India: Vegrow raises $46mln in Series C funding round led by GIC
Vegrow, an India-based business-to-business (B2B) fruit marketplace, announced it had raised $46mln in primary and secondary funding. The new funding round is led by GIC, Singapore's sovereign wealth fund, with significant participation from existing investor Prosus Ventures and continued support from Matrix Partners India, Elevation Capital, and Lightspeed, Vegrow said in a statement.
Source: technode.global
African online retailer Jumia to cease food delivery business
African e-commerce firm Jumia Technologies will close its food delivery business in all seven countries in which the unit operates by the end of the year to focus on growing its core online retail business, it said.
Source: reuters.com
Estonia: Tough times boost sales of potato chips and pastries
Even though rapid price advance has seen a slump in food sales, some items are bought more frequently than before despite higher prices. Examples include potato chips, pastries, and vegetables. Coop's representative also pointed to increased Estonian vegetable sales, such as cabbage, beets, and rutabaga. But Marilin Jürisson, head of purchasing for Rimi Estonia, said that their sales volumes have grown in most product categories. Jürisson said that sales of berries have shrunk by almost 40%.
Source: news.err.ee
UK: Lincolnshire's peas on toast is a new food trend that is growing in popularity in London restaurants
The humble Lincolnshire pea is taking on the toast titans thanks to a new food trend that is being served up in London restaurants. Stephen Francis, managing director of Fen Peas, a co-operative of nearly 100 growers in Lincolnshire, is pleased to see the success of peas on toast - especially after the first recipe recently appeared as part of the nationwide Yes Peas campaign.
Source: lincsonline.co.uk
Philippines: 2GO partners with WalterMart for grocery delivery
2GO, a subsidiary of Sy-led SM Investments Corp. (SMIC), is teaming up with supermarket chain WalterMart for seamless grocery delivery in Metro Manila. 2GO has been tapped as the primary logistics solutions and delivery partner for WalterMart Supermarket's E-commerce business.
Source: philstar.com
UK: Aldi assembles team to deliver target of 500 new stores
Aldi has created a new National Real Estate Team as it looks to deliver its plan to open 500 new UK stores. The UK's fourth-largest supermarket recently announced a long-term plan to operate 1,500 UK stores and a distribution network to service them.
Source: talkingretail.com
Belgium: Why A-brands are disappearing at Colruyt
As a result of difficult price discussions, an increasing number of shelves at Colruyt shores remain empty. The Belgian market leader has the lowest price guarantee to defend and is not hesitating to put pressure on A-brand manufacturers to maintain this.
Source: retaildetail.eu
India: Mulyam Agronomics associates with Zepto
Mulyam Agronomics reported: "Thrilled to announce that Mulyam Agronomics is now proudly associated with Zepto as their trusted supply chain and sourcing partner for fresh Fruits and Vegetables!"
Source: linkedin.com
Israel: Victory City Tel Aviv supermarket chain in sale talks
Victory Supermarket Chain CEO Eyal Ravid is in talks to sell the seven Tel Aviv branches of the Victory City sub-chain, which was only opened two years ago, to other companies. The companies interested in buying Victory City are not large chains but three small companies. The companies will be prepared to operate the Victory City branches on Friday nights and Saturdays, which Ravid is not prepared to do, thus allowing rivals to reap the profits instead.
Source: en.globes.co.il
Germany: METRO continues growth path and strategy implementation in 2022/23 - dividend proposed
METRO AG reported: "Sales in local currency grow by 5.6%. Adjusted EBITDA at €1,174mln (2021/22: €1,389mln). Outlook achieved: sales in the upper half of the outlook range, adjusted EBITDA in the lower half. Net income amounts to €439mln (2021/22: €-331mln), earnings per share (EPS) increases to €1.21 (2021/22: €-0.92)".
Source: newsroom.metroag.de
Retailer group files official complaint to EU about French pricing law
Retail industry association EuroCommerce has lodged a formal complaint with the European Commission over a French law that limits supermarkets' ability to discount certain consumer products in France.
Source: reuters.com
UK: Ultra-processed foods are 'robbing' children of the 'joy' of eating, warn experts
A charity concerned with 'the way Britain eats,' with support from celebrity chefs, doctors, and head teachers, has written to the Prime Minister urging him to commit to reducing the amount of ultra-processed foods children consume and 'embracing' schools to be part of the solution. The open letter from the Soil Association states: 'Every school should be supported to provide freshly prepared meals, taking a "whole school approach" to food education that includes direct sensory knowledge of real fruit and vegetables.'
Source: nurseryworld.co.uk
US: Save A Lot taps Fred Boehler as permanent CEO
St. Ann, Missouri-based Save A Lot, said that its board of directors has appointed Fred Boehler as permanent CEO. Boehler, a Save A Lot board member since July 2021, had been serving as interim CEO of the discount grocery banner since October 31 after the resignation of previous CEO Leon Bergmann.
Source: winsightgrocerybusiness.com
US: Chipotle invests in autonomous agricultural robots and climate-smart fertilizer to improve the future of farming
Chipotle Mexican Grill announced it is investing in Greenfield Robotics, a company founded with the vision of making regenerative farming more efficient, cost-effective, and sustainable by leveraging the latest advances in AI, robotics, and sensing technologies, and Nitricity, a company seeking to tackle greenhouse gas emissions by creating fertilizer products that are better for fields, farmers, and the environment. These minority investments are being made through Chipotle's $50mln Cultivate Next venture fund.
Source: prnewswire.com
US: URM Stores automates FSMA 204 compliance
Top Inland Northwest food distributor URM Stores Inc. has ramped up efforts to comply with the FDA's FSMA 204 food traceability law through automation with the ReposiTrak Traceability Network. The solution enables the exchange and maintenance of FDA-required data among the co-op's suppliers, distribution centers, and retail locations in the states of Washington, Oregon, Idaho, and Montana.
Source: progressivegrocer.com
US: Costco buys 20 acres for new store
Costco has acquired 20 acres for a new store that will be built in the Aliana master-planned community in Fort Bend County on the southwest side of the Houston area.
Source: realtynewsreport.com
Canada: Dollarama reports Q3 profit and sales up, raises comparable-store sales guidance
Dollarama Inc. reported its third-quarter profit and sales rose compared with a year ago and raised its guidance for comparable-store sales. The retailer says it earned $261.1mln or 92 cents per diluted share for the 13-week period ended October 29, up from a profit of $201.6mln or 70 cents per diluted share a year earlier.
Source: ctvnews.ca
US: Instacart and Kroger widen SNAP partnership
Instacart announced the expansion of its partnership with The Kroger Co. to enable digital SNAP acceptance at all Kroger, Ralphs, Foods Co, Fry's, Jay C, Pay Less, and Food 4 Less stores on Instacart's platform.
Source: progressivegrocer.com