Brand New: Coca-Cola, San Miguel and Nestle developments in our big-name brand round-up
Not for kids? Coke's cola-coffee combo for adults in line with 20% sugar-reduction target
Coca-Cola Australia has emphasised that its latest release, the coffee-cola combination Batch Blends, is designed for the 'adult palate', and is fully in line with its sugar reduction health targets.
The company further emphasised that there is zero sugar content in the new product, and that the artificial sweeteners used are safe for consumption.
“In Australia, we have joined with other beverage companies to commit to reducing sugar across our portfolios by 20% by 2025,” said a spokesman for Coca-Cola South Pacific to FoodNavigator-Asia.
Still a ‘go’: San Miguel vows to press ahead with IPO despite valuation slash
The boss of San Miguel Food and Beverage (SFMB) has vowed that the firms planned IPO will go ahead, despite its value being slashed by roughly 50% to US$920mn (PHP 49.4bn) as a result of weak market conditions.
This number does not include and an overallotment option, which could go up to 15% of the offering.
According to a regulatory filing to the Philippine Stock Exchange (PSE) last week, San Miguel looks to sell 523 million shares at 85 pesos (US$1.58) to 95 (US$1.77) pesos per share.
Previously, the share price was estimated at 140 pesos (US$2.61) per share.
Nestlé Zone Asia CEO steps down after firm posts nine-month sales growth
Nestlé Zone Asia, Oceania and Sub-Saharan Africa (AOA) CEO, Wan Ling Martello, will leave the KitKat maker as well as its group executive board by the end of 2018.
Martello first joined the company as chief financial officer in 2011, and she was appointed as CEO of Zone AOA in 2015, according to Nestlé.
‘Under her leadership, Zone AOA became the most profitable and fastest growing business within the Nestlé group,’ it said. ‘Martello’s passion for digital transformation and her thorough understanding of the new retail economy gave a positive impetus to the whole company.’
Dipping into dips: Nestle India enters new segment amid price hike considerations
Nestle India has taken a dip into the gourmet dip and spread segment with its latest product offering, Maggi Dip & Spread. This comes amidst the company’s mulling of ‘some price increase’ in ‘some categories’.
The new Maggi Dip & Spread products have a low-fat yoghurt base, containing ‘almost 80% yogurt with less than 3% fat’.
Nestle India told FoodNavigator-Asia that as of now, these products have only been launched in Delhi as “we are following a phase-wise launch approach”. Two flavours formulated for local Indian tastes are available: Cheese Garlic and Jalapeno Salsa.
“Yoghurt based low fat MAGGI Dip & Spread is an entirely new category for us which will offer […] a whole new experience,” said Arvind Bhandari, Nestle India General Manager, Dairy.