Hello, dear reader,
More billion-dollar deals are shaping up - in the US, a mammoth acquisition has been announced in the meat industry, and in Europe, luxury empire LVMH takes over the Dior label. Also check out, why some key think artificial intelligence will cause pain, while others look at it as a solution for complex problems. Enjoy the read.
USA & Canada
Expanding into food service
US meat giant Tyson Foods has agreed to acquire Ohio-based sandwich maker AdvancePierre in a US$ 3.2 billion deal, which will broaden its range of prepared foods. This comes on the heel of the company's announcement to explore the sale of three non-protein businesses.
Supermarket chain Supervalu is poised to sell underperforming locations as it concentrates on the integration of recently acquired Unified Grocers. Battling declining sales, apparel retailer J.Crew announced several strategic changes, including cutting 250 jobs.
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In a bid to simplify ownership structures, French multinational empire LVMH, led by billionaire Bernard Arnault, has agreed to take full control of fashion giant Christian Dior in a deal worth around EUR 12.1 billion.
Shake-up at Nestlé
Nearly 300 employees face redundancy following an operational reshuffle in Britain, which will also see production of the iconic Blue Riband wafer bars move to Poland. The Swiss food giant employs more than 8,000 people in the UK.
Asia & Australia
Amazon Fresh in Japan
The US online juggernaut has started its fresh food delivery service in East Asia, allowing customers to receive products in as little as four hours. Japan is the third country where the multinational will offer the service following the US and the UK.
JD.com invests in logistics
China’s second-largest e-commerce company is set to build its own distribution network and has launched a new business group, JD Logistics. Online grocery shopping in China could more than double in growth between now and 2020, according to an IGD survey.
Meet me at Apple
The US tech giant is in the process of revamping the look and feel of its retail outlets across the world in a bid to attract young people to use the stores as meeting places. Many consumers already visit Apple’s roughly 500 stores for reasons other than buying a new device.