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While snack maker Mondelēz has abandoned plans to buy chocolate company Hershey, Canada's Couche-Tard expands its US footprint with the acquisition of more stores and Walgreens forms a partnership with Prime Therapeutics. Amazon continues to open physical outlets in the US, and Carrefour expands with its 'Gourmet' format in Poland. Enjoy the read and don't forget to share.
asia & australia
Happyfresh aims for profit The Jakarta-based grocery on-demand service, which partners with Tesco and Carrefour, announced that it will concentrate on Indonesia, Malaysia and Thailand, after exiting Taiwan and the Philippines. The company raised over US$ 12 million in its latest fundraising.
Foodpanda stays in India The food delivery start-up backed by Rocket Internet, is set to raise fresh capital and has mandated a Mumbai-based investment bank for the process. While the company is rethinking its presence across Southeast Asia, it will stay in India, according to its Indian CEO, Saurabh Kochar.
Jumbo grows organically The second largest retailer in the Netherlands has seen a sales increase of 13% in the first half of the year. As part of a EUR 125 million investment, Jumbo has renovated 30 of its stores, extended its home delivery service and opened 100 new 'Pick up Points'.
usa & canada
Mondelēz ends merger talks The Illinois-based multinational snack maker announced it has ended discussions to buy chocolate company Hershey, claiming “there is no actionable path forward toward an agreement”. The acquisition would have created a global powerhouse selling some of the world’s best known chocolates and snacks.
Amazon experiments The online mega retailer, known for its strenuous work culture, is testing a programme to trial a 30-hour workweek at reduced pay for select employees — but with full benefits. In other news, Amazon announced it will open its fourth physical store in Chicago.
Uchumi farewells managers In a bid to cut down costs, the struggling and cash-strapped Kenyan supermarket chain said goodbye to 16 of its top managers after asking them to volunteer for early retirement. The move was widely criticised on social media.