This week in FMCG
Supermarket giant Coles has released bulk sizes for 25 best selling products, offering per unit prices up to 63 per cent off standard sizes. Greg Davis, Coles COO said the supermarket giant listened to shoppers looking “for value when stocking up on pantry staples.” Barilla, Panko Breadcrumbs San Remo, Kewpie and Froot Loops are some of brands that will be sold in bulk sizes at Coles.
Plant-based burger maker Impossible Foods has raised US$300 million funding ahead of a public offering for its popular Beyond Burger. The Silicon Valley-based start-up’s total funds is now at US$750 million. Impossible Foods CFO David Lee told Reuters that the start-up is ready to go public but isn’t in a rush or filing an IPO. Currently it’s in talks with major supermarket giants in the US. Whole Foods is already carrying the Beyond Meat range in the US. Will.i.am, Jaden Smith, Bill Gates and Google Ventures are supporting the Beyond Burger.
Coca-Cola Amatil (CCA) managing director Alison Watkins has revealed the soft drinks giant is set for another “transition” year. CCA will not meet its target for mid single digit earnings per share growth due to heavy investment in the domestic market aimed at reversing a long term decline in volumes. In 2018, CCA was marked by the first half of the two-year transition program. Its revenue was impacted by investment in its Australian and Indonesian businesses; the implementation of container deposit schemes as well as economic and operational challenges in overseas markets. Watkins sees growth for the Australian beverages in 2020. CCA will complete the A$10 million investment in its Accelerated Australian Growth Plan and the Container Deposit Schemes in NSW and Queensland by the end of 2019.
Australian liquor giant Treasury Wine Estates (TWE) has celebrated 175 years in the country this year with the launch of the limited edition 2012 Chardonnay Pinot Noir Cuvée in June. TWE collaborated with another wine company Champagne House Thiénot. It will be the first to be released in a range of wines by Penfolds parent company. Peter Gago, Penfolds chief winemaker said the “2012 Blanc de Noirs and 2012 Blanc de Blancs, play their role in this trio’s inaugural release, this cuvée synergistically creates its own stage, commanding its own space. Penfolds dates back to 1844. Its parent company TWE has the well-known wine brands Wolf Blass, Wynns and Rawsons Retreat under its belt that are internationally known.
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