News

Third biggest buys the fifth biggest. The British tobacco group Gallagher has been bought by by Japanese Tobacco for USD 14,7 billion. This is the largest amount ever paid by a Japanese enterprise for a foreign company. As a result of this transaction, the partially government-owned Japanes group is able to retain its third place in the world market after Altira and British American Tobacco. Their Hungarian subsidiary is Austria Tabak.

Nestlé muscling up in pharmaceutical food. They are going to buy the pharmaceutical food division of Novartis. The transaction to be concluded by the second half of 2007 will make the Swiss company a majopr player in this market. Novartis achieved revenues of USD 950 million and a net profit of 90 million in this field.

Slovakian fair trade office prevented Tesco from taking over Carrefour hyper markets. As Tesco is already the market leader, this move would give them an effective monoply in Slovakia. Tesco has filed an appeal against the decision.

Rudolf August Oetker, one of the wealthiest men in Germany and the mastermind behind the success of Dr. Oetker has died at 90. The company was founded by his grandfather, who patented his baking powder in 1891. Revenues of the Oetker group were over EUR 7 billion in 2006. Their Hungarian subsidiary is Dr. Oetker Magyarország Élelmiszer Kft.

Over 100 Hungarian products made their debut in the shopping centre Mercator in Belgrad between 11. and 17 December 2006. The “Hungarian Week” organised by AMC and with participants like Kaiser Food, PICK Szeged, Hungerit, SáGa, Gallicoop, Merian, Veszprémtej, Pannontej, Köröstej, Délhús was the first step towards entering the market of Southern Slav countries.