Norwegian natural glacial mineral water brand, Isklar, has attracted new investment through the sale of a 50% stake to a global conglomerate, the India-based Siva Group, for $22m.

The transaction creates a 50:50 joint venture between Siva Group and founding shareholders, Sabco Group, a Middle Eastern business group with a premier bottled water brand in Oman, and Jova Holdings, whose owners are also involved in a major Norwegian shipping and logistics company.

“We're delighted by this investment which reflects continued success for Isklar on the international stage,” said Isklar CEO, Peter Krogh. “The Siva Group has always believed in spotting business opportunities ahead of time so this is a significant vote of confidence in our growing brand.”

Source: Isklar

Caffrey's Irish Ale has unveiled a new brand campaign and a reduced ABV to help add more value for customers to the on-trade ale category.

Despite declining volumes in recent years, the on-trade ales market is big, accounting for 1 in 3 beers sold, delivering five million barrels a year and is worth £3.5bn to the UK on-trade.

From 15 March 2010, the ABV of Caffrey's Draught will be reduced from 4.2% to 3.8%. The change in ABV will be supported by in-outlet activity to drive incremental sales and repeat visits to pubs with a 'Buy 3 and get a free one next time you're in' mechanic, activated in outlet via a collector card scheme.

In addition, a new visibility kit and point of sale will be available to help communicate the new ABV in-outlet, and help attract more customers to try the Caffrey's brand.

Source: Caffrey's

Through its Swedish division Saba Fresh Cuts AB, Dole Europe has acquired a 25% stake in Green Vision AB.

"Within Dole Europe, Saba Fresh Cuts has experienced a real development in recent years," said Stefan Grahn, MD at Saba Fresh Cuts. "Now through its participation in Green Vision, the division wants to extend its expertise and offer access to a larger range of fresh-cut produce to its retail and foodservice customers."

"This collaboration will develop a new leadership in fresh-cut fruit focused on high-quality services and production all over Europe," said Jean-Christophe Juilliard, Dole Europe president.

Source: Dole Europe

The International Bottled Water Association (IBWA) has filed a lawsuit against Zero Water Technologies LLC, the seller of at-home water filtration devices, for 'repeatedly engaging in false, misleading and unsubstantiated advertising designed to confuse consumers about its products and about how they compare to bottled water products'.

IBWA's complaint, which was filed in the US District Court for the Eastern District of Virginia, notes that Zero Water has improperly disparaged the quality, safety and cost effectiveness of bottled water in comparison with its own products, and has made false and unsubstantiated claims about the capabilities of its products.

Zero Water claims that its products 'remove 100% of detectable dissolved solids' and falsely suggests that the absence of all total dissolved solids (TDS) creates a healthier, cleaner, tastier water.

In its lawsuit, IBWA points out that TDS is not an indicator of water quality or contamination, as Zero Water insinuates. Rather, it is an innocuous collection of minerals commonly found in water.

According to IBWA president, Joe Doss, "Total Dissolved Solids mainly affect the taste of water and have not been shown to produce adverse physical health effects. In fact, the World Health Organization (WHO) has reported that certain concentrations of TDS may even have beneficial health effects."

Read the full IBWA statement here.

Source: International Bottled Water Association

Dale Farm has unveiled a £40m+ investment across its UK dairy operations in a move aimed to support its rapidly growing presence in consumer products and specialist ingredients.

A key part of the investment package is over £20m spend on further expanding the company's award-winning Cheddar cheese business.

The company announced its investment plans at the official opening of the first phase of its investment programme – a 50,000 tonne per annum Alfomatic Cheddar cheese plant and a whey ultra-filtration plant in Dunmanbridge, Cookstown Northern Ireland.

The company has also commenced work on a new chilled products distribution centre at Kendal in Cumbria, and a major upgrade and milk bottle blowing plant with Nampak at its fresh milk facility in Pennybridge, Ballymena, Northern Ireland. The company also announced plans for additional cheese packing facilities in Great Britain, possibly at Kendal.

Speaking at the opening of the new cheese plant, Dale Farm's Group chief executive, David Dobbin, said: "This major investment programme will enable us to further develop our added value sales in the UK and Ireland as well as into key export markets."

Source: Dale Farm Group

Molson Coors is to set up its own direct sales and marketing operations in Northern Ireland, creating up to 14 new jobs.

In a multi-million pound investment, the company will operate from new offices at Adelaide Business Park on the Boucher Road.

The opening of the Belfast office comes three months after the opening of a dedicated office in Dublin, as Molson Coors expands its operations in Ireland. From 15 March, the sales and distribution of Molson Coors' key brands will be handled directly by the company.

Source: Molson Coors

The Extreme Drinks Company has signed a strategic, long-term licence agreement with Ex Drinks LLC in the US and all of its territories, possessions and worldwide military bases.

Since 2007, Ex Drinks has been the sole distributor in the US, focusing its efforts on select West Coast and Hawaiian markets. Under the new agreement, Ex Drinks has exclusive rights to manufacture, market and sell the family of functional beverages.

Source: The Extreme Drinks Company

Coca-Cola Bottling Co Consolidated has earned $38.1m, or basic net income per share of $4.16, on net sales of $1.44bn for fiscal 2009, compared to net income of $9.1m, or basic net income per share of $.99, on net sales of $1.46bn for fiscal 2008.

The results for fiscal 2009 included $8.0m of mark-to-market after-tax gains ($13.2m on a pre-tax basis) due to the company's fuel and aluminium hedging programmes and $1.1m on an after-tax basis ($1.9m on a pre-tax basis) of additional income from the 53rd week of fiscal 2009 (2009 was a 53-week year).

Fiscal 2009 results also included $7.1m in tax benefits which reduced the company's effective tax rate to 30.3%. The results for fiscal 2008 included $10.1m of after-tax charges impacting comparability ($19.4m on a pre-tax basis) which were due to pension exit and strike settlement costs, restructuring expenses and fuel hedging losses.

Source: Coca-Cola Bottling Co Consolidated

Glanbia plc has announced its full-year results for the year ended 2 January 2010.

In a separate Stock Exchange announcement, Glanbia announced that it's in discussions with Glanbia Co-operative Society Limited, its 54.64% shareholder, in relation to the potential disposal of its Irish Dairy and Agri Businesses.

2009 full-year results summary

• Solid financial results, in line with market expectations, in a very challenging trading environment.
• Strong result in Global Nutritionals, particularly Optimum Nutrition.
• Major cost saving initiatives throughout the group during the year, continuing in 2010 in Ireland.
• Increased contribution by higher margin businesses improves operating margin by 10 basis points to 6.1%.
• Strong operational performance achieved across the business.
• Adjusted earnings per share amounted to 30.68 cents, down 14.4%.
• Dividend increase by 5% to 6.84 cents per share.
• Significant capacity expansion programme in Southwest Cheese on track for successful delivery.

Source: Glanbia

Reports suggest that Jones Soda Co has signed a letter of intent to be acquired by Reed's Inc.

The offer from Reed's values Jones at about $9.7m, or 37 cents a share, based on Reed's Monday close of $1.58. According to Reuters, that's a discount of 56% to Jones' Monday close.

Reed's and Jones have until 5 April to negotiate a definitive agreement on an exclusive basis.

Jones Soda has revealed that its current chief executive, Joth Ricci, will step down from 2 April.