Nestle says it will keep its prices steady
VEVEY, Switzerland Due to a price ceiling hit by rising costs of commodities, Swiss food maker Nestle will most likely not raise prices of its products any higher in the near term, the company’s chairman said Sunday.
“You are now seeing the impact of price increases which were done some months ago,” Peter Brabeck-Letmathe, Nestle S.A. chairman, said to Dow Jones Newswires. “I would expect [the rising costs of foods] to flatten out over the next several months and not increase anymore as our costs have come down.”
Brabeck-Letmathe was in Malaysia attending the World Economic Forum on East Asia. He said “the worst is probably past” for surges in the costs of raw ingredients such as milk, coffee, salt and cocoa.
Brabeck-Letmathe also said that his company will probably not make any acquisitions any time soon because there aren’t many attractive deals in the horizon. He also reported that Nestle doesn’t have a firm decision to sell its 29 percent hold in L’Oreal, however, it may review the idea some time next year.
Oh Mama! creates ginger ale formulated for pregnant women
BALTIMORE To help with pangs of morning sickness, Oh Mama! Has announced the launch of a new ginger ale specially formulated for moms-to-be.
Oh Mama!’s Ginger Ale Elixir, a beverage infused with ginger, lemon and B vitamins and fortified with folic acid, was created by mother-of-three, Beth Vincent. Vincent explained that she worked with morning sickness and perinatal nutrition specialists to create the ginger ale in order to help women feel more at ease during the months of pregnancy.
“Ginger and ginger ale [have] been used for eons to calm stomachs, so I customized the drink to meet the specific needs of pregnant women,” Vincent said.
Oh Mama! also makes a line of nutrition bars with DHA for expecting women in flavors peanut butter, frosted white raspberry and frosted white lemon.
Oh Mama! Ginger Ale Elixir is available in 8.3 fluid ounces cans by the 24-can case on Amazon.com and retails for $39.43. It is also at Babies ‘R’ Us retail locations; 4-packs retail for about $6.99 to $7.99.
Missouri Gov. against sale of Anheuser-Busch
NEW YORK Belgian brewer InBev’s offer to buy St. Louis-based Anheuser-Busch has generated strong opposition from government authorities in St. Louis and the state of Missouri.
InBev submitted an unsolicited bid Wednesday to buy the company for $65 a share, or $46.3 billion.
“I am strongly opposed to the sale of Anheuser-Busch and today’s offer to purchase the company is deeply troubling to me,” Missouri Gov. Matt Blunt said in a statement Wednesday.
Blunt said that he planned to explore “every option and any opportunity” to keep America’s largest brewer in St. Louis, but conceded that there was no immediate tool available at the state level to block it.
City officials in St. Louis also plan to write to Anheuser-Busch shareholders to persuade them to reject the deal.
Founded in 1852 as the Bavarian Brewery, Anheuser-Busch manufactures and markets the Budweiser and Michelob lines of beer, as well as Bacardi Silver specialty drinks. It also imports beers such as Boddingtons Pub Ale, Grolsch and Tiger Beer.