German firm to ink ACP buyout

Jonathon Moran and Phil Jacob The Daily Telegraph August 03, 2012 AUSTRALIAN magazine group ACP Magazines – publisher of the Australian Women’s Weekly, Cleo and Woman’s Day – could change hands within days. Industry insiders yesterday suggested an announcement could come as soon as today. It is understood ACP executives have met with a number of potential buyers, including German-based conglomerate Bauer Media Group. There has been industry speculation for months about potential buyers, with Kerry Stokes’ Seven Media, Telstra and WIN boss Bruce Gordon also believed interested. An ACP source said last night: “Talks are at an advanced stage. It is happening.” ACP is the publishing division of Nine Entertainment Group, which was bought by CVC Asia Pacific in 2008. First founded in 1936 by the late Frank Packer under the banner of Consolidated Press, the company has grown to more than 85 magazine titles selling in excess of…

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AACS call for a broader perspective on health

August 2, 2012 As the Health Minister’s plain packaging briefing bandwagon rolls through New York, attracting divided opinion along the way, the Australasian Association of Convenience Stores (AACS) has renewed calls for the health of retailers and small businesses to be considered by Government in its attempt to introduce improved community health outcomes. Download the Full Article

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Kellogg profit beats expectation

AAP August 03, 2012 ESCALATING commodity costs and ongoing weakness in Europe drove Kellogg’s second-quarter net income down 12 per cent Thursday. But adjusted results topped Wall Street’s view and the food maker’s one-two punch of breakfast goods and snacks gave a lift to revenue, driven by sales of Pop-Tarts and strength in North America. Kellogg Co. has long been known to consumers for its morning wake-up foods like Frosted Flakes cereal and Eggo waffles. But the company is aggressively building its snacks business as well, with hopes that its recent $US2.7 billion ($A2.59 billion) acquisition of Pringles from Procter & Gamble Co. will make it a global player in that market. The snacks division already includes Cheez-It, Keebler’s Club crackers and Special K crackers. With consumers busier than ever and worried about the economy and high unemployment, on-the-go foods like Pop-Tarts and Pringles potato snacks are proving popular because…

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Slice of the pie shrinking for small biz

August 3, 2012 The Age ·While shopping, if you’ve felt that big business just keeps getting bigger, your instincts would be right. ·Over the past four years, small businesses market share dropped from 39.5 per cent to 36.5 per cent in the $252 billion industry, according to a report from Morgan Stanley equities research. “The weak retail environment is having a disproportionately large impact on smaller retailers,” said Morgan Stanley Australia equities analyst Thomas Kierath. Looking at retail downturn during the late 1990s showed that larger grocery and food and clothing companies took “considerable” market share from smaller players – “and this share doesn’t come back,” the report said. The advantage larger players such as Woolworths, Coles, Myer and David Jones have suggests they would emerge from the current retail slump in “far stronger market positions,’’ helped by lower costs and better distribution networks. Retail sales rose 1 per cent…

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Tesco lending

August 5, 2012 The Age British retailer Tesco will start offering mortgages to customers with a 20 per cent deposit. The interest rates offered will range from 3.19 per cent for a two-year fixed deal to 4.69 per cent for a five-year tracker mortgage, the company said on its website. The mortgages will be available from August 6 and will also give customers the option of taking monthly repayment holidays each year. ”Entering the mortgage market is a significant step in broadening the products we offer to Tesco customers,” Tesco Bank chief executive Benny Higgins, said. Read more:

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AACS Talking Point

Jeff Rogut Executive Director AACS The former federal health Minister, Nicola Roxon made the following observation over the past weekend: Plain packs won’t hit ciggie sales soon 12:41 AEST Sun Aug 5 2012 Channel 9 Plain packaging isn’t going to see cigarette sales drop off any time soon, former federal health minister Nicola Roxon says. In fact, forward estimates in the budget predict that, if anything, sales will increase over the next few years. But the plain packaging war is a long game, Attorney-General Roxon says. “We’ve been very clear – we haven’t made any estimates about the level of reduction that will flow from plain packaging,” she told Sky News on Sunday. “We think this change will have a long-term impact, particularly in putting off new smokers and young smokers. “It might make them think again, but the truth is it’s about not reaching out and making it glamorous…

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