biggest food and drink company in the Philippines,
reported a 4 per cent drop in first half profits yesterday, after
higher raw material and packaging costs eroded the benefits of
strong sales growth.
New Zealand dairy co-operative Fonterra announced today that it has
pulled out of the three month bidding war to buy National Foods,
crowning San Miguel the new owner of Australia's largest publicly
traded dairy company, Tom...
San Miguel, the Philippines food and beverage group, has trumped a
rival bid from Fonterra, the world's biggest dairy exporter, to buy
Australia's National Foods, Tom Armitage reports.
Asian drinks conglomerate San Miguel has acquired a majority stake
in King's Creameries, a Singapore-registered ice cream producer -
but with new debt already financing its current expansion strategy
and a €1.07 billion bid to...
Fonterra, the New Zealand dairy co-operative, has extended its
share offer to buy Australian food group National Foods to 8 March
- despite National Foods' board urging its shareholders to back a
rival offer from Philippines-based...
San Miguel, the Philippines-based packaging and food giant, upped
bidding stakes for Australia's National Foods yesterday. The move
falls in line with the company's policy to expand its presence in
other global markets.
San Miguel Corporation has relaunched the Magnolia ice cream brand
in the Philippines after a five year absence from the market. The
move is seen as part of a bid to fend off stagnant food sales in
the domestic market. Simon Pitman.
