Get ready to pay more for coffee, beer, bread and snacks
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By Andrea Felsted
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Anxiety about inflation is high. Even as demand roars back, the world’s biggest manufacturers, from Procter & Gamble to Nestle, are seeing the cost of raw materials, whether chemicals or coffee, soar.
Unilever warned of commodity and shipping costs increasing the most in a decade. Oil and plastics are a headache for Nurofen-maker Reckitt Benckiser, while pricier aluminum threatens a nasty hangover at the world’s biggest brewer Anheuser-Busch InBev NV. Walmart and Target Corp may highlight the price demands of their big suppliers when they update on trading in a few weeks’ time.
Get ready to pay more for coffee, beer, bread and snacks
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(Bloomberg) Nestle SA agreed to buy vitamin maker Bountiful Co. for $5.75 billion, becoming a world leader in the field of minerals and supplements as the pandemic boosts demand for pills for health-conscious consumers. Nestle Health Science Chief Executive Officer Greg Behar said the purchase from private equity firms KKR & Co. and Carlyle should double e-commerce revenue from supplements to about $1 billion this year. Chief Executive Officer Mark Schneider dove into the field of vitamins and supplements in his first year as CEO in 2017 with the $2.3 billion acquisition of Atrium Innovations Inc. He has focused on developing larger brands in the competitive, fragmented segment, seeing a market in high-spending health-conscious consumers. “The bolt-on acquisition fits well with Nestle’s strategy to further expand in the highly attractive and globally growing category of specialized nutrition,” wrote Patrik Schwendimann, an analyst at Zuercher Kantonalbank. He said the price