Thailand: Tesco has had to close 30 to 40 stores after the country was hit by the worst floods in 30 years. The supermarket, which has more than 660 stores in Thailand, said it was working hard to re-open the stores and replenish empty shelves. "We are working around the clock to get deliveries of essential items to our stores despite distribution challenges," Tesco said.
Sweden: Arla Foods has been forced to sell five brands and a facility in Dalarna to secure the acquisition of the dairy co-op Milko. The Swedish competition watchdog approved the deal on condition it sells the dairy along with the Bollnäsfil, Tiger, Bärry, Fjällfil and Fjällyoghurt brands. Farmer numbers in the country have fallen from almost 2,000 to about 650 in the past 11 years.
US: Dr Pepper Snapple Group has reported a 5% rise in quarterly sales thanks largely to higher prices. Total sales rose to $1.53bn in the three months to 30 September and operating profits increased marginally to $261m. The soft drinks maker said packaging and ingredients would increase the cost of sales by 7% to 9% for the full year. "As we continue to operate in challenging times, I remain pleased with the performance of our portfolio," said Dr Pepper Snapple CEO Larry Young.
Sara Lee has continued its break-up with the sale of its North American coffee business for $350m to JM Smucker. The deal comes as Sara Lee presses on with plans to split into two publicly-traded companies - a US foodservice and meat business, and an international beverages business. Four hundred and fifty staff will switch to JM Smucker as part of the latest deal. "In recent years, our North American coffee business has been foodservice-based and largely unbranded, which is a challenge in a highly competitive marketplace," said Sara Lee chairman Jan Bennink.