Buy-out for Shoprite
BRACKENFELL, WESTERN CAPE: South African supermarket chain Shoprite has accepted a buy-out offer of ZAR13.2bn (£940m) from private equity firm Brait Private Equity. The deal involves restructuring the company and terminating its listing on the Johannesburg Securities Exchange. "It has become imperative to find mechanisms enabling management to achieve a greater involvement in the financial fortunes of the business," said Christo Wiese, chairman of Shoprite.
Albertsons deal for Save Mart
MODESTO, CALIFORNIA: Save Mart Supermarkets has acquired the northern California division of Albertsons for an undisclosed sum. The deal includes 132 Albertsons stores, two distribution centres and an office, and more than doubles the size of Save Mart. Save Mart is planning to begin operating the stores by the end of February.
Aussies fret over misleading labels
CANBERRA: The Australian Competition and Consumer Commission has called for food and drink manufacturers to curb the use of potentially misleading labels. It has launched food descriptor guidelines to help businesses understand what is considered acceptable and unacceptable labelling under competition and consumer protection laws. "The ACCC is concerned by the apparent upswing in terms such as organic and free range where business seeks to take advantage of strong consumer demand," said John Martin, ACCC commissioner.
Aldi looks to Eastern Europe
ESSEN: German discounter Aldi plans to enter the Slovakian and Hungarian markets. Its subsidiary Hofer is set to invest SKK180m (£3.4m) in a distribution and logistics centre in the Trnava region of Slovakia and stores could open by 2009. It also plans to open 20 stores under the Hofer fascia in Hungary by 2008.
Carlsberg to expand globally
COPENHAGEN: Carlsberg plans to expand in Asia, Russia and western Europe over the next two years, according to chief executive Nils Smedegaard Andersen. "Investment will increase significantly compared with the level we see today," he said. He also expected China to become an increasingly important market in the next five years.
Metcash profit soars
SILVERWATER: Australian supermarket distributor Metcash's half-year pre-tax profit rose 47% to AU$140m (£56.2m) on total sales up 37% at AU$4.8bn. Wholesale sales increased 34% to AU$4.6bn. Performance was boosted by strong sales and the acquisition of Foodland's grocery business last year.
Gerber heads for Nestlé
ZURICH: Novartis looks set to sell its babyfood company Gerber to Nestlé. The pharmaceutical company is already selling its medical nutrition business to Nestlé and could be prepared to include Gerber in the deal. Novartis "probably would act opportunistically" if it received an offer for Gerber, said Novartis CEO Daniel Vasella.
BRACKENFELL, WESTERN CAPE: South African supermarket chain Shoprite has accepted a buy-out offer of ZAR13.2bn (£940m) from private equity firm Brait Private Equity. The deal involves restructuring the company and terminating its listing on the Johannesburg Securities Exchange. "It has become imperative to find mechanisms enabling management to achieve a greater involvement in the financial fortunes of the business," said Christo Wiese, chairman of Shoprite.
Albertsons deal for Save Mart
MODESTO, CALIFORNIA: Save Mart Supermarkets has acquired the northern California division of Albertsons for an undisclosed sum. The deal includes 132 Albertsons stores, two distribution centres and an office, and more than doubles the size of Save Mart. Save Mart is planning to begin operating the stores by the end of February.
Aussies fret over misleading labels
CANBERRA: The Australian Competition and Consumer Commission has called for food and drink manufacturers to curb the use of potentially misleading labels. It has launched food descriptor guidelines to help businesses understand what is considered acceptable and unacceptable labelling under competition and consumer protection laws. "The ACCC is concerned by the apparent upswing in terms such as organic and free range where business seeks to take advantage of strong consumer demand," said John Martin, ACCC commissioner.
Aldi looks to Eastern Europe
ESSEN: German discounter Aldi plans to enter the Slovakian and Hungarian markets. Its subsidiary Hofer is set to invest SKK180m (£3.4m) in a distribution and logistics centre in the Trnava region of Slovakia and stores could open by 2009. It also plans to open 20 stores under the Hofer fascia in Hungary by 2008.
Carlsberg to expand globally
COPENHAGEN: Carlsberg plans to expand in Asia, Russia and western Europe over the next two years, according to chief executive Nils Smedegaard Andersen. "Investment will increase significantly compared with the level we see today," he said. He also expected China to become an increasingly important market in the next five years.
Metcash profit soars
SILVERWATER: Australian supermarket distributor Metcash's half-year pre-tax profit rose 47% to AU$140m (£56.2m) on total sales up 37% at AU$4.8bn. Wholesale sales increased 34% to AU$4.6bn. Performance was boosted by strong sales and the acquisition of Foodland's grocery business last year.
Gerber heads for Nestlé
ZURICH: Novartis looks set to sell its babyfood company Gerber to Nestlé. The pharmaceutical company is already selling its medical nutrition business to Nestlé and could be prepared to include Gerber in the deal. Novartis "probably would act opportunistically" if it received an offer for Gerber, said Novartis CEO Daniel Vasella.
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