Hello, dear reader!
French vegetable leader Bonduelle will expand its access to the US market by acquiring a Californian food producer. Get also informed about the latest results from heavyweights such as consumer goods major Henkel, Israel's Shufersal and Portugal's Jerónimo Martin. Across the Atlantic, Hudson's Bay, Kohl's and Loblaw are reporting numbers. Enjoy the read and have a relaxing weekend.
Europe & Israel
France-based global giant Bonduelle has agreed to acquire California-based Ready Pac Foods, a producer of fresh meals. Over in Germany, Rocket Internet might have to overhaul its business model after Swedish investor Kinnevik halved its stakes in the company causing a double-digit drop in shares.
USA & Canada
Africa & Asia
The Indian e-commerce retailer has announced it will cut 600 jobs in the hope of turning to profitability in a market which is increasingly dominated by rivals Amazon and Flipkart. The company currently employs around 8,000 people.
Online opportunities in Singapore
As shopper habits are changing rapidly, the online grocery market in the South East Asian city will grow by more than triple by 2020, according to research firm IGD, which at the end of 2016 valued the online grocery market in Singapore to be worth US$ 130 million.
Caring for the environment
While Britain's Sainsbury’s has become the first UK retailer to publicly commit to the removal of ‘100%’ of plastics in its cotton buds, competitor Tesco has signed up to become official supermarket sponsor of the ‘Waste Not Want Not’ campaign, launched by magazine The Grocer.
French retailer Carrefour continues to improve food quality by implementing additional organic farming and high-welfare practices in its supply chains. The company is ‘experimenting’ with the elimination of all chemical pesticides on fresh produce.