Kohlberg to study Coles' books
Tooronga, Australia: Coles Group has given private equity firm Kohlberg Kravis Roberts exclusive access to its books for due diligence. The firm has reportedly signed a confidentiality agreement with Coles Group allowing it access to internal financial data for two weeks. Coles Group, which put itself up for sale in March, has already attracted interest from Australian conglomerate Wesfarmers, which tabled an A$19.7bn (£8.1bn) bid for the group last month. Last week Tesco reportedly pulled out of the bidding.
Carrefour plans store in Moscow
Paris, France: Carrefour will open its first store in Russia next year. The supermarket chain said it would open a store in western Moscow in the first quarter of 2008 and that a group of managers was already in the city preparing for the launch. It is also reported to be in talks with developers to rent stores in Rostov-on-Don and Krasnodar in the south of Russia. Carrefour announced last year it was planning to enter the Russian market.
US overhaul to hit Ahold margins
Amsterdam, The Netherlands: Ahold has reported a 0.7% decrease in first-quarter sales to €13.2bn (£9bn). Margins would continue to be hit by an overhaul of US stores, Ahold warned in a trading update. Net sales in its US chains Stop & Shop and Giant-Landover fell 6.8% to €3.9bn (£2.6bn) during the quarter.
Syral is sweet on Tate & Lyle division
MARCKOLSHEIM, FRANCE: Sugar manufacturer Tate & Lyle is in advanced discussions to sell part of its European Food & Industrial Ingredients division to Syral, a subsidiary of Tereos of France. The sale, which includes operations in the UK, Belgium, France, Spain and Italy, is reportedly worth between £200m and £220m.
Unilever opens huge depot
Hanoi, Vietnam: Unilever has opened the largest distribution centre in Vietnam. The £6m, 25-acre site opened last week in Vietnam Singapore Industrial Park in Binh Duong province near Ho Chi Minh City. It has the capacity to distribute 2,000 tonnes of goods a day and will ship products to 19 countries. It had been built to consolidate the company's network of distribution centres in the country and would employ 1,000 workers, Unilever said.
Wal-Mart revamps electronics offer
Bentonville, Arkansas: Wal-Mart has revamped and expanded its electronics offering. Working with suppliers, the retailer has added new products to the range and increased its offer of products such as HD televisions, home theatre systems and digital cameras. The company said it would aim to offer focused customer service and better communication. "Our improvements to the in-store experience reflect our customers' need to have the electronics shopping decision simplified," said Greg Hall, senior director of marketing. "For our customer, that means quality brands in an easier shopping environment."
Tooronga, Australia: Coles Group has given private equity firm Kohlberg Kravis Roberts exclusive access to its books for due diligence. The firm has reportedly signed a confidentiality agreement with Coles Group allowing it access to internal financial data for two weeks. Coles Group, which put itself up for sale in March, has already attracted interest from Australian conglomerate Wesfarmers, which tabled an A$19.7bn (£8.1bn) bid for the group last month. Last week Tesco reportedly pulled out of the bidding.
Carrefour plans store in Moscow
Paris, France: Carrefour will open its first store in Russia next year. The supermarket chain said it would open a store in western Moscow in the first quarter of 2008 and that a group of managers was already in the city preparing for the launch. It is also reported to be in talks with developers to rent stores in Rostov-on-Don and Krasnodar in the south of Russia. Carrefour announced last year it was planning to enter the Russian market.
US overhaul to hit Ahold margins
Amsterdam, The Netherlands: Ahold has reported a 0.7% decrease in first-quarter sales to €13.2bn (£9bn). Margins would continue to be hit by an overhaul of US stores, Ahold warned in a trading update. Net sales in its US chains Stop & Shop and Giant-Landover fell 6.8% to €3.9bn (£2.6bn) during the quarter.
Syral is sweet on Tate & Lyle division
MARCKOLSHEIM, FRANCE: Sugar manufacturer Tate & Lyle is in advanced discussions to sell part of its European Food & Industrial Ingredients division to Syral, a subsidiary of Tereos of France. The sale, which includes operations in the UK, Belgium, France, Spain and Italy, is reportedly worth between £200m and £220m.
Unilever opens huge depot
Hanoi, Vietnam: Unilever has opened the largest distribution centre in Vietnam. The £6m, 25-acre site opened last week in Vietnam Singapore Industrial Park in Binh Duong province near Ho Chi Minh City. It has the capacity to distribute 2,000 tonnes of goods a day and will ship products to 19 countries. It had been built to consolidate the company's network of distribution centres in the country and would employ 1,000 workers, Unilever said.
Wal-Mart revamps electronics offer
Bentonville, Arkansas: Wal-Mart has revamped and expanded its electronics offering. Working with suppliers, the retailer has added new products to the range and increased its offer of products such as HD televisions, home theatre systems and digital cameras. The company said it would aim to offer focused customer service and better communication. "Our improvements to the in-store experience reflect our customers' need to have the electronics shopping decision simplified," said Greg Hall, senior director of marketing. "For our customer, that means quality brands in an easier shopping environment."
No comments yet