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Sep 03, 2008 -- NutriPure Beverages, Inc. (PINKSHEETS: NUBV | Quote | Chart | News | PowerRating) has signed a letter of intent to acquire controlling interest of Jayger International, Ltd. Under the terms of the agreement, Jayger will become a subsidiary of NutriPure and management of both companies will remain intact. This announcement comes on the heels of NutriPure's recent acquisitions of wholly-owned subsidiaries XND Technologies, Inc. and Inka Grill Franchising Systems. Jayger International is an import/export company recently organized by two 30+ year veterans of the industry with strong relationships in Asia, especially Japan, South Korea, Taiwan, Okinawa and Thailand. Jayger is a fully functional trading company that handles and arranges all aspects of import/export including product development and sourcing, quality control, packaging and labeling, shipping and receiving, customs and regulation, and warehousing/distribution. NutriPure's CEO Kenyatto Jones commented, "Jayger International is an ideal fit for NutriPure, giving us international reach and providing a strong gateway to Japan, both for Jayger's own portfolio of products and for those being developed by XND and Inka Grill. Jayger already has strong relationships and agreements in place and is poised to initiate operations very quickly."
Sep 03, 2008 -- The Coca-Cola Co. (NYSE: KO), the world's biggest beverage company, moved to expand its operations in the fast-growing Chinese market Wednesday with a $2.5 billion bid for major juicemaker China Huiyuan Juice Group Ltd. Under the deal, Coca-Cola's wholly-owned subsidiary Atlantic Industries would purchase the Chinese company's shares for 12.20 Hong Kong dollars ($1.56) each, almost triple their last closing price, the companies said in a joint statement to the Hong Kong stock exchange. That would value the Beijing-based juice producer at around HK$17.9 billion ($2.3 billion). Coca-Cola also offered to pay for all outstanding convertible bonds and options, bringing the total amount of the deal to as much as HK$19.6 billion (around $2.51 billion). According to research firm Dealogic, it is the largest-ever deal in China's food and beverage industry. If approved by regulators, the acquisition would mark Coca-Cola's biggest in China since it began operating in the country in 1979 and increase its share in the beverage market. Huiyuan is China's leading maker of pure fruit juices and nectars with about 31 production facilities. "This acquisition will deliver value to our shareholders and provide a unique opportunity to strengthen our business in China," Coca-Cola CEO Muhtar Kent said.
Sep 03, 2008 -- Diageo (NYSE: DEO), the world's leading spirits, beer and wine company, donated and delivered two high-powered generators and truck loads of Diageo bottled water to Baton Rouge and Abbeville, Louisiana. The two cities were hit hard by Hurricane Gustav and declared top priority sites by Governor Bobby Jindal's office. The generators and water are part of Diageo's Spirit of the Americas Humanitarian Aid program. "The generator that was delivered by Diageo proved to the difference, literally, between life and death for many of our patients," said Patrick Rambin, the Nursing Home Administrator at Capitol House Rehabilitation and Nursing. "Once the generator was installed, our oxygen systems were fully functional and we were able to keep the patients on the premises while preserving their quality of life. Our staff and our patients are truly grateful for the support and the generator Diageo provided." Ivan Menezes, Diageo North America's President and CEO said, "Diageo has been in constant touch with Governor Jindal's office to determine the areas with the most critical need for generators and potable water. We will continue to work closely with the Governor's office to ensure these resources are meeting the needs of the victims of Hurricane Gustav." In addition to these generators, Diageo also facilitated the delivery of desperately needed bottled water to an emergency distribution center established by Governor Jindal's office at the Capitol Building in Baton Rouge. From there, relief workers and officials distributed the water a high priority neighborhood whose residents were stranded without clean drinking water and power. All told, crews brought more than 176,000 gallons of water to the area, all of which was warehoused and distributed by Georgia Crown Distributing. Don Leebern, President of Georgia Crown Distributing, and his team have been instrumental in getting the bottled water to this key location.
Sep 03, 2008 -- Consumers are becoming more label conscious, and according to recent research, more than half of those surveyed said they are reading the information because they're curious about what's in their food.1 This fall, Campbell Soup Company (NYSE:CPB) is launching Campbell's Select Harvest soups that are made from only ingredients people can readily recognize, and the label is designed to cleanly and simply identify exactly what is and is not in each soup. "The new Select Harvest line is an important step in the company's journey in offering delicious soups made from high-quality ingredients that are familiar and desirable to families who enjoy our soups," said Colin Watts, General Manager, Campbell Soup Company. "These new soups also demonstrate our continued commitment to reducing sodium, with each of the 44 soups meeting the government's healthy sodium guidelines. You can expect more in the way of cleaner, simpler labels and lower sodium products." Select Harvest soups are made from real, high-quality ingredients, including 100% natural white meat chicken, pasta made with whole grains and all natural chicken stock. Plus, Campbell has added a unique, lower sodium natural sea salt, which enables each Campbell's Select Harvest soup to meet the "healthy" sodium level of 480mg per serving while still delivering great taste. For ingredients that may be unfamiliar to people, Campbell has clearly explained what the ingredient is on the label. For example, maltodextrin, which is a carbohydrate made from potato or corn starch, is called out and defined next to the overall ingredient list. Equally important to the ingredients Campbell put in Campbell's Select Harvest soups, is what Campbell left out. None of the soups contain MSG2 , high fructose corn syrup, hydrogenated oils or artificial flavors. "Soup is the ideal, healthful start to a balanced meal, and Campbell's Select Harvest offers people a great-tasting soup that they can feel great about eating," said Watts.
Market Wrap for September 3rd, 2008
Wednesday marked a choppy session for Wall Street, with the major indices settling in mixed fashion following a late-session recovery effort. The trading action came as traders digested volatile crude prices, a better-than-expected manufacturing reading and the Fed's Beige Book. In the end, the Dow rose 0.1%, while the S&P 500 and Nasdaq fell 0.2% and 0.7%, respectively. The Nasdaq's underperformance was largely due to some warnings out of the tech sector. The tech sector fell 1.7%. Shares of Corning (GLW 17.04, -2.46) were pummeled after the company issued a third quarter earnings warning due to lower-than-expected LCD glass shipments. The company cited an industry inventory glut. Semiconductor stocks fell 4.2%, after Corning's outlook raised demand concerns about LCD TVs, monitors and notebook computers. In addition, several semiconductor companies presented at the Citigroup Global Tech Conference. Financials (+1.4%) were an area of strength. Bond insurer Ambac Financial (ABK 8.61, +1.54) confirmed that it received regulatory approval from the Commissioner of Insurance of the State of Wisconsin to capitalize and restart Connie Lee Insurance, which will provide insurance for the municipal bond market. Lehman Brothers (LEH 16.85, +0.72) was once again in focus, with continued speculation that the struggling bank will be taken over or receive a capital infusion. The consumer discretionary (+0.5%) sector outperformed, benefiting from a 1.6% rise in retail stocks. Staples (SPLS 25.17, +0.40) reported a 16% year-over-year drop in its second quarter earnings per share, which matched Wall Street's forecast. Meanwhile, shares of General Motors (GM 11.36, +0.71) rose 6.7% after the automaker posted a smaller-than-expected decline in August sales. In other corporate news, Coca-Cola (KO 51.67, -0.29) is buying a Chinese juice company in a deal valued at roughly $2.4 billion. In economic news, factory orders remain surprisingly strong, with the fifth straight month of positive growth. July factory orders rose 1.3% (consensus +1.0%). Excluding transportation, orders rose 1.0%. In addition, unfilled orders were up 0.7%, marking the 29th increase in the last 30 months, and indicating that manufacturing sector will remain busy. Orders in June were revised higher to 2.1% from 1.7%. The Fed's Beige Book -- a collection of anecdotal economic reports from the 12 Federal Reserve districts -- showed an economic slowdown in most districts. At the same time, most districts continued to report price pressures due to the elevated costs of energy, food and other commodities. Wage pricing pressures were moderate, as the sluggish economic environment has allowed businesses to limit their salary increases. Crude oil prices traded in a volatile manner, falling as much as 2.3% before recovering to settle the day with a 0.3% loss at $109.42 per barrel. Commodities as a whole fell 0.5%.
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