Casey’s General Stores, a US chain of convenience stores, has agreed to acquire Fikes Wholesale, the owner of CEFCO convenience stores, in a deal worth $1.15 billion. The purchase price includes tax benefits estimated at $165 million for a net after-tax purchase price of $980 million. Fikes Wholesale, which began as a single 'filling station' in Cameron, Texas, in 1952, operates 198 retail outlets and a dealer network across multiple states. The acquisition will expand Casey’s network to nearly 2,900 stores, adding 148 locations in Texas and 50 in Alabama, Florida and Mississippi. The deal also includes a fuel terminal and commissary to support the Texas operations. Darren Rebelez, board chair, president and CEO of Casey’s, said: “This acquisition will allow Casey’s to accelerate our unit growth plan with high-quality assets that, along with our recent 22-store acquisition in northern Texas, will provide an expanded presence in Texas and allow us to continue to expand in the state and region.” Raymond Smith, president of Fikes and CEFCO, highlighted: “The acquisition by Casey’s, especially given its reputation and shared values, is an exciting development for Fikes and our employees. I am happy that the CEFCO stores will join a top convenience retailer that will reinvest in the stores and eventually bring Casey’s pizza to many of our customers, as well as provide professional opportunities for our employees. We believe Casey’s will be an excellent steward of the CEFCO experience that our loyal customers have come to expect.” Rebelez added: “We expect the acquisition will create value for Casey’s shareholders in the near- and long-term and will be accretive to Casey’s EBITDA in the current fiscal year. Fikes is a well-run and well-respected company in our industry, and we look forward to welcoming the Fikes team to the Casey’s family. We could not be more excited about the future of our two organisations.” The deal is expected to close in the fourth quarter of 2024, pending regulatory approval. Casey’s will fund the transaction with cash and bank financing, targeting $45 million in annual run-rate synergies after completing kitchen upgrades at the newly acquired stores. Top image: © CEFCO #Caseys #CEFCO #conveniencestores #US

Doritos has introduced a new limited-edition coffee flavour aimed at tackling afternoon fatigue. Doritos Coffee combines the familiar crunch of Doritos with the rich taste of coffee. The initiative responds to the frustration of Australians who find their favourite coffee shops closed in the late afternoon. The new flavour aims to offer a convenient alternative for those craving a coffee fix while snacking. Kat Miller, senior brand manager at Doritos, said: “Each afternoon, people across the country are left disappointed by their favourite coffee shop being closed just as they need an afternoon pick-me-up. This is why we’re excited to announce the release of Doritos Coffee – the perfect snack to help Aussies beat the 3 pm slump." Doritos Coffee is not available for purchase. Instead, the company is giving away 25 packs daily through a giveaway on its Instagram page. This release follows the launch of Doritos Coriander in 2023, which received mixed reviews across Australia due to its 'soapy flavour'. #Doritos #Australia #Coffee #Newflavour

US coffee technology company Bellwether Coffee has announced the launch of its next-generation automated coffee roasting system. The Series 2 Bellwether Automated Roasting System delivers “consistent artisan-quality” results without requiring gas lines, ventilation or previous roasting experience. The new device includes 50% extra hourly roasting capacity (three roasts per hour); a 24-inches built-in touchscreen; an online click-and-ship marketplace; an armless cooling tray; and improved efficiency and durability. Ricardo Lopez, founder of Bellwether Coffee, said: “With hundreds of customers roasting on our Series 1 roaster, we’ve seen firsthand the potential for our roasters to empower coffee retailers in not only reducing their carbon footprint but also in growing revenues and evolving their businesses to meet the needs of the current landscape”. He continued: “Our new roaster is a massive step to transforming the coffee industry, making it more sustainable for the planet and accessible to all communities”. Kristen Johansen, chief product officer of Bellwether Coffee, added: “Our technology brings the craft of coffee roasting into a digital platform that anyone can use. Our new, intuitive software enables any cafe, bakery or restaurant to take full control of their coffee program and sustainably source and roast their own incredible coffee with the touch of a button.” According to Bellwether, the company reduces 87% of the carbon footprint from roasting with its closed-loop system. #BellwetherCoffee #coffeeroastingsystem

Starbucks has announced that its current president and CEO, Kevin Johnson, will retire – effective 4 April. Howard Schultz, who was the coffee chain’s CEO prior to Johnson, will serve as interim CEO. Johnson is stepping down after 13 years with the company. He first joined Starbucks in 2009 as a director before being promoted to president and COO in 2015, and president and CEO in 2017. Schultz will serve as the company’s interim CEO until a suitable replacement is found. Starbucks says Schultz is “singularly qualified,” having served as the company’s CEO in 1987-2000 and 2008-2017. He will also rejoin the company’s board of directors. Mellody Hobson, independent Starbucks board of directors chair, said: “Kevin and the entire executive team stepped up to the challenge of the pandemic and navigated one of the most difficult periods in modern history. The economic certainty provided to partners during the early months of the Covid shut down, as well as during mandatory quarantines, underscores our core values and will be an enduring legacy for the company.” She continued: “As the company navigates the aftermath of the pandemic and socio-economic forces impacting the lives of all our stakeholders, Howard will reinforce the company’s culture, underscoring the organisation’s commitment to innovating and executing on our core purpose and reason for being: to inspire and nurture the human spirit – one person, one cup and one neighbourhood at a time.” #Appointment #coffee #Starbucks

Premium mixer brand Fever-Tree has expanded its beverage portfolio with the launch of a new blood orange ginger beer flavour variety. Fever-Tree has partnered with bourbon brand Maker’s Mark to develop the custom flavour. The new release is designed to pair with the characteristics unique to bourbon, combining the sweet notes of Italian blood oranges with the fiery, full-bodied taste of its signature ginger beer. The new drink contains a blend of three real gingers sourced for their distinctive, flavour profiles as Fever-Tree expands its popular ginger beer range for the first time. Charles Gibb, CEO of Fever-Tree USA said: “We are delighted to innovate our ginger beer range to capitalise on the fastest growing and largest spirits categories – which is why we’ve created a liquid that pairs perfectly with bourbon, vodka, and tequila. “Fever-Tree is always on the forefront of innovation and works with the best in class/leaders in the industry partners, like Maker’s Mark, to ensure the best quality, flavour, and mixer to make the world’s best drinks.” In line with Fever-Tree’s existing mixer portfolio, the new beverage is non-GMO certified and contains no artificial sweeteners or colours. The blood orange ginger beer mixers are available to buy in select retailers across the US, at an RRP of $4.99 per 4-pack. #FeverTree #MakersMark #mixers

BrewDog has launched a new vodka in three flavours, made from beer that does not meet the company’s standards. Instead of being wasted, the below-standard beer batches are transported across the road to BrewDog’s new distillery, where it is processed to create the new vodka. Available in three flavours, original, vanilla toasted marshmallow and tropical guava, the vodkas are packaged in recycled glass bottles and labelled with wood pulp, in line with BrewDog’s commitment to the environment. The waste-reducing vodka boosts the company’s existing ecological credentials: an anaerobic digestor and 9,308-acre planting and peatland restoration projects, affirming BrewDog’s position as a carbon-negative business. James Watt, CEO of BrewDog, commented: “This is a hugely exciting launch for BrewDog and BrewDog Distilling Co, highlighting both businesses’ commitment to the environment. We are looking forward to continuing our research into new ways to prevent wastage in our industry.” The vodkas are available nationwide in Tesco stores and on the company’s website, for an RRP of £20 per 700ml, 40% ABV. #BrewDog #carbonnegative #UK #vodka

SharkNinja has introduced the Ninja Luxe Café, a three-in-one espresso, drip coffee and cold brew maker designed to replicate barista-quality brews at home. Equipped with Barista Assist Technology, the machine guides users through the coffee-making process with features like customised grind size recommendations, weight-based dosing, and precise control over brewing temperature and pressure. The Ninja Luxe Café's Dual Froth System combines steaming and whisking for hands-free frothing, producing perfectly textured hot or cold microfoam with both dairy and plant-based milk. Users can select from four preset froth styles: steamed milk, thin froth, thick froth and cold foam. Neil Shah, chief commercial officer at SharkNinja, said: “Our new Ninja Luxe Café is an easy-to-use three-in-one espresso, drip coffee and cold brew maker that solves consumers’ biggest pain points with espresso machines". "The tailored grind-size recommendations, built-in scale and hands-free frothing system remove complicated processes to eliminate sour, bitter brews and manual frothing hassles for café-quality drinks at home. At SharkNinja, we believe that consumers deserve exceptional performance and versatility at an accessible price point, and we’re excited to bring that to coffee lovers with the launch of the Ninja Luxe Café.” The machine offers versatile brewing options, including double and quad shots, classic, rich or over-ice drip coffee and cold brew, with sizes ranging from six to 18 ounces. Its cold-pressed espresso feature brews at a lower temperature and pressure for a smoother, more flavourful result. The Ninja Luxe Café is currently available via the brand's website for $499.99. It will soon be offered at other major retailers, including Amazon, Crate & Barrel, Kohl’s and Target. #SharkNinja #coffeemachine #US

Keurig Dr Pepper (KDP) has announced plans to close its K-Cup production site in Windsor, Virginia, US, by the end of the fourth quarter of 2024. This decision coincides with the company's increased production at its Spartanburg, South Carolina, facility, which aims to rebalance production geographically and improve operational efficiency. According to media outlets, the closure of the facility will affect 379 workers. In a statement, the company expressed gratitude for the dedication and hard work of its Windsor team and the support from the local community. KDP said: "We are thankful for the contributions and commitment of our Windsor team and the local community, and we will support our employees through this transition, including severance packages and career planning assistance." Additionally, the company has assured that team members will have the opportunity to apply for positions at other locations where they are qualified, with a commitment to prioritsing the review of their resumes and qualifications. The beverage giant added: " Team members may apply for any jobs for which they are qualified at other sites. The company will make the review of their resumes and qualifications a priority." Top image: © Luigi Lavazza #KeurigDrPepper #US

Pentair and Minneapolis-St. Paul International Airport (MSP) have partnered to provide high-quality drinking water and cut down on single-use plastic bottles for the millions of travellers at MSP each year. MSP, managed by the Metropolitan Airports Commission (MAC), is the 19th busiest airport in North America by passenger traffic. Pentair has become the first partner in MSP’s new strategic initiative designed to improve passenger services and drive innovation. As the Official Water Sponsor, Pentair will deploy the HydroStations, which provide free, chilled, and filtered water, along with interactive educational features about water-related issues and the environmental benefits of using reusable water bottles. The HydroStations utilise Everpure filtration technology from Pentair Water Solutions, offering employees and travellers a sustainable alternative to single-use plastic bottles. Adrian Chiu, EVP and president of Pentair Water Solutions, said: Our Everpure filtration technology is a leader in the foodservice industry, and we are excited to bring our filtration expertise to MSP in support of their efforts to reduce plastic waste and promote sustainable practices by providing travellers with free, filtered water at the HydroStations.” Currently, MSP’s 80 water bottle refill stations help decrease the use of approximately 600 pounds of plastic bottles daily. The new HydroStations will enhance this impact by using IoT technology to track and display real-time data on the reduction of single-use plastics, including savings in plastic use and carbon emissions. Brian Ryks, CEO of the MAC, commented: “Our goal is to make it easy for passengers and our airport community to choose reusable options over single-use options. We’re excited about this strategic partnership because it shines a brighter spotlight on ways to reduce waste and support sustainable practices that go well beyond the airport.” Jorge Richardson, Hope Hydration CEO and Founder, added: “Our mission is to encourage people to refill, not landfill; we are excited to showcase the Hope HydroStation at MSP, one of the world's leading sustainable airports, powered by Pentair's advanced Everpure filtration technology. This is a major step for us together towards building a more sustainable future everywhere. As frequent travellers, we understand the need for great hydration solutions in airports, and we are thrilled to help travellers make a positive environmental impact.” #Pentair #MSPairport #HydroStations #waterstations #US

The Coca-Cola Company has announced the retirement of three veteran board members: Barry Diller, Alexis Herman and Marc Bolland, effective 1 August 2024. Collectively, these three directors have contributed nearly five decades of service to the beverage giant's governance. James Quincey, chairman and CEO of Coca-Cola, commented: “I thank Barry, Alexis and Marc for their years of service and the important contributions they made in their distinct ways. They will be missed, and I wish them all the best.” Diller, who joined the board in 2002, has chaired the finance committee since 2013. He is known for his leadership roles in major media and technology companies, including IAC Inc. and Expedia Group. Herman, a director since 2007, has been a prominent figure in risk management and diversity initiatives. As chair and CEO of New Ventures, she has also served as US Secretary of Labor, where she focused on workforce development and labour policies. Her previous role as chair of Coca-Cola’s Human Resources Task Force was pivotal in reshaping the company's HR practices post-litigation. Bolland, who has been with the board since 2015, brings a wealth of experience from the retail and beverage industries. His leadership roles at Blackstone Group, Marks & Spencer and Heineken NV have equipped him with valuable insights into operational efficiencies and market strategies that align with Coca-Cola's global ambitions. In light of these retirements, Quincey emphasised the company's commitment to board refreshment, ensuring that future nominees enhance the board's collective expertise. “Our board is comprised of a highly capable group of leaders who are well-equipped to oversee our business and represent the interests of our shareowners,” he noted. Barry Diller Tenure:  Joined Coca-Cola's board in 2002. Positions:  Chairman of the finance committee since 2013. Current roles: Chairman and senior executive of IAC, a media and internet company. Chairman and senior executive of Expedia Group, an online travel platform. Previous experience: Served as special advisor to TripAdvisor (2013-2017) and its chairman during its spin-off from Expedia (2011-2012). Held a director position at MGM Resorts International. Impact:  Diller's expertise in media and technology has significantly influenced Coca-Cola's financial strategies and digital initiatives. Alexis Herman Tenure:  Joined Coca-Cola's board in 2007. Current role: Chair and CEO of New Ventures, a risk management consulting firm. Director at MGM Resorts International. Previous experience: US Secretary of Labor (1997-2001), focusing on workforce and labour policies. Chair of the business advisory board for Sodexo, which specialises in food and facilities management. Served as chair of Coca-Cola’s Human Resources Task Force (2001-2006), enhancing HR practices post-legal challenges. Director at Cummins and Entergy Corp. Impact:   Herman's focus on diversity and human resources has helped shape Coca-Cola’s corporate culture and workforce policies. Marc Bolland Tenure: Joined Coca-Cola's board in 2015. Current roles: Senior advisor to Blackstone Group International Partners (formerly chairman of Blackstone Europe). Director at Exor NV, an investment company. Previous experience: CEO of Marks & Spencer Group, a UK retailer. CEO of WM Morrison Supermarkets, a supermarket chain in the UK. COO of Heineken NV, where he contributed to global operational strategies. Director of International Consolidated Airlines Group. Impact:  Bolland's extensive experience in retail and beverage sectors has provided valuable insights into market trends and operational efficiencies for Coca-Cola. #TheCocaColaCompany #Coc aCola #beverage   #appointments

Blue Bottle Coffee has launched the NOLA Craft Instant Coffee Blend, providing a convenient way for consumers to enjoy their New Orleans-Style Iced Coffee, also known as NOLA. The NOLA Craft Instant Coffee Blend offers the signature taste of Blue Bottle’s New Orleans-Style Iced Coffee, which combines coffee and chicory flavours. The coffee is transformed into aromatic granules that dissolve instantly, which according to the company, delivers "the classic NOLA taste with ease". Benjamin Brewer, senior director of global innovation and coffee quality at Blue Bottle, said: "In celebration of longtime guest favourite, NOLA, we're proud to introduce NOLA Craft Instant Coffee Blend as a way for more people to enjoy this coveted drink". "After countless tastings, we perfected NOLA Instant, ensuring it encapsulates the signature flavour that fans of the drink have come to cherish. With this new addition, alongside our diverse range of NOLA creations and Summer of NOLA festivities, we invite everyone to indulge in the distinct taste of NOLA wherever they may be." NOLA Craft Instant Coffee Blend is available in several options: a package of five pre-portioned single-serve sachets for $10, a three-pack set of 15 sachets for $26, and a one-box set with Blue Bottle's Subminimal NanoFoamer for $47. These can be purchased online, in Blue Bottle cafes or through Blue Bottle's TikTok Shop. #BlueBottleCoffee

Independent beverage solution provider Refresco has entered into an agreement to acquire Frías Nutrición from Alantra Private Equity and the founding family. Frías, which manufactures plant-based drinks, has a production facility in Burgos, Spain, and employs around 250 people. Frías produces private label plant-based drinks, including almond, rice, hazelnut and soy beverages. Hans Roelofs, Refresco’s CEO, commented: “As part of our proven ‘Buy & Build’ strategy, we are looking to expand our capabilities in existing and adjacent beverage categories. The acquisition of Frías significantly strengthens our position in the fast-growing plant-based drinks category. It complements our existing footprint in Spain with a production facility solely dedicated to plant-based products.” Roelofs explained that the acquisition will enable Refresco to further expand its service offering to branded customers and retailers across Europe, accelerating its product innovation capabilities in the plant-based drinks category and underscoring the firm’s ability to capture opportunities in the market. Bruno Delgado-Luque, partner at Alantra Private Equity, added: “Since we acquired Frías in 2019, the company has been on a remarkable growth trajectory, confirming its leadership position in the Iberian Peninsula, and expanding its international business. Together with the Frías family, we launched a major investment plan that resulted in the creation of one of the most modern and efficient plant-based drinks factories in Europe. We are confident that Frías has a bright future ahead and will continue its successful growth with the support of Refresco.” The news follows Refresco’s acquisition of US beverage manufacturer VBC Bottling Company in April this year.  Refresco expected the deal to bolster its footprint and capabilities in North America, strengthening its ability to provide beverage solutions to branded customers. Financial terms of the deal – which is subject to regulatory approval – were not disclosed. #Refresco   #Frías   #Spain   #beverages