Thailand: Tesco has started pre-marketing for an initial public share offer that is thought to be Thailand’s biggest in five years. Tesco wants to float its Tesco Lotus Property Fund to raise $500m to “invest in further innovation and growth”. The fund will initially include 15 shopping centres anchored by Tesco Lotus stores. A listing is expected by mid-March.
United States: Walmart has unveiled a new healthy eating logo - Great For You - that will appear on fruit & veg and selected Walmart Great Value and Marketside items and will also be made available to brands. Any item it appeared on would have to meet rigorous nutrition criteria, the retailer said. “The icon provides customers with an easy way to quickly identify healthier food choices,” added Andrea Thomas, senior VP of sustainability.
Romania: German discounter Lidl has set its sights on opening 66 stores across Romania this year. The figure would take the discounter’s portfolio of stores in the country to 200 and is three times the number it opened in Romania in 2011. Lidl is particularly interested in opening stores in towns and cities with a population of less than 50,000.
United States: SAB Miller and Molson Coors have teamed up to buy Crispin Cider Co. The acquisition of the third-largest cider maker in the US comes via the brewing giants’ joint venture, MillerCoors, and includes Crispin’s pear cider subsidiary, Fox Barrel Cider Co. Both brands will be overseen by MillerCoors’ craft beers and imports arm, Tenth and Blake. “Our vision is to accelerate our portfolio expansion within the world’s most exciting beer market,” said Tenth and Blake CEO Tom Cardella.
India: Radico Khaitan, India’s second-largest distiller, has reported a 16% increase in net sales to INR11.54bn for the nine months to the end of December, driven by its premium brands After Dark whisky and Morpheus brandy. Profits rose by 7% to INR592m during the period. “This reflects the ongoing success of our premiumisation strategy,” said chairman and MD Dr Lalit Khaitan.
Canada: Meat packer and baker Maple Leaf Foods is to close its poultry plant in Ayr, Ontario, in May this year, with the loss of 100 jobs. Production will be moved to its Brantford and Mississauga sites, which will get a $6.5m investment. “We have an immediate opportunity to increase efficiency and capacity in our value-added poultry business, which this consolidation will achieve,” said president and CEO Michael McCain. “Value-added chicken is an important market for us.”