Hello, dear reader!
Mergers and acquisitions continue to keep potential business partners busy these days. Consumer watchdogs are on alert in Britain and Australia, determined to send million-dollar fines to top retailers. Spain's largest beer producer ponders about US craft beer and insiders speculate why it does not make sense for Amazon to open physical stores. Enjoy the read and have a great weekend.
Asia & australia
Alibaba expands in India After investing in Paytm and Snapdeal, the Chinese online powerhouse is reportedly set to buy a stake in Flipkart. The deal might depend on the willingness of India's largest internet firm to offer a discount on its current valuation of US$ 15 billion +++ Meanwhile, net loss for Indian online grocer Bigbasket has trebled last year.
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Shake-up at Dick Smith The troubled electronics retailer is shedding 22 jobs, including that of chief financial officer Michael Potts, as part of a restructure by the receiver. The company is also accused of having underpaid its workers for as long as six years.
Buy-outs and other purchases Swiss food giant Nestlé has agreed to buy out minority shareholders in Osem Investment, one of Israel's largest food producers, for about US$ 840 million, increasing foreign ownership of a leading Israeli company +++ Over in Britain, the Cooperative Group acquired 15 Budgens convenience stores from Booker for an undisclosed sum.
Tesco ordered to pay The British retailer has been handed a GBP 1 million bill to pay to the office of the UK’s grocery code adjudicator (GCA) to cover the expense of assessing the retailer’s supply chain. In other news, Tesco plans to roll out item-level radio-frequency identification technology (RFID) to its clothing range (paywall).
usa & canada
Toying with the idea of merging Two of the world’s biggest toymakers, US companies Hasbro and Mattel, are reportedly considering a possible merger. The companies, which would have a combined market capitalisation of US$ 20 billion, have been in on-and-off-again talks since late last year. Both firms declined to comment.
Pharmacy makeovers CVS Health, which has acquired the pharma business of Target for US$ 1.9 billion last year, has started to put its branding on the pharmacies inside 1,672 US Target stores +++ Supermarket company Publix and drug wholesaler AmerisourceBergen announced a long-term drug and healthcare products distribution agreement.
Walmart wants petrol stations back After a 20-year partnership with fellow Arkansas-based company Murphy USA, the retailer giant has decided it wants to pump its own gasoline. Walmart-staff will work the pumps and the company will pick up additional purchases.
worthwile weekend reads
American craft beer for Europe Jonathan Stordy is Marketing Director of Grupo Mahou-San Miguel, Spain's largest beer maker. In an interview with Lebensmittel Zeitung he talks about expansion plans, a possible bid for Grolsch and Peroni and why the European market is ready for US-craft beer. German Retail Blog reports.