The Wall Street Journal-20080118-In Brief
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In Brief
Kellogg Acquires
Russian Food Firm
Kellogg Co. said it bought United Bakers Group of Russia, a maker of crackers, biscuits and breakfast cereals. The price wasn't disclosed. United Bakers, based in Voronezh, Russia, has about 4,000 employees and six manufacturing plants, as well as a large sales-and- distribution network. The company sells primarily under the Yantar and Lyubyatovo brands and had sales of about $100 million in 2007.
-- Roundup
SABMiller Reports
Slowdown in Suds
SABMiller PLC, one of the world's largest brewers, said beer-volume growth slowed in its fiscal third quarter, ending Dec. 31, with slowdowns in Latin America, Europe and China and a drop in South Africa. Stripping out acquisitions, volume rose 4%, following an 11% rise in the first half. Analysts had forecast 4% to 9%. SABMiller shares fell 4.6% to close at GBP 11.87 ($23.30) in London.
-- Reuters
Remy Cointreau
Posts Low Growth
Remy Cointreau, the French maker of Mount Gay Rum and Piper Heidsieck champagne, said its nine-month sales rose just 3.3%, driving its shares sharply lower. Revenue for the fiscal nine months through Dec. 31 rose to 630.8 million euros ($924 million), compared with 610.5 million euros in the year-earlier period, the company said in a statement. Investors sent the stock down 11% to 38.73 euros in Paris trading.
