• The St. Louis Business Journal reports that “less than three weeks after selling nine grocery stores in the Memphis area to Kroger, Schnuck Markets Inc. is now acquiring seven stores in Rockford, Ill., from Kroger. Schnucks is acquiring seven Hilander stores and one fuel center in Rockford from the central division of the Kroger Co. of Cincinnati. Schnucks already operates four supermarkets, under the Logli name, in the Rockford market.”
• Bloomberg reports that PepsiCo has announced that it has “created two new groups to market snacks and drinks together and guide snack innovation. The Power of One - Americas Council and the Global Snacks Group will both be run by John Compton, who will retain his role as PepsiCo Americas Foods CEO.”
• Bloomberg also reports that “PepsiCo Inc. shareholders stand to reap a 49 percent gain if Chief Executive Officer Indra Nooyi splits the soft drinks business from snack foods, joining a wave of breakups from Kraft Foods Inc. to Tyco International Ltd.”
No such split has been announced by PepsiCo, and a separate story notes that the company says that it “believes in the power of a combined business.”
However, Jack Russo, an analyst for Edward Jones, tells Bloomberg, “I’m sure Pepsi’s facing some pressure. You go through these cycles where you build empires and you break them apart. We’re going through a cycle where the investment bankers are convincing companies smaller is better and the sum of the parts is worth more than the whole.”
Creating even greater pressure on PepsiCo, the story says, has been a much better stock performance by rival Coca-Cola.
• SABMiller Plc has agreed to buy Foster's Group Ltd., for the equivalent of $10.2 billion (US).
• Bloomberg reports that PepsiCo has announced that it has “created two new groups to market snacks and drinks together and guide snack innovation. The Power of One - Americas Council and the Global Snacks Group will both be run by John Compton, who will retain his role as PepsiCo Americas Foods CEO.”
• Bloomberg also reports that “PepsiCo Inc. shareholders stand to reap a 49 percent gain if Chief Executive Officer Indra Nooyi splits the soft drinks business from snack foods, joining a wave of breakups from Kraft Foods Inc. to Tyco International Ltd.”
No such split has been announced by PepsiCo, and a separate
However, Jack Russo, an analyst for Edward Jones, tells Bloomberg, “I’m sure Pepsi’s facing some pressure. You go through these cycles where you build empires and you break them apart. We’re going through a cycle where the investment bankers are convincing companies smaller is better and the sum of the parts is worth more than the whole.”
Creating even greater pressure on PepsiCo, the story says, has been a much better stock performance by rival Coca-Cola.
• SABMiller Plc has agreed to buy Foster's Group Ltd., for the equivalent of $10.2 billion (US).
- KC's View:
