Hints and tips:
US company’s expanding warehouse ambitions puts it head to head with Instacart
...The grocer acquired 350 petrol stations and more than 1,000 food-to-go sites which were previously owned by EG Group. CD&R bought MFG for £500mn nearly a decade ago....
...In fact, said PepsiCo, it had dumped Carrefour last year after failing to reach agreement on pricing, accusing the French grocer of mischaracterising the chain of events....
...NCR provides hardware and software services to keep the grocer’s technology up and running. In the old days, if something broke in a store, someone would drive out to make repairs, he said....
...Instacart took advantage of a jump in demand for home delivery services during the coronavirus pandemic, growing to 7.7mn monthly users and partnering with large US grocers such as Walmart....
...With its takeover of Southeastern Grocers, which owns Winn-Dixie and Harveys, it is moving into more conventional supermarket territory....
...It makes money by charging fees to the grocer and the shopper, and by selling advertising to consumer brands on its platform....
...“When grocers work with us they get economies of scale and better efficiencies,” she said....
...Penny pinching Americans now pack the food aisles at budget-friendly grocers, cutting back on non-essential purchases as a way to beat back persistently high inflation. This is good news for Walmart....
...The big general retailer and grocer provided a lacklustre outlook on Tuesday. Home Depot stood out for being even more pessimistic....
...Instead, they can use their food business to capture market share from smaller “mom-and-pop” independent grocers, drugstores and convenience stores, Tarlowe said....
...The grocer, recently overtaken by Aldi as the UK’s number four by market share, said underlying earnings fell to £177mn in the 13 weeks to July 31, from £356mn in the same period last year....
...It also sold $2.3bn of shares in the second quarter, cutting its stakes in General Motors, US Bancorp and grocer Kroger, and exited its positions in Verizon and Royalty Pharma....
...The brothers said in a statement on Wednesday that they were “putting in place a robust capital structure” for the grocer and were “confident that external investors will share our belief in Asda’s strong...
...It owns the auction house Bonhams and has previously owned Time Inc’s UK operations, whose titles include Woman’s Weekly, Country Life and Horse & Hound....
...Wednesday, which did not mention the company’s plans to list, Simo wrote: “At Instacart, we believe the future of grocery belongs to those that invented it — not tech goliaths or newcomers trying to drive grocers...
...“We are seeing an industry really in the middle of a massive digital transformation, and grocers have a million different challenges that they’re facing,” Simo said....
...CD&R said in September that it would put up £3.4bn of equity towards the £10bn cost of buying the grocer....
...The grocer’s board met on Saturday afternoon and unanimously recommended the revised offer....
...The New York-based group, one of two US private equity firms vying to buy the grocer with a £9.7bn offer, said it would commit extra Morrisons properties to the pension funds as security, giving them a legal...
...TDR Capital involved in the acquisition of supermarket chain Asda in February and Clayton, Dubilier and Rice fighting off competition from SoftBank-backed Fortress to take control of Wm Morrison, another grocer...
...That bid, a substantial increase from its initial 230p approach, has secured a recommendation from the grocer’s directors....
...From the press release: Walmart Inc. (NYSE: WMT), the No. 1 U.S. retailer and world’s largest grocer, is pleased to announce a major partnership with Litecoin....
...The grocer’s directors have already recommended Fortress’s offer. But private equity firm Clayton Dubilier and Rice has been given until August 9 to table a counter offer for the grocer....
...However, Fortress would have a 73 per cent stake in the company buying the grocer, it said....
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