South Korea: Tesco finalises agreement for HomePlus stores
Supermarket chain Tesco will raise over GBP 355m ($US586m) through a sale-and-leaseback agreement for a number of its HomePlus stores in South Korea, Just Food reports. Tesco has confirmed completion of the deal which will see four HomePlus stores sold to real estate agency Samsung SRA and then leased back to the retailer. HomePlus.Co is […]
Australia: Goodman Fielder to sell biscuits business to Green’s Food
Goodman Fielder is to sell its biscuits business to Green’s Food Holding for AUS$ 17m (US$ 15.2m), Just Food reports. Goodman Fielder has also recently sold off other assets as part of a move to optimise its product and brand range. Commenting on the sale, CEO Chris Delaney of Gooodman Fielder stated: “It allows us […]
Australia: Bidding war over Warrnambool enters new phase
Canadian company Saputo will now face only rival Murray Gouldburn to acquire Australia’s oldest diary processor Warrnambool after Bega Cheese withdrew its bid, according to Canadian Manufacturing. Bega Cheese had launched a fierce bidding war over the acquisition of Warrnambool in September. However its share offer has thus far attracted less than 1% of shareholders. […]
Japan: Japan Tobacco invests in Russian distributor
Japan Tobacco has bought a stake in Russian tobacco distributor Megapolis. The 20% stake was reportedly acquired for more than $750 million, with another $100 million tied to Megapolis’s “operational performance”. The investment by Japan Tobacco is designed to enable it to further penetrate the Russian tobacco market, the second biggest in the world behind […]
China: Red Bull primed for launch
Energy drinks manufacturer Red Bull is planning to release Red Bull in China after recently gaining the necessary permissions to launch. Red Bull – the leading global energy drinks brand – could soon be on shelves in China after the Austrian manufacturer finally gained approval for launch. Reports state the process has been a lengthy […]
India: Tesco bids to create multi brand outlets through Trent stake
Tesco has announced plans to run multi brand outlets in India by investing in local operator Trent Hypermarket. Tesco is hoping to take a 50% stake in Trent Hypermarket Limited, which is a subsidiary of conglomerate Tata Group. Tesco’s plans have been submitted to India’s Foreign Investment Promotion Board. The investment would see a step-up […]
New Zealand: Beak NZ launches “healthy” meat line for children
Beak New Zealand has recently announced a range of processed meat products targeted at health-conscious parents. The range includes a tomato sauce flavoured sausage as well as meatballs and burgers and is designed to appeal to both youngsters and their parents. The products contain herbs, spices and premium beef or chicken and are claimed to […]
China: Tingyi set for new spate of acquisitions in 2014
Tingyi, one of China’s largest food and drinks manufacturers, is looking to further develop its portfolio, according to Bloomberg. Tingyi already has alliances with PepsiCo and Asahi Group and is looking to add to these deals in 2014. The company is contemplating a new strategic alliance considering both domestic and overseas brands for deals and […]
Far East: E-commerce continues to grow
The number of online shoppers is continuing to grow in China, Taiwan and Korea, creating many opportunities for FMCG brands, a recent report has concluded. In South Korea, e-commerce is now the third largest retail channel in FMCG, with 9% market share. In China and Taiwan, the market share stands at 1.8% and 3.2% respectively, […]
New Zealand: Fonterra may face legal action from Danone
Dairy exporter Fonterra may face legal action from Danone over the recall of infant formula that the former claimed contained a potentially harmful ingredient. Danone aims to claim back compensation for what it says was a €350 million ($476 million) loss in sales following the recall of products in New Zealand and Australia. Negotiations started […]