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Coca-Cola’s Costa exit faces valuation hurdles
United States soft drinks company Coca-Cola, is scrambling to save its Costa Coffee sale after a pricing standoff put the deal on the brink, forcing urgent weekend talks with private equity suitor TDR Capital. Coca-Cola’s plan to sell Costa Coffee is wobbling, with negotiations threatening to fall apart just days after TDR Capital was named preferred bidder. While TDR was selected as Coca-Cola's preferred bidder last week, talks with the company and its advisers at Lazard have stumbled over the price of a deal that is understood to include the soft drinks giant retaining a small stake in the British coffee chain. According to the Financial Times, the two sides are locked in last-minute discussions as they try to bridge a gap over valuation. At the heart of the dispute is price, with Coca-Cola understood to be chasing around £2 billion (A$4.01 billion) for Costa. This is considered a tough sell given that the business has struggled to keep up with cheaper rivals and independent cafés while battling higher costs. The current proposal would leave Coca-Cola holding a minority holding, a lever that could yet be pulled to get the deal across the line. If talks fail, Coca-Cola is expected to decide next week whethe
Food
Founders: CINCiN making a name in the alcohol market
CINCiN beverages entered the market around a year ago with a focus on making a lighter, high-quality alternative to traditional drinks. The drinks company was founded by siblings Julian and Claudette van den Berg alongside their father Frank, and the drinks finally launched on 12 December 2024. Entering into a volatile and competitive market, the family business was able to succeed in its first year due to its ability to follow alcohol trends and the founder’s business knowledge.Family affairWhile creating the business has been an endeavour years in the making, Julian says, he, Claudette and Frank took a leap of faith last year, quitting their jobs and diving headfirst into the business. Each member of the family brings different business knowledge to the table, from Frank with his manufacturing knowledge, Claudette with her marketing and branding expertise, to Julian’s experience with startups, focusing on customer experience. “I think we all come from experience-led backgrounds where it's all about thinking about the end journey and the user journey,” Julian tells Azzet. Julian says this has always been a dream for the family and that they took their time bringing the drinks to the market. “It was about a year
Food
Coca-Cola names COO Henrique Braun as new CEO
Coca-Cola COO Henrique Braun will take over as CEO in March 2026, the company said, as it works to sustain its momentum amid lukewarm demand for soft drinks. Braun has been COO and executive vice president since January 2025. Current CEO James Quincey, who has held the role for nine years, will become Coca-Cola’s executive chairman. “James will continue to be very active in the business through his role as Executive Chairman. We are confident that Henrique Braun will build on the company’s existing strengths to unlock more growth opportunities and increase the power of the incredible Coca-Cola system,” said Coca-Cola’s lead independent director David Weinberg. “I will focus on continuing the momentum we’ve built with our system. We’ll work to unlock future growth in partnership with our bottlers. I’m excited about the future of our business and see huge opportunities in a fast-changing global market,” said Braun. Braun was previously the company’s president of international development and president of its Latin America unit. Both Braun and Quincey joined Coca-Cola in 1996. Quincey was also COO and president of the company’s Europe group before becoming CEO. The board will nominate Braun to stand for election as
Food
San Francisco sues companies over ultra-processed food
San Francisco has sued food companies including Kraft Heinz, Coca-Cola, and Nestle USA, saying they knowingly sold harmful processed products. The lawsuit also covers Mondelez, Post Holdings, Pepsi, General Mills, Kellogg, Mars, and ConAgra, and is the first government suit of its kind in the United States. “These companies created a public health crisis with the engineering and marketing of ultra-processed foods,” said San Francisco City Attorney David Chiu. “Recent surveys show Americans want to avoid ultra-processed foods, but we are inundated by them. These companies engineered a public health crisis, they profited handsomely, and now they need to take responsibility for the harm they have caused.” San Francisco’s lawsuit, filed in the city’s Superior Court, alleges these companies’ sales and marketing tactics violate California’s unfair competition laws and public nuisance statutes. It seeks financial penalties and an order preventing further deceptive marketing. According to the suit, ultra-processed foods have been disassembled, chemically combined with additives, and reassembled. They often include artificial colours, flavour enhancers, emulsifiers, or sweeteners. Around 70% of the U.S. food supply is ult
Food
KFC parent serves up growth despite rising living costs
Collins Foods reported record revenues, margin expansion and earnings growth for the first half of the 2026 financial year (H1 FY26) as its business continued to grow in its Australian domestic market, along with Europe, despite cost-of-living challenges. The quick service restaurant operator said statutory net profit after tax (NPAT) rose 12.7% to $27.2 million and underlying NPAT climbed 29.5% to A$30.8 million (US$20.1 million) on revenue, which grew 6.6% to a record $750.3 million (HY25: $703.5 million) in the half year ended 12 October 2025. Underlying earnings before interest, tax, interest, depreciation and amortisation (EBITDA) rose 11% to $113.9 million, helped by productivity gains, while stable depreciation supported a 20% jump in underlying EBIT to $63.0 million. Directors declared a fully franked interim dividend of 13 cents per share to be paid on 5 January to shareholders registered on 8 December, up from 11 cents in H1 FY25. The company said Taco Bell delivered EBITDA of $0.8 million on slightly lower revenue as it continued discussions with Taco Bell International about transitioning the business in Australia to new ownership.Source: Collins FoodsCollins Foods is targeting year-on-year group underlying

Food
Menulog to exit Australian market after 20 years
Menulog has announced it is shutting down all operations in Australia, after two decades of business. The statement, released today by Just Eat Takeaway, cited “challenging circumstances” as the reason for wrapping up its business here. Approximately 120 employees will be impacted by the closure, but they will be provided redundancy packages, and eligible couriers will receive a four-week “voluntary payment”. “Today is a tough day for the Menulog business, and I would like to reassure everyone this decision was not taken lightly,” said the managing director for Menulog, Morten Belling. Our priority now is to support our customers, couriers and partners. This is why we are providing everyone a two-week transition period, in which customers can redeem unused vouchers and credits." The Menulog platform will remain operational until midnight on 26 November.
Food
McDonald's sales growth misses estimates in Q3
McDonald’s missed estimates on earnings per share and revenue last quarter, though sales grew worldwide. Earnings per share were US$3.22, flat year-over-year and below LSEG estimates of $3.33. Revenue was up 3% to $7.08 billion, but below estimates of $7.1 billion. “We increased global Systemwide sales by 6% and grew comp[arable] sales across all segments, a testament to our ability to deliver sustainable growth even in a challenging environment,” said McDonald’s CEO Chris Kempczinski. “We’re fueling momentum by delivering everyday value and affordability, menu innovation, and compelling marketing that continue to bring customers through our doors.” Comparable sales rose by 3.6% globally, and United States sales increased by 2.4%. International Operated Markets comparable sales fell by 4.3%, and International Developmental Licensed Markets comparable sales were up 4.7%. Sales growth outside the U.S. was driven by Germany, Australia, and Japan, though all regions reported positive comparable sales. McDonald’s comparable sales one year ago had fallen by 1.5% worldwide. According to Kempczinski, traffic among lower-income customers decreased by almost double-digit percentages across the fast food industry during the
Food
Starbucks sales rise for first quarter in two years
Starbucks recorded quarterly same-store growth for the first time in two years, marking a turnaround for the global coffee chain. In Q4, global comparable store sales increased by 1% and were mainly driven by a 1% increase in comparable transactions, surpassing Wall Street expectations of a 0.3% decline. “We’re a year into our ‘Back to Starbucks’ strategy, and it’s clear that our turnaround is taking hold,” Starbucks chairman and CEO, Brian Niccol, said. “Our return to global comp growth and the momentum we’re building give me confidence we’re on the right path to deliver the very best of Starbucks for our customers, partners and shareholders.” The greatest quarterly growth was in international markets, where same-store sales rose by 3% while North America and the U.S. same-store sales remained flat. Despite the quarterly growth, same-store sales for Starbucks fell by 1%, driven by a 2% decline in comparable sales transactions for the full year. However, chief financial officer Cathy Smith warned shareholders not to celebrate this success too early. “We know this continues to be a multi-year turnaround,” she said. “We remain focused on driving our topline while managing the costs that are within our control
Food
Result and PE investment put fizz back into KDP shares
Keurig Dr Pepper (KDP) shares rose after the North American beverage company reported improved results for the third quarter of the 2025 financial year (Q3 FY25), upgraded its sales guidance and announced a private equity (PE) capital injection. The company said net income increased 7.5% to US$662 million and diluted earnings per share (EPS) rose 8.9% to 49 cents on net sales, which grew 10.7% to $4.31 billion in the three months ended 30 September 2025. Sales growth was driven by volume/mix growth of 6.4% and favourable net price realisation of 4.2% while income growth was driven by sales growth and productivity savings, partially offset by inflation. For the first nine months of FY25, diluted EPS grew 9.5% to $1.27 on net sales, which rose 7.3% to $12.1 billion. KDP revised its FY25 constant currency net sales growth guidance to the high-single-digit percentage range from the mid-single-digit growth outlook given previously but left the adjusted diluted EPS growth forecast unchanged at the high-single-digit range. "We are pleased with our third quarter results, which demonstrated robust growth in U.S. Refreshment Beverages and encouraging sequential progress in U.S. Coffee.” CEO Tim Cofer said in a news release.