OVER 40 MORE ACQUISITIONS IN MARCH AND APRIL

Consolidation continues apace around the globe and across all food and drink sectors. In the past two months, I’ve noted 42 transactions excluding Pepsi bottler deals. 12 were in dairy, 11 were in alcohol of which 9 were beer, 10 were in soft drinks including 3 water and 2 juice, 3 were in hot drinks. Japanese brewers were buying again, along with Coca Cola, Dean Foods, Emmi and SABMiller, while Anheuser-Busch InBev and Fonterra mainly divested, though there was traffic in both directions for some. There seems to be no shortage of intent or activity whatever the market conditions.

Feb 09	Dairy		Lactalis Nestlé buys production plant from Nestlé Spain
Mar 09	Dairy		China’s Beijing Sanyuan buys Sanlu		$90m
	Flavours		Frutarom from Israel to buy American Company Flavors Specialties in US		$17m
	Sugar		Nordzucker of Germany completes purchase of Danisco Sugar based in Denmark		DKK6.8 billion
	Coffee		US Farmer Bros buys foodservice business from Sara Lee		$45m
	Water		Turkey’s Coca-Cola Icecek completes purchase of Sandras		€13m
	Dairy		Arla from Sweden to buy Friesland Foods Fresh Nijkerk in Netherlands from Royal FrieslandCampina		€215m sales in 2007
	Beer		SABMiller and China Resources Enterprise to buy Shandong Hupo Brewery in China		$42m
	Soft drinks		US Coca-Cola Bottling Co Consolidated buys Bazza high-Energy Tea trademark from Cooper Tea
	Beer		US KPS Capital Partners completes purchase of Labatt USA from Anheuser-Busch InBev
	Food		US Heathrow to buy Natural Harmony Foods
	Food		Ireland’s Kerry to buy Breeo Foods		€140m
	Beer		SABMiller and Vietnam Dairy Products to buy 50% of SABMiller Vietnam JV from Vinamilk of Vietnam		$32m
	Dairy		France’s Coralis buys UHT milk business from Bongrain
	Juice		Canada’s Lassonde to buy Apple Valley from Dominion Citrus
	Iced tea		US Nestlé Waters invests in Sweet Leaf Tea		$16m
	Hot drinks		Tata Tea from India and EBRD to buy 51% of Grand in Russia
	Dairy		Yoplait from France buys remaining 49% of joint venture with UK Dairy Crest		£63.5m
	Soft drinks		Anheuser-Busch InBev buys Bebidas in Bolivia from SABMiller		$27m
	Dairy		Warrnambool from Australia to buy 50% of new Australian Cheese Company in joint venture with National Foods		A$105m
Apr 09	Soft drinks		Asahi from Japan completes purchase of Schweppes Australia from Cadbury		A$1185m
	Juice		Coca-Cola buys up to 20% of UK Innocent		£30m
	Water		US Vermont Pure buys Blue Hills
	Beer		Carlsberg from Denmark forms Nordic JV with Nordmann of Germany		€400m sales
	Tea		Tata Tea from India integrates Premium Foods in Poland
	Dairy		US Dean Foods buys two plants from Foremost Farms
	Spirits		Campari from Italy buys Wild Turkey in US		$575m
	Dairy		Emmi from Switzerland increases stake in Kaiku of Spain from 23% to 43%
	Dairy		Switzerland’s Emmi to buy 60% of Nutrifrais from LRG
	Dairy		US Dean Foods to buy Santee from Stater Bros
	Bakery		India’s Wadia to buy remaining 25% of Britannia from Danone
	Water		Russia’s IDS Group to buy Saint Springs from Nestlé Waters
	Snacks		PepsiCo buys Karinto in Peru
	Beer		Carlsberg of Denmark to sell Arendal in Norway
	Soft drinks		US PepsiCo seeks to buy remaining 67% of Pepsi Bottling Group and 57% of PepsiAmericas		$6bn
	Beer		Carlsberg from Denmark increases stake in Wusu of China to 63%
	Beer		Kirin from Japan to buy remaining 54% of Lion Nathan in Australia		A$3.5bn
	Beer		Kirin from Japan increases stake in San Miguel of Philippines from 43% to 48%		$142m
	Alcohol		CEDC from Poland to buy increasing stake in Russian Alcohol from Lion Capital		$532m
	Beer		KKR from US to buy Oriental Brewery in South Korea from Anheuser-Busch InBev
	Dairy		New Zealand’s Britannia to buy remaining 49% of joint venture with Fonterra
	Dairy		Nestlé and Australia’s Bulla to buy ice cream business from Fonterra