PepsiCo reports strong Q1 performance as Deliveroo’s orders more than double

US – US beverage and snack company PepsiCo has reported strong Q1 results with organic net revenues jumping 2.4% and first-quarter net revenues jumping 6.8% to US$14.82 billion. Pepsico’s impressive Q1 performance mainly benefited from accelerated return of the foodservice channel and the acquisitions of Chinese snack company Be & Cheery and South Africa’s Pioneer Foods. This acquisition’s impact could also be reflected in the company’s operating profit stood which jumped 20% to US$2.31 billion, up from US$1.92 billion last year. Division wise, PepsiCo’s Frito-Lay North America unit delivered 3%…

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France latest country to be included in Carrefour’s grocery delivery partnership with Deliveroo

EUROPE – French retail Carrefour has announced that its grocery delivery partnership with Deliveroo will be now expanded to include stores in France. The partnership will enable the French retailer to deliver on-demand groceries in less than 30 minutes to their customers’ homes. The service is already available in Belgium, Italy, and Spain. It will available in Paris with plans for a rollout to 10 other top cities over the coming months. Meanwhile the rollout is picking up speed in Belgium with the extension of the service to Antwerp in…

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UK food delivery giant Deliveroo to float on London Stock Exchange despite making losses

UK – British food delivery firm Deliveroo has announced plans to go public with a possible listing in the London Stock Exchange before the end of April this year. The hotly anticipated IPO is expected to value Deliveroo at more than US$7 billion, based on a private funding round it completed in January. If successful, Deliveroo’s IPO will be one of the largest London listings in several years. The company is planning to go live after recording a 64% surge in business during the COVID-19 pandemic. It has already published…

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Online meal delivery service Deliveroo achieves US$7B valuation following successful series H funding round

UK – British online meal delivery service Deliveroo has achieved a US$7 billion+ valuation following a successful series H funding that saw the company raise more than US$180 million from existing investors. The round was led by Fidelity Management and Research Company, and Durable Capital Partners. Deliveroo says that it will use the funds raised in its latest financing round to continue to invest in the company’s growth and in enhancements to its services for restaurants, riders and consumers. Examples of areas in which the new capital will be used…

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Kellogg’s partners with Deliveroo to launch direct-to-consumer kitchen

UK – The Kellogg Company has launched a direct-to-consumer kitchen in partnership with meal delivery service Deliveroo. The cereal and snacks business has opened the Kellogg’s Kitchen Creations in East London that will be producing meals based on Kellogg’s cereals and snacks, including Coco Pop Bubble Crepes, Crunchy Nut Shake and Nutri-Grain Cheesecake Bar. The company will operate the Kitchen on a six-month trial before launching in Manchester city centre later this year, with potential for further sites in 2020. produces meals that use Kellogg’s breakfast cereals and snacks in…

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Amazon leads US$575m financing round in British delivery firm Deliveroo

UK – British online food delivery firm, Deliveroo has announced that it has raised a total of US$575 million in a Series G funding round led by American online retailer and technology company, Amazon. The funding round, set to make Amazon the largest investor in Deliveroo, also saw participation from existing investors T Rowe Price, Fidelity Management and Research Company, and Greenoaks. With the capital, Deliveroo said it will invest in expanding the company’s tech team at its UK Headquarters, expand further to reach new customers, and continue innovating through…

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