Chew on this: Hershey vies for Cadbury biz?
NEW YORK It seems that Hershey is hungry for one of its competitors, according to published reports.
Earlier this week, rumors began swirling that confectionary giant Hershey is looking to sink its teeth into Cadbury, just one week after U.K.-based company brushed off Kraft’s second bid of $16.7 billion.
The Wall Street Journal reported late Tuesday that Hershey, along with Italian chocolate maker Ferrero, are in talks of submitting a joint bid. Hershey submitted a statement to the London Stock Exchange earlier this week, stating, “at this stage there can be no assurance that any proposal or offer from Hershey will be forthcoming. A further announcement will be made in due course if appropriate.”
“Cadbury is an exceptional standalone business,” said Roger Carr, chairman of Cadbury, said Nov. 9. “Kraft’s offer does not come remotely close to reflecting the true value of our company, and involves the unattractive prospect of the absorption of Cadbury into a low-growth conglomerate business model.”
Coke goes green with ‘PlantBottle’
ATLANTA Coca-Cola’s newest green initiative hit store shelves on Monday, the beverage maker announced.
The “PlantBottle” packaging, a recyclable plastic bottle made partially from plants, is now available in 500-mL and 2-liter sizes. For the PlantBottle packaging in the United States and Canada, up to 30% of the content in the PET plastic comes from plants.
Coca-Cola said its goal is to produce 2 billion of the by the end of 2010.
What’s Hot: Coke pops out slim can
NEW YORK —Addressing consumers’ desire for lower-calorie beverages and reduced-calorie portions, Coca-Cola has introduced a 90-calorie slim can version of its classic cola. The new cans contain significantly smaller servings than Coke’s traditional 12-oz. cans, which contain 140 calories.
The 7.5 fluid-oz. mini cans will be test marketed in Washington, D.C., and New York City in December. Coke plans to expand to a national rollout in March 2010 and to add 90-calorie cans of additional brands, including Fanta Orange and Sprite, as part of that rollout. All will be available in eight-can multipacks and will not be sold individually.
The introduction of the mini cans is “part of a broader effort to adjust to the demands of consumers trying to make better decisions,” according to a statement released by Coca-Cola.
Consumers have been migrating to lower-calorie beverages since the 1990s. Coke’s carbonated beverages were off 3% last year, according to the company’s 2008 annual report, and the percentage of noncarbonated and low-calorie beverages rose from 11% in 2000 to 22% in 2008.
Controlled portions have been successful in the snack category; it could be a smart strategy for keeping consumers interested in carbonated beverages as well.