Xtra

Excerpts from our e-newsletter

12/15

PepsiCo will buy out General Mills' share of their Snack Ventures Europe joint venture for $750 million. General Mills' sale of its 40.5% share gives PepsiCo sole ownership of the business, whose sales exceed $1 billion annually.

Pizza Inn, Inc. has fired CEO and President Ronald W. Parker for violating his employment agreement. Rod McDonald, the company's secretary and general counsel, has been named in his stead.

12/14

Kraft Foods will sell its U.K. desserts business to Premier Foods for $135 million. The sale includes Bird's custard, Angel Delight and Dream topping brands, whose 2003 sales totaled $72 million.

Coca-Cola may introduce a new diet cola in the U.S. market in 2005, according to published news reports.

Wendy's International has named Ian Rowden as executive VP-chief marketing officer to replace longtime CMO Don Calhoon, who is semi-retiring.

12/13

PepsiCo, Inc. and Discovery Communications have joined in a $10 million marketing campaign to promote the soft drink maker's new Smart Spot program, which is designed to help consumers make healthy choices.

The History Channel will sponsor a $19.5 million multi-year tourism push for New York City. The deal earmarks $15 million for tourism ads, $3.5 million for historic preservation, and $1 million for programming.

12/8

Colgate-Palmolive will cut 4,440 jobs as part of a four-year restructuring plan. The company hopes to maintain volume growth, improve profits, speed up product and marketing launches and further globalize advertising and sourcing. Colgate expects to save $250 million to $300 million per year by 2009.

FedEx Corp. and the National Basketball Association have formed a marketing alliance under which FedEx will promote its international delivery services through domestic NBA events and league media properties.

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