CHECKOUT COUNTER: Coke eyes energy drinks
Coca-Cola, which wants to be a ‘total beverage company’, is planning to add a new drink, Coca-Cola Energy, to its portfolio
1. Investment jeans
Levi Strauss & Co is planning an IPO, people with knowledge of the matter told CNBC. Levi’s wants to raise between $600m and $800m and is targeting the first quarter of 2019 to go public, said the sources, who asked not to be named as they were discussing confidential deal details. The company is aiming to debut with a valuation upward of $5bn and has reportedly tapped Goldman Sachs and JPMorgan to manage the deal.
2. Diageo to sell 19 brands
Diageo, the owner of Johnnie Walker whisky, will sell a 19-brand portfolio to US distilling company Sazerac for $550m. Some of the brands that London-based Diageo will shed are Goldschläger schnapps, Seagram’s VO blended whiskey and Yukon Jack whiskey liqueur. Diageo, which also owns brewing company Guinness, wants to focus on premium spirits.
3. Coke eyes energy drinks
Coca-Cola, which wants to be a "total beverage company", is planning to add a new drink, Coca-Cola Energy, to its portfolio. The company has filed for arbitration with Monster, its energy drink partner, to establish if the new product would breach the agreement the companies entered into when Coca-Cola took a stake in Monster and the two swapped products.
4. Sorting wheat from chaff
Kellogg, the maker of cereals such as Kellogg’s Special K, is selling its Keebler, Famous Amos and fruit snacks businesses as it seeks to consolidate its morning foods, snack and frozen foods business units. The reorganisation is part of Kellogg’s previously announced cost-saving programme, Project K, that aims to save up to $475m annually.