UK watchdog to investigate CD&R's $10bln deal for Morrisons
Supermarket group Morrisons must be run as an independent business while Britain's competition regulator reviews its 7bln pound ($9.7bln) takeover by Clayton, Dubilier & Rice (CD&R), the watchdog said. The Competition and Markets Authority (CMA) issued an Initial Enforcement Order (IEO), prohibiting U.S. private equity group CD&R from integrating Morrisons with its operations or transferring ownership of the company until the deal is cleared.
Source: reuters.com
Russian shareholders consult with banks about IPO for Croatia's Fortenova - sources
2 key Russian shareholders of Croatian food producer and retailer Fortenova Grupa, formerly known as Agrokor, have started consulting investment banks about taking the company public in the next 2-3 years, 2 sources said.
Source: reuters.com
China: Alibaba supermarket chain promises to upgrade village farms
Alibaba supermarket chain Freshippo announced plans to invest in 1,000 “Freshippo Villages”, committing to spend 100bln yuan ($15.7bln) ordering produce from farmers in those villages. The name echoes Alibaba’s “Taobao Villages”, cottage industry centers that have grown up to supply the vast e-commerce platform.
Source: sixthtone.com
Turkish retail chains object to $283mln fine, prepare for court
Turkish supermarket chains Şok and CarrefourSA joined their rivals BIM and Migros in taking the recent anti-trust watchdog move against them to court. The Competition Authority (RK) said it has fined the country’s 5 biggest supermarket chains BIM, Migros, CarrefourSA, Şok Marketler and Yeni Mağazacılık, known as A101, as well as supplier Savola Gıda a total of TL2.7bln ($283mln) for violating antitrust regulations.
Source: dailysabah.com
Kurly, the Korean online grocery startup, plans June IPO at estimated $5.9bln valuation
Kurly, a South Korea-based online grocery startup that provides next-day delivery services across the country, will go public by June next year. The startup, which declined to comment on how much it plans to raise via IPO, said it estimates the company valuation at approximately $5.9bln after it goes public.
Source: techcrunch.com
Tesco facing disruption to supplies from possible strike action
Unions have warned that Tesco is risking empty shelves this winter after an “offensive” pay offer prompted a nationwide strike ballot amongst its logistics workers. The ballot of 3,500 Tesco lorry drivers and warehouse workers for strike action at the Belfast, Didcot, Doncaster and Thurrock regional distribution centres comes after a 4% offer was rejected.
Source: kamcity.com
Jeff Bezos is investing in this Indonesian e-commerce start-up
Indonesian e-commerce start-up Ula is a wholesale marketplace aiming to modernize the country’s millions of mom-and-pop kiosks, or warungs, by providing inventory and delivery services as well as financing. Founded in January 2020 by CEO Nipun Mehra, the company has thrived under a pandemic-induced shift to digital, so far raising over $117mln in funding from big names like Tencent and Lightspeed Venture Partners.
Source: cnbc.com
France: Carrefour is confirming it supports producers, pledging to ensure fairer payment for its "Carrefour quality line" partners
Carrefour has just announced that it is renewing 11 of its Carrefour Quality Line (CQL) contracts. The group is continuing with its drive to support French producers, as well as providing its customers with high-quality products by speeding up roll-out of its Carrefour Quality Lines, the aim being to promote the food transition for everyone.
Source: carrefour.com
Pieter Pot expands to Belgium now, Germany in 2022
Dutch waste-free online supermarket Pieter Pot has made its 1st delivery in Belgium, and announces Germany is next on the agenda. The webshop offers some 300 products in bulk, including A-brands like Callebaut, Haribo and Heinz.
Source: retaildetail.eu
Philippines’ richest man set to see his supermarket IPO sizzle
AllDay Marts Inc., a supermarket chain founded by the richest person in the Philippines, is poised to jump in its trading debut thanks to heavy retail investor interest. AllDay’s offer was about 4 times oversubscribed, with the company and billionaire Manuel Villar raising a combined P4.52bln ($89mln) by selling 7.52bln shares at 60 centavos each. Trading is scheduled to begin Wednesday in Manila.
Source: bworldonline.com
Amazon workers in Germany to strike for better pay
Workers at some Amazon warehouses in Germany began strike action on Monday, services sector union Verdi said, as part of a long-running battle with the U.S. tech giant over better pay and working conditions.
Source: reuters.com
New Zealand's supermarket inquiry: Foodstuffs, Woolworths deny holding duopoly
The Commerce Commission hearing into the draft grocery market study has been looking at whether the wholesale market should be reformed, and if the big 2 should be broken up and divest stores. Foodstuffs and Woolworths said interfering with their operations or structure of the food wholesale operations they own would lose the efficiencies that come from vertical integration and increase costs, which consumers would carry.
Source: rnz.co.nz
UK: Morrisons to become the 1st supermarket to own & operate a solar farmMorrisons has committed to achieving net-zero carbon emissions by 2035, 15 years ahead of the government’s target. As part of the carbon reduction drive, Morrisons also announced that it will become the 1st supermarket to own and operate its own solar farm across sites such as manufacturing facilities as well as stores.
Source: retailgazette.co.uk
Brazil: GPA rolls out new proximity store format
Brazilian retailer GPA has rolled out Pão de Açúcar Fresh, a neighbourhood store format specialising in fresh food, perishables and healthy items. The new banner joins the group’s other banners - Pão de Açúcar, Mercado Extra, Minuto Pão de Açúcar, Pão de Açúcar Adega and Mini Extra.
Source: esmmagazine.com
Canada: Costco opens new warehouse in Anjou, Quebec
Everything is bigger at Costco, including the new Costco. At 155,733 square feet, the new warehouse in Anjou, Quebec is 20% larger than its previous location just down the road - which will be converted into a Costco Business Centre - and it has 125 more parking spots, too.
Source: canadiangrocer.com
C3, the fastest growing global food tech platform, announces partnership with revolutionary robot delivery service, Coco
C3 (Creating Culinary Communities), the fastest growing global food tech platform founded by Sam Nazarian, announced a partnership with Coco, a revolutionary robot delivery service that brings food to consumers faster and more sustainably. Coco's now deliver C3 virtual restaurant brands to addresses within 2 miles of the company's digital kitchens on Broadway and Main Street in Santa Monica, The Grove in West Hollywood, and in Los Feliz. Based on the partnership's preliminary success, expansion is planned for additional Los Angeles neighborhoods and several major U.S. cities.
Source: prnewswire.com
Canada: Shopify's revenue rises in run-up to key holiday season; shares up
Canadian e-commerce giant Shopify Inc reported a 46% rise in quarterly revenue as consumer spending "normalizes" after a year of a pandemic-fueled online shopping frenzy, sending its shares up 9%.
Source: reuters.com
Amazon Canada opens landmark sort centre in Quebec
Amazon Canada has opened what it’s calling “the most advanced sort centre in the country”, creating 500 full-time jobs. The 720,000-sq.-ft. facility in Coteau-du-Lac, Quebec will be the 1st in Canada to be outfitted with new, high-tech fulfillment systems that will improve speed, efficiency and worker safety.
Source: canadiangrocer.com