Woolies pursued IPO despite Caltex deal
Supermarket giant Woolworths has announced its still eyeing exiting the petrol business even after signing the 15-year fuel supply deal with Caltex Australia. Woolies’ and Caltex deal involves starting a wholesale food supply to over 700 existing petrol convenience sites.
Metcash urged to sign on to Food and Grocery Code of Conduct
IGA supplier Metcash was pressured to sign on to the Food and Grocery Code of Conduct, which was carried out by Graeme Samuel, previous head of the Australian Competition and Consumer Commision.
The code includes complaints on how supermarkets and wholesalers deal with their suppliers. Australia’s leading groceries, Woolworths, Coles and Aldi, have already signed except for Metcash. The recently released draft has mentioned the supplier and other industry players that refused to join the voluntary code.
Tesco, Carrefour partnered to cut down grocery prices
Britain’s largest supermarket chain Tesco and French grocery giant Carrefour have joined forces in a bid to cut product prices.
Tesco said the alliance will be governed by a three-year operational framework and will enable both companies to improve the quality and choice of products.
Exciting supermarket news in the UK!
Beef over NZ airline’s Impossible Foods vegan burger
Air New Zealand this week announced it will be serving food tech startup’s Impossible Foods’ plant-based burger to business customers flying from Los Angeles to Auckland.
However, politicians and industry lobby groups questioned why a taxpayer-owned company was endorsing an American product over homegrown meat.
Penfolds to create more wines in the US Napa Valley
Winemaker Penfolds has decided to produce wines for the first time abroad, creating bottles of shiraz and cabernet sauvignon in California’s famous Napa Valley.
Treasury Wine Estates deputy chief marketing officer Angus Lilley said Penfolds winemakers will craft wines consistent with the label’s characteristics and flavour profile using the company’s existing facilities in the Napa Valley, beginning from the California 2018 harvest later this year.
The company is aiming to release the Napa Valley wines by financial year 2022. We are looking forward to this!
Amazon latest acquisition puts pharmacy sector on notice
E-commerce giant Amazon has announced a definitive merger agreement to acquire PillPack for an undisclosed sum. The latest move is expected to impact on established pharmacy retailers including CVS, Walgreens and RiteAid, as their stocks plunge following the announcement on Thursday. The startup reported over US$100 million in revenue in 2017 and has raised US$118 million in funding from investors, including US pharmacy giant CVS and Menlo Ventures.
That’s it for now. We’ll be back again on Monday morning to deliver fresh news for the FMCG sector. Have a good weekend!