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Since then, Unilever has worked to make Elida an autonomous unit that could also appeal in its entirety to private equity firms, the sources added. Morgan Stanley and Evercore have now contacted several parties to gauge acquisition interest in Elida for what could be a multi-billion-dollar deal, according to the sources. Unilever, Morgan Stanley and Evercore declined to comment. This has prompted Unilever, the maker of Dove soap and Ben & Jerry's ice cream, to review its portfolio of non-core assets it can sell to raise cash. Unilever beat underlying sales growth forecasts in the second quarter after raising prices to offset the higher costs.

Persons: Morgan Stanley, Hein Schumacher, Ives, Moussel, Alberto Balsam, Evercore, Abigail Summerville, Richa Naidu, Chizu Organizations: Unilever Plc, Evercore Inc, Unilever, Credit Suisse, Elida, Breyers, Thomson Locations: St, Zwitsal, Elida, Klondike, New York, London

Reuters GraphicsReuters spoke to four shareholders that have launched activist campaigns who said that some big consumer goods companies are ripe for executive changes after failing to impress. Reuters GraphicsMany large consumer goods companies generally hold low levels of debt and are cash generative, said André Medeiros, managing director and Alvarez & Marsal's EMEA consumer and retail leader. 'ADVOCATING FOR MANAGEMENT CHANGE'Gianluca Ferrari, founding partner of investor Clearway Capital, said his firm had some consumer companies on its radar but declined to name them. He did not identify specific executives nor disclose the nature of his work with consumer companies. In October, Reuters reported that Peltz had approached former CEOs of consumer goods companies as candidates for the Unilever top job.

Persons: Danone's, Emmanuel Faber, David Samra, Samra, Alvarez, Marsal, André Medeiros, Nelson Peltz, Artisan's Samra, We're, Peltz, Heinz, Gianluca Ferrari, Ferrari, Clearway, Glanbia, Faber, Bluebell, Nicolas Ceron, Ceron, underperformance, Kraft Heinz, KHC.O, Andrew Hayes, Russell Reynolds, John Long, Korn, Long, Alan Jope departure's, Unilever's, Graeme Pitkethly, Hein Schumacher, Heinz's, Bill Johnson, Nelson, Richa Naidu, Matt Scuffham, Daniel Flynn Organizations: Artisan Partners, Reuters, Danone, Evian, Unilever, Consumer Products, Reuters Graphics Reuters, Reuters Graphics, Marsal's EMEA, Billionaire, Artisan, Cadbury Schweppes, Heinz, Trian, Bluebell Capital, shareholders, Bluebell, Diageo, Russell Reynolds Associates, Thomson Locations: York, H.J, Frankfurt, Western Europe, North America

The logo of Russian technology giant Yandex is on display at the company's headquarters in Moscow, Russia December 9, 2022. Moscow already demands a 50% discount on all foreign deals after consultants selected by the Russian government have valued the business. But three people familiar with the exit process for foreign companies said that some deals are facing demands for additional discounts before the government gives a green light. Another person, who works on M&A transactions and with foreign companies, said deals exceeding $100 million were at particular risk of being denied. In its biannual financial stability review, the central bank said foreign companies under pressure to leave Russia were doing so on "unfavourable" terms.

Persons: Evgenia, Carlsberg's, Intesa, Vladimir Putin's, Suren Gortsunyan, Rybalkin, Gortsunyan, Alexey Kupriyanov, Elena Fabrichnaya, Alexander Marrow, Victor Goury, Josephine Mason, Jane Merriman Organizations: REUTERS, Reuters, Heineken, Arnest, Companies, Nasdaq, Russia, Dyakin, Partners, Aspring, Nato, Thomson Locations: Moscow, Russia, Ukraine, MOSCOW, Russian, London, Laffont, Gdansk

☆ Heineken exits Russia with one-euro sale of operations
▼ + stars: | 2023-08-25 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Piroschka van de Wouw/File Photo Acquire Licensing RightsBRUSSELS, Aug 25 (Reuters) - Dutch brewer Heineken (HEIN.AS) said on Friday it had completed its exit from Russia by selling its operations there to Russia's Arnest Group for a symbolic one euro. Heineken announced its intention to exit Russia in March 2022, after Russia's invasion of Ukraine, acknowledging that the process had taken longer than expected. Many multinational companies flocked to leave Russia after the West imposed unprecedented sanctions on Moscow, but the Kremlin has retaliated by seizing some assets. Heineken had seven breweries in Russia and 1,800 employees, who will receive employment guarantees for the next three years. The Dutch brewer removed its Heineken brand from Russia last year and production of Amstel is to be phased out within six months.

Persons: de, Dolf van den Brink, Vladimir Putin, Turkey's, Heineken, Philip Blenkinsop, Jane Merriman Organizations: Heineken, REUTERS, Rights, Arnest, Kremlin, Anheuser, Busch InBev, Arnest Group, Thomson Locations: Nijmegen, Netherlands, Dutch, Russia, Ukraine, Moscow, Russian, Amstel

☆ Europe Is Embarking on a Mining Renaissance. Winning Over Locals Is Proving a Challenge.
▼ + stars: | 2023-08-10 | by ( Yusuf Khan | ) www.wsj.com time to read: +12 min

“It’s definitely a [mining] renaissance,” said Rebecca Campbell, global mining and metals lead at law firm White & Case. “We’re trying to foster a permitting landscape that is both efficient and responsible.”In Europe, the mining renaissance comes after years of nearly no new mining activity on the continent. Left: A layer of spodumene within the host rock that Savannah Resources intends to mine. Savannah Resources, which has set up two offices in the municipality, has said it would strictly avoid that and instead build reservoirs to store rain water. That view is echoed by Savannah Resources.

Persons: COVAS, Portugal —, Barroso, BEL, mina ”, ”, Nelson Gomes, Covas, Alex Gorman, “, Nelson, YUSUF KHAN, “ It’s, Rebecca Campbell, ” “, Jayni Hein, Hein, “ We’re, Peel Hunt’s Gorman, Dale Ferguson, Gomes, Jessica Polfjärd, Polfjärd, Ana Fontoura Gouveia, Fontoura, ” Fontoura, Yusuf Khan Organizations: COVAS DO BARROSO, Associação, Peel, Vulcan Energy Resources, Adriatic Metals, White, Covington, Burling, Environmental, Council, Savannah Resources, Sustainable Business, Sweden’s Moderate Party, Serra Locations: Portugal, Porto, Boticas, Covas, It’s, Europe, Germany, Sweden, Bosnia, Finland, Greece, U.S, Savannah, London, spodumene, Serbia, China, yusuf.khan

☆ Adidas and AB InBev influencer hangover may return
▼ + stars: | 2023-08-03 | by ( ) www.reuters.com time to read: +3 min

LONDON, Aug 3 (Reuters Breakingviews) - Adidas (ADSGn.DE) and Anheuser-Busch InBev (ABI.BR) are showing some unexpected resilience in the face of influencer trouble. Belgium beer producer AB InBev, meanwhile, grappled with a different influencer headache. The world's largest brewer experienced an April consumer boycott after picking transgender influencer Dylan Mulvaney to promote its popular Bud Light brew. And while AB InBev say 80% of its consumers still look favourably or are neutral on Bud Light, the brand was dethroned as the top selling U.S. beer in May. Still, Adidas trades at 10 times its forecast 2025 EBITDA, below its peer Nike's (NKE.N) 16 times, and AB InBev trails Heineken (HEIN.AS) by an even larger margin.

Persons: Kanye West, Ye, influencer Dylan Mulvaney, Bud Light, Karen Kwok, Lisa Jucca, Sharon Lam Organizations: Adidas, LONDON, Reuters, Anheuser, Busch InBev, InBev, Heineken, Twitter, Thomson Locations: Garden City , New York, U.S, Belgium, North America, Mexico

☆ Heineken’s pricing goof has a strategic spillover
▼ + stars: | 2023-07-31 | by ( ) www.reuters.com time to read: +2 min

LONDON, July 31 (Reuters Breakingviews) - Dolf van den Brink has had a six-month-long happy hour. Heineken’s misstep occurred even though the company increased prices for its beers by an average of 13% from a year earlier. While consumer goods groups like Unilever (ULVR.L) managed to hike without losing much business, Heineken’s 6% hit to beer sales in the first half suggests van den Brink has not. In Vietnam, which analysts at Bernstein estimate accounts for nearly half of that region’s sales, Heineken admitted its pricing was mistimed. Van den Brink seems confident the worst is over for 2023, because all his price hikes have already happened.

Persons: van den Brink, misstep, Bernstein, Van den Brink, Yawen Chen, ’, George Hay, Oliver Taslic Organizations: Reuters, Heineken, Unilever, Walmart, BT boss’s, of Japan, Thomson Locations: Vietnam, United States

☆ Why are so many Western firms staying put in Russia, despite the rising risks?
▼ + stars: | 2023-07-26 | by ( Hanna Ziady | ) edition.cnn.com time to read: +6 min

London CNN —When Russia launched its full-scale invasion of Ukraine in February 2022, a slew of Western companies left in protest. Companies now find themselves caught between Western sanctions and public outrage on the one hand, and an increasingly hostile Russian government on the other. The Kremlin is making it more difficult for Western firms to sell their Russian assets — and imposing steep discounts and punitive taxes when they do. Both companies had been finalizing sales to local buyers when President Vladimir Putin signed an order nationalizing their local assets earlier this month. Spurred by sweeping Western sanctions, oil companies, automakers, technology firms, consultancies and banks led the initial wave of departures.

Persons: —, Vladimir Putin, Carlsberg, Maria Shagina, Andrey Rudakov, Konstantin Zavrazhin, Hein Schumacher, Schumacher, ”, ” Procter, Gamble, ” Mondelez, Fortum Oyj, Jeffrey Sonnenfeld, ” Sonnenfeld, — Olesya Dmitracova Organizations: London CNN, Nestlé, Heineken, Companies, Danone, Carlsberg, Breweries, International Institute for Strategic Studies, CNN, Bloomberg, Getty, Yale University, Yale, Unilever, UL, Procter, Gamble, Treasury, Foreign, Control, Carlsberg — Locations: Russia, Ukraine, Lyubuchany, Rosneft, Moscow, Russian

☆ Unilever quarterly sales beat estimates, boost shares
▼ + stars: | 2023-07-25 | by ( ) www.reuters.com time to read: +4 min

REUTERS/Dado Ruvic/Illustration/File PhotoSummaryCompanies Underlying sales, price, volume growth beat forecastsPast peak cost inflation -finance chiefFocus is on volume growth -finance chiefShares jump 5%LONDON, July 25 (Reuters) - Unilever (ULVR.L) on Tuesday beat underlying sales growth forecasts after again raising prices to offset higher costs, boosting shares in the maker of Dove soap and Ben & Jerry's ice cream. The British company reported a 7.9% rise in underlying second-quarter sales, beating analysts' average forecast of 6.4%, a company-provided consensus showed. The company said it expects underlying sales growth for the full year to be above 5%, ahead of its multi-year range, with underlying price growth continuing to moderate through the year. Unilever said the percentage of its "business winning market share" had reduced to 41%. The metric assesses what percentage of the company's revenue is coming from areas in which it is gaining market share on a rolling 12-month basis.

Persons: Dado Ruvic, Hein Schumacher, Alan Jope, Jochen Kurz, Alan, Kurz, Graeme Pitkethly, Janus Henderson, Bernstein, Bruno Monteyne, Hein Schumacher’s, Richa Naidu, Jason Neely Organizations: REUTERS, Unilever, British, Kurz, Rivals, Nestle, Thomson Locations: Russia, Ukraine

☆ The world’s biggest ice cream company says heat waves may not help sales
▼ + stars: | 2023-07-25 | by ( Hanna Ziady | ) edition.cnn.com time to read: +2 min

London CNN —Can it ever be too hot for ice cream? “When it gets too hot, people move away from ice cream and buy a cold drink instead,” he said. The consumer goods giant commands a fifth of global ice cream sales, according to Euromonitor. The company’s overall ice cream sales grew 5.7% in the first half of the year in value terms, compared with the same period in 2022. Price rises across Unilever’s products helped push up its sales by 9.1% in the first half, even though volumes fell marginally.

Persons: Cornetto, ”, Graeme Pitkethly, Jerry’s, Carte d’Or, Hein Schumacher, Schumacher —, FrieslandCampina — Organizations: London CNN, Unilever, UL, Health Locations: Europe, Spain, Italy, Greece, Ukraine

Moscow's actions highlight the vulnerability of other consumer products companies that still have operations in Russia, some of which have announced plans to leave. "The second option is to sell the business, but the reality is, we have not found a viable solution that meets our stated objectives." The company, which owns the Knorr soup and Dove soap brands, employs over 3,000 people in Russia. In March 2022 Unilever became the first major European food company to stop imports into and exports out of Russia after the country's invasion of Ukraine. Former CEO Alan Jope said at the time "volumes in our Russian business are down significantly, by double digits".

Persons: Hein Schumacher, Schumacher, Knorr, Alan Jope, Richa Naidu, Jason Neely Organizations: Unilever, Danone, Carlsberg, Thomson Locations: Russia, Russian, Ukraine

☆ Royal Unibrew to buy Heineken's Vrumona
▼ + stars: | 2023-07-03 | by ( ) www.reuters.com time to read: 1 min

COPENHAGEN, July 3 (Reuters) - Danish brewer and beverage group Royal Unibrew (RBREW.CO) has agreed to buy soft drinks maker Vrumona from Heineken (HEIN.AS) for 300 million euros ($327 million), it said on Monday. Royal Unibrew said in a statement it expected to close the deal in September or October and it would finance it through committed extended financing facilities with existing banks. "Vrumona will become a new growth platform for Royal Unibrew in continental Europe and is expected to drive organic earnings growth in the coming years," CEO Lars Jensen said. Royal Unibrew expects the acquisition of Vrumona, which is located near Utrecht in the Netherlands, be earnings-per-share accretive in 2024, it said. ($1 = 0.9183 euros)Reporting by Louise Breusch Rasmussen, editing by Anna RingstromOur Standards: The Thomson Reuters Trust Principles.

Persons: Royal Unibrew, Lars Jensen, Louise Breusch Rasmussen, Anna Ringstrom Organizations: Heineken, Unibrew, Thomson Locations: COPENHAGEN, Danish, Europe, Utrecht, Netherlands

☆ Christian radio host Dave Ramsey faces $150 million lawsuit from listeners who say they were defrauded by a timeshare exit company he promoted
▼ + stars: | 2023-06-03 | by ( Ryan Hogg | ) www.businessinsider.com time to read: +3 min

Dave Ramsey faces a $150 million lawsuit from listeners over his promotion of a timeshare exit group. Lawyers say Ramsey was paid $30 million to promote Reed Hein over a period of six years. Christian radio host Dave Ramsey is facing a $150 million lawsuit from 17 listeners who claim he played a role in defrauding them by promoting a timeshare exit company. The suit said Ramsey was paid millions to advertise Timeshare Exit Team, operated by Kirkland, Washington-based Reed Hein & Associates. Ramsey promoted Reed Hein between 2015 and 2021, and only ceased when the company stopped paying him, according to the suit.

Persons: Dave Ramsey, Reed Hein, Ramsey, Bob Ferguson, it's, Reed Hein's, didn't Organizations: Morning, Ramsey, Hour Media, Washington Western, Court, Religion News Service, Reed Hein & Associates, Lawyers, Washington State, Happy Hour Media Group, Happy Hour Locations: Washington, Kirkland , Washington, Washington State

May 30 (Reuters) - Unilever Plc (ULVR.L) said on Tuesday Chief Financial Officer Graeme Pitkethly would leave the consumer goods giant by the end of May 2024 after more than two decades. Pitkethly, who has been with the maker of Dove soap since 2002, succeeded Jean-Marc Huët as finance chief in 2015. The 56-year-old previously served as executive vice president of Unilever's UK and Ireland business, including head of M&A and head of treasury. Unilever, which did not say why Pitkethly planned to "retire from the company", said it would proceed with a formal internal and external search for his successor. "Eight years as CFO of a multinational is a decent time and retiring in May 2024 should enable a useful handover to a new CFO."

☆ Cyclone Mocha: Myanmar junta travel restrictions are holding up vital aid to cyclone-hit communities
▼ + stars: | 2023-05-18 | by ( Helen Regan | ) edition.cnn.com time to read: +8 min

CNN —Myanmar’s military junta is holding up humanitarian access to some cyclone-hit communities in western Rakhine state after Cyclone Mocha devastated the lives and livelihoods of millions of people in the poorest parts of the country. Storm damage has hampered efforts to access rural and hard-to-reach areas while pre-existing travel restrictions imposed by the junta have delayed the delivery of vital aid to communities in urgent need. “It seems that many agencies haven’t even been able to conduct needs assessments, let alone deliver aid, because SAC (junta) officials have not granted travel authorization. This is extremely worrying.”A girl draws water from a pump at Basara refugee camp in Sittwe on May 16 in the aftermath of Cyclone Mocha. A Rohingya woman stands in her damaged house at Basara refugee camp in Sittwe on May 16 following Cyclone Mocha.

It is in these poorly constructed camps that aid agencies fear Cyclone Mocha has hit the hardest. A man walks past destroyed buildings in Sittwe, in Myanmar's Rakhine state, on May 15, 2023, after Cyclone Mocha made landfall. Residents ride motorcycles past broken utility poles in Sittwe, in Myanmar's Rakhine state, on May 15, 2023, after Cyclone Mocha made landfall. At one point Cyclone Mocha had been predicted to hit the camp but it was spared a direct hit with the storm making landfall further down the coast. According to the UN, roughly 15,000 homes were destroyed in Rakhine state during that storm.

☆ Heineken sees Europe resilience offsetting Asia slowdown risk
▼ + stars: | 2023-04-19 | by ( Philip Blenkinsop | ) www.reuters.com time to read: +2 min

The world's second-largest brewer expects its operating profit this year to increase by a mid- to high- single-digit percentage. "We see signals of a relatively resilient Europe and risks of slower economic growth in Asia Pacific, thus performance across markets may be different than anticipated," Heineken said. Overall beer volumes fell 3.0% in the first quarter, below the average expectation of a 1.9% decline in a company-compiled poll. In Nigeria, another large Heineken market, volumes fell sharply due to a transition to new bank notes that left many consumers short of cash. Heineken expected the situation to improve, with the validity of old notes now extended.

☆ Heineken beer sales fall on weak Vietnam, Nigeria drinking
▼ + stars: | 2023-04-19 | by ( ) www.reuters.com time to read: +1 min

BRUSSELS, April 19 (Reuters) - Heineken (HEIN.AS) reported a steeper than expected decline in first-quarter beer sales, with a sharp decline in major markets Nigeria and Vietnam, but maintained its forecast for profit growth in 2023. The world's second-largest brewer said on Wednesday that business in Europe and the Americas was encouraging, with consumer demand holding up better than expected. However, it described results in the Asia Pacific and the region comprising Africa, the Middle East and Africa as disappointing. The brewer - whose namesake brand is Europe's top-selling beer - said overall beer volumes fell by 3.0% in the January-March period, below the average expectation of a 1.9% decline in a company-compiled poll. The brewer still expects its operating profit this year to increase by a mid- to high- single-digit percentage.

☆ Carlsberg CEO’s big job is to keep glass steady
▼ + stars: | 2023-03-17 | by ( ) www.reuters.com time to read: +2 min

LONDON, March 17 (Reuters Breakingviews) - Carlsberg’s (CARLb.CO) new boss is unlikely to tinker with the company’s corporate recipe. The $21 billion Danish brewer on Thursday named Jacob Aarup-Andersen to replace outgoing Chief Executive Cees ’t Hart. A veteran from a rival brewer might have been better placed to introduce new products, and adapt to new industry trends. However, the new boss’s finance pedigree and track record managing businesses suggests that his main job will be to implement the group’s current strategy. It aims to increase revenue by 3% to 5% annually until 2027 and boost operating profit growth above that level.

Carlsberg shares have risen more than 60% during Hart's tenure, outperforming AB Inbev and Heineken, whose shares have dropped around 47% and risen around 45% respectively. Carlsberg's shares fell 3.5% at market open in Copenhagen, but later pared losses and were 0.7% lower at 1118 GMT. "Cees 't Hart has delivered remarkable results during his time at Carlsberg," Supervisory Board Chair Henrik Poulsen said. It is also seeking an option to buy back the Russian business in the future. With only around 16% of revenue coming from Eastern Europe, Carlsberg's biggest markets are Western Europe and Asia.

☆ New Carlsberg CEO’s task: stay ahead of Heineken
▼ + stars: | 2023-03-07 | by ( ) www.reuters.com time to read: +2 min

LONDON, March 7 (Reuters Breakingviews) - Carlberg’s (CARLb.CO) new boss may struggle to maintain its newfound fizz. The $21 billion Danish brewer revealed on Tuesday that Chief Executive Cees 't Hart will retire after eight years at the helm. The company now trades at nearly 11 times its expected EBITDA for 2023 according to Refinitiv data, a premium to arch rival Heineken (HEIN.AS). In 2022, Heineken grew revenue in its Asia-Pacific market by 70%, while Carlsberg’s sales in the region rose by 22%. If the new boss can’t keep pace, Carlsberg shareholders will face a painful hangover.

☆ AB InBev upbeat on 'resilient' beer, China recovery
▼ + stars: | 2023-03-02 | by ( Philip Blenkinsop | ) www.reuters.com time to read: +3 min

AB InBev's sales and earnings declined in China due to a strict zero COVID policy that was suddenly dropped in December. In the United States, AB InBev's largest market, profit and revenue increased, largely because of price increases, although those same increases, along with harsh winter weather in December, cut into beer sales in volume terms. REUTERS/Toby Melville 1 2Brewers have raised beer prices in response to higher energy and raw materials costs, and both Heineken (HEIN.AS) and Carlsberg (CARLb.CO) have warned of reduced beer consumption in Europe because of the increases. For the whole year, core profit growth was 7.2%. AB InBev also increased its full-year dividend to a proposed 0.75 euros from 0.50 euros in each of the past two years.

☆ Unilever Tries Reformulating Its Ice Cream to Survive Warmer Freezers
▼ + stars: | 2023-02-22 | by ( Katie Deighton | ) www.wsj.com time to read: +6 min

Keeping ice cream at 10 degrees as opposed to zero will reduce energy use and greenhouse gas emissions by roughly 20% to 30% per freezer, it said. Unilever’s out-of-home ice cream sales declined slightly during the fourth quarter of 2022 because, the company said, some stores unplugged their freezers sooner in the year than usual. Higher temperatures can lead to softer ice creams that stick to wrappers and slide off ice cream sticks, for example, said Andrew Sztehlo, chief research and development officer for Unilever’s ice cream division. The warming program isn’t designed to sweat competitors out of Unilever freezers, which some shopkeepers fill with an assortment of brands that don’t carry the Unilever logo, Mr. Sztehlo said. Representatives from ice cream makers Nestlé SA, Mars Inc., General Mills Inc. and Froneri International Ltd. declined to comment.

☆ Bill Gates buys Heineken stake, despite saying he's 'not a big beer drinker'
▼ + stars: | 2023-02-22 | by ( ) www.reuters.com time to read: +1 min

[1/2] Microsoft founder Bill Gates reacts during a visit with Britain's Prime Minister Rishi Sunak of the Imperial College University, in London, Britain, February 15, 2023. Justin Tallis//Pool via REUTERSAMSTERDAM, Feb 22 (Reuters) - Bill Gates has bought 3.76% stake in Dutch drinks giant Heineken Holding NV (HEIO.AS), although the billionaire founder of Microsoft has previously said he was "not a big beer drinker." Heineken Holding owns a controlling stake in brewer Heineken NV (HEIN.AS). A separate filing also dated Feb. 17 showed FEMSA sold all 18 million shares it held in Heineken Holding. Gates purchased 10.8 million shares, worth 883 million euros ($939.87 million) at current market prices, triggering a disclosure requirement under Dutch stock market rules.

☆ Unilever fourth-quarter sales boosted by higher prices
▼ + stars: | 2023-02-09 | by ( ) www.reuters.com time to read: +2 min

LONDON, Feb 9 (Reuters) - Unilever Plc (ULVR.L) on Thursday reported quarterly underlying sales growth above expectations, helped by higher prices for its detergents, soaps and packaged food. The packaged goods industry has raised prices sharply over the past year to cope with surging costs of everything from cocoa and sunflower oil to wheat. "In the first half, underlying price growth will remain high, and volume growth will be negative," Unilever said in a statement. "Volume will improve as price growth softens, but it is too early to say whether volume will turn positive in the second half." Underlying sales at Unilever rose 9.2% in the fourth quarter, beating company-provided analyst estimate of a 8.2% increase.

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