C12 Beverage and Tobacco Product Manufacturing

TWE ready for China reopening

roymorgansocial Leave a comment

Original article by Eli Greenblat
The Australian – Page: 15 : 24-Oct-23

China was Treasury Wine Estate’s biggest source of profit growth prior to the imposition of punitive tariffs on Australian imports in 2020. Treasury Wine Estates has advised that it is well-placed to rebuild this business if the Chinese government winds back its trade sanctions following its proposed review of the tariff on Australian wines. Treasury has indicated that it will allocate more of its flagship Penfolds brand to the Chinese market if the tariffs are removed, given that the brand had been highly popular with Chinese consumers.

CORPORATES
TREASURY WINE ESTATES LIMITED – ASX TWE

Exposed: big tobacco’s links to vape research

roymorgansocial Leave a comment

Original article by Remy Varga
The Australian – Page: 1 & 6 : 1-Feb-23

The Foundation for a Smoke Free World was launched in 2017; it has financed more than 70 academic papers on topics such as e-cigarettes, heated tobacco products and rates of smoking cessation over the last five years. Some of this research has produced positive findings about e-cigarettes and vaping, and many of the research papers have been cited by other researchers hundreds of times. However, some of this research does not disclose that the foundation is solely funded by tobacco giant Philip Morris, which revealed plans to expand into e-cigarettes in 2013. A spokeswoman has indicated that the foundation operate independently of Philip Morris.

CORPORATES
FOUNDATION FOR A SMOKE FREE WORLD, PHILIP MORRIS INTERNATIONAL INCORPORATED

Binding deed puts Amatil a step closer to European takeover

roymorgansocial Leave a comment

Original article by Sue Mitchell
The Australian Financial Review – Page: 29 : 5-Nov-20

Coca-Cola European Partners has completed due diligence on Coca-Cola Amatil and entered into a binding scheme implementation deed with the Australian-listed company. The proposed $9bn takeover requires the support of at least 75 per cent of CCA shareholders and approval from the Foreign Investment Review Board. Shareholders are likely to vote on the scheme of arrangement in March. Some of CCA’s institutional shareholders consider the cash offer of $12.75 per share to be opportunistic.

CORPORATES
COCA-COLA AMATIL LIMITED – ASX CCL, COCA-COLA EUROPEAN PARTNERS PLC, AUSTRALIA. FOREIGN INVESTMENT REVIEW BOARD

Amatil chiefs back $9.3bn takeover bid

roymorgansocial Leave a comment

Original article by Eli Greenblat
The Australian – Page: 13 & 16 : 27-Oct-20

Shares in Coca-Cola Amatil closed 16.28 per cent higher at $12.50 on 26 October, after its independent directors endorsed a takeover proposal from Coca-Cola European Partners. The cash offer of $12.75 per share also has the support of CC Amatil’s chair Ilana Atlas and CEO Alison Watkins, as well as 30.4 per cent shareholder The Coca-Cola Company. Atlas says the board decided to recommend the $9.3bn bid after assessing the company’s earnings outlook.

CORPORATES
COCA-COLA AMATIL LIMITED – ASX CCL, COCA-COLA EUROPEAN PARTNERS, THE COCA-COLA COMPANY

CC Amatil and Coke Europe in merger talks

roymorgansocial Leave a comment

Original article by Sue Mitchell
The Australian Financial Review – Page: 14 & 20 : 26-Oct-20

Shares in Coca-Cola Amatil were placed in a trading halt on 23 October, pending an announcement on a "potential material transaction". Bloomberg has reported that the beverages group is in advanced talks with Coca-Cola European Partners regarding a takeover proposal that could be worth around $10bn. The Coca-Cola Company has a 30.4 per cent stake in CCA and a 19.3 per cent stake in CCEP, positioning it to play a key role in any deal that emerges. A takeover of Australia’s largest non-alcoholic beverage would most likely need to be approved by the Foreign Investment Review Board.

CORPORATES
COCA-COLA AMATIL LIMITED – ASX CCL, COCA-COLA EUROPEAN PARTNERS, THE COCA-COLA COMPANY, BLOOMBERG LP, AUSTRALIA. FOREIGN INVESTMENT REVIEW BOARD

Wineries count cost of smoke on premium grapes

roymorgansocial Leave a comment

Original article by Simon Evans
The Australian Financial Review – Page: 16 : 14-Jul-20

Tyrrell’s Wines stated in late January that it might not be able to use 80 per cent of its grape crop because of smoke taint from the summer bushfires. However, MD Bruce Tyrrell says it ended up not being able to make wine from 85 per cent of its crop, with most of the grapes it could not use being consumed by cattle. He says the problem of smoke taint from bushfires is something the wine industry is likely to have to deal with again some time in the next 10 years. Cassegrain Wines, which had its grape intake cut by 70 per cent because of smoke taint, will be part of a three-year research project that will look at new ways of dealing with grapes exposed to smoke.

CORPORATES
TYRRELL’S VINEYARDS PTY LTD, CASSEGRAIN VINEYARDS

Packaged beer the new normal for big brewers

roymorgansocial Leave a comment

Original article by Eli Greenblat
The Australian – Page: 17 : 31-Mar-20

Australian brewers have responded to the coronavirus-induced closure of the nation’s pubs by shifting their focus to producing beer in cans and bottles rather than kegs. Coopers Brewery’s MD Tim Cooper says kegs usually account for about 15 per cent of the family-owned firm’s volumes, but it is currently not producing any keg beer. He adds that Coopers’ sales in March have been 30 per cent higher than expected as consumers flock to liquor stores. Carlton & United Breweries and Lion are also focusing on the packaged beer market.

CORPORATES
COOPERS BREWERY LIMITED, CARLTON AND UNITED BREWERIES, LION PTY LTD

Coopers breached covenants, but it’s only small beer

roymorgansocial Leave a comment

Original article by Eli Greenblat
The Australian – Page: 13 & 14 : 23-Dec-19

Coopers Brewery’s 2019 financial report shows that shareholders received a total of $13.789m in dividend payments during the last year. Coopers has also disclosed that its banking covenants were breached in June, although the brewer obtained a waiver from its lender. Meanwhile, Coopers’ net profit fell by 31 per cent in 2019, to $16.4m. Coopers is the largest Australian-owned brewer, and the Coopers family comprises the bulk of its shareholders.

CORPORATES
COOPERS BREWERY LIMITED, CARLTON AND UNITED BREWERIES, ASAHI BREWERIES LIMITED, ANHEUSER-BUSCH INBEV SA/NV, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, LION PTY LTD

Penfolds loss in China counterfeit wrangle

roymorgansocial Leave a comment

Original article by Eli Greenblat
The Australian – Page: 19 : 9-Dec-19

The Beijing High Court has overturned a previous decision by a Beijing intellectual product court. The latter had thrown out a trade mark used by winery Rush Rich, with its labelling similar that used by Treasury Wine Estates’ Penfolds brand. Treasury Wine Estates has been trying to get the ‘copycat’ Rush Rich label outlawed by the Chinese courts for two years, while it prosecuted an intellectual property case against Rush Rich earlier in 2019 and was awarded $375,302 in compensation.

CORPORATES
TREASURY WINE ESTATES LIMITED – ASX TWE, PENFOLDS WINES PTY LTD, RUSH RICH, HIGH COURT OF BEIJING

Lion to go to next level green in beer brewing

roymorgansocial Leave a comment

Original article by Elouise Fowler
The Australian Financial Review – Page: 32 : 15-Nov-19

Australian brewer Lion has announced that it intends to become carbon neutral by 2020. Lion’s current efforts in this area include solar panels on its Geelong and Brisbane breweries, while the latter collects the biogas emitted from the beer fermentation process to use as fuel to power some of the plant’s steam boilers. Lion announced its carbon neutral target ahead of the 15 November launch of Climate Active, which is the re-branded name of the federal government’s carbon neutral certification project.

CORPORATES
LION PTY LTD