Tag: Retail

Carrefour to acquire Walmart’s Grupo Big to strengthen retail presence in Brazil

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BRAZIL – French retail giant, Carrefour has agreed to purchase Brazil’s third biggest food retailer Grupo Big from Walmart and investment firm Advent International in an effort to strengthen its presence in the South American country.  The deal which is reported to value the company at 7 billion reais (about US$1.25 billion) will expand the Carrefour’s footprint in regions where it has limited penetration such as the northeast and south of the country. By combining the groups, the retailer claims it will be able to offer a broader range of…

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Tuskys appoints its CFO Chadwick Okumu to be company’s interim Chief Executive Officer

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KENYA – The struggling retailer, Tuskys Supermarket has appointed its chief financial officer (CFO) Chadwick Okumu as its interim Chief Executive Officer following the departure of Dan Githua last year. Prior to joining Tuskys, Okumu was Chief Financial Officer of Uchumi Supermarket for eight years and has worked in various finance capacities at Reckitt Benchiser and Keroche Breweries. “Mr Chadwick Okumu is the acting Chief Executive at Tuskys. The process of appointing a substantive boss has taken long because getting the right person for the job is not easy,” the…

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Uganda welcomes second Carrefour store as the retailer continues with expansion plans in East Africa

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UGANDA – Dubai-based conglomerate Majid Al Futtaim (MAF) and the regional franchise holder of Carrefour has opened its second store in Uganda. Launch of the new outlet located at Metroplex Shopping Mall in Kampala, follows one-year anniversary celebration of Carrefour’s inaugural hypermarket in the country, located in Oasis Mall that opened its doors in February 2020. With the new shop, Carrefour has taken up space previously occupied by collapsed Nakumatt Holdings and Shoprite, reports The East African. Spanning over 2,050 square meters, the branch seeks to offer unrivalled choice of…

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Shoprite soars above COVID-19 hiccups reporting 4.7% rise in half year sales, banking on home market

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SOUTH AFRICA – South African retailer Shoprite has eased Africa push to focus on domestic market gains with the supermarket chain owner revealing that it closed the last of its Kenyan stores in February 2021 and terms of sale of 100% stake in its Retail Supermarkets Nigeria Ltd subsidiary have been concluded. This was indicated in the group’s half year results for the period ended December 2020, highlighting that the transaction has been lodged with the Nigerian Federal Competition and Consumer Protection Commission (FCCPC) for approval. Management expects the transaction…

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Walmart’s Massmart to review operations outside Southern African region, offloads non-core businesses

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SOUTH AFRICA – Massmart, Walmart owned South African retailer with presence in 13 countries in Africa has indicated that it will be reviewing its operations outside the Southern African region in the second quarter of 2021, as part of its turnaround plan. This is in addition to its plan of offloading its food retail outlets Cambridge Food, Rhino and Masscash comprising The Fruitspot and a meat processing facility to focus on high returning businesses. To this end the retailer has appointed Barclays to facilitate the disposal of the non-core businesses,…

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Shoprite collaborates with South African wine farmers to launch new private label wine brand, rescuing ailing industry

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SOUTH AFRICA – Leading African retailer, Shoprite has once again come to the rescue of South Africa’s wine industry with the introduction of a new exclusive private label wine brand known as Elephant’s Cousin. The new wines with unique flavour profiles and easy drinkability i.e., a sauvignon blanc, merlot and shiraz, will be widely available in Shoprites and Checker’s LiquorShops. Much like the supermarket’s popular Odd Bins range, the exact origin of the wine is kept secret to ensure it remains both affordable and accessible. Shoprite has indicated that the…

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American retail chain Target bolsters grocery division with new brand centered on snacks and sweet treats

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 US – Target, a leading American retail chain, has launched a new grocery brand as parts of efforts to give its stores a brand refresh, make them more attractive to customers, and generate higher sale returns. Dubbed Favorite Day, the new grocery brand will be comprised of a private label food and beverage line centred on snacks and sweet treats. FoodDive reports that the brand will roll out with more than 700 products across multiple categories, including candy, trail mix, ice cream, bakery and beverage mixers. Some of the selections…

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British Grocer Tesco to increase healthier products sales proportion to boost nation’s health

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US – British multinational grocer Tesco has joined campaign to boost the nation’s health with a new target to increase the proportion of sales from healthier products in the UK to 65 percent by 2025. The UK Department defines healthier products as those food and non-alcoholic drink products not identified as ‘high in fat, sugar and salt (HFSS)’. This is the definition that the British grocer is going by in determining which products will be given prominence in its store across the UK. Food Ingredients First reported that Tesco’s move…

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Shoprite furthers commitment to use sustainable energy, installs solar pv projects

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SOUTH AFRICA – Shoprite, Africa’s largest retailer has inked an agreement which will see the group procure 434 000 MWh of renewable energy per year for the next seven years, a first of its kind in Africa by any retailer. Further to that, the supermarket chain owner has made strides in reducing green-gas emissions by installing rooftop photovoltaic panels at 19 sites in South Africa and Namibia, generating 12 300 MWh of electricity – a year. Its largest installation is at its Basson distribution centre in Brackenfell, South Africa, covering…

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Tsuneo Okubo to take charge of Seiyu as Investment firm KKR becomes majority shareholder

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JAPAN – Seiyu’s shareholders confirmed the appointment of Mr. Tsuneo Okubo as CEO even as the Japanese retail chain confirms change of ownership structure. According to a statement from Seiyu, leading global investment firm KKR will now become the majority shareholder in Seiyu after completing the process of acquiring shares of the Japanese supermarket from American retail chain Walmart. With the completion of the transactions, KKR now owns a 65% stake in Seiyu while Japanese technology company Rakuten will control a 20% stake in the chain. The US retail giant…

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