Morrisons Agrees To Fortress Investment Group's Raised $9.3 Billion Bid

Reuters | |

British supermarket group Morrisons has agreed to a raised takeover bid worth 6.7 billion pounds ($9.3 billion) from a consortium led by Softbank-owned Fortress Investment Group, it said on Friday.

The new Fortress bid comprises 270 pence per Morrisons share plus a 2 pence a share special dividend.

Aldi Announces New Sustainability Goals for Next Ten Years

Kimberly Redmond | |

Supermarket chain Aldi has unveiled a new series of sustainability goals that seek to curb greenhouse gas emissions, operational waste, packaging materials and food waste.

On Wednesday, the discount grocer, which has more than 2,000 stores across the US, announced key measures it plans to achieve between now and 2030 as part of its larger, ongoing commitment to “protecting the planet’s resources and ecosystems.”

British Supermarket Group Asda Reports Accelerating Growth in Fourth Quarter

Reuters | |

British supermarket group Asda ended its 22 years under Walmart ownership with accelerating underlying sales in the Christmas quarter, driven by strong demand for premium ranges.

Asda, now owned by the Issa brothers and private equity group TDR Capital, on Thursday reported a 5.1% rise in same-store sales over the three months to Dec. 31 - an improvement on third-quarter growth of 2.7%.

Aldi Is Latest Company To Pay Employees Who Get COVID-19 Vaccine

Kimberly Redmond | |

Supermarket chain Aldi has unveiled plans to make sure all of its employees have easy access to the COVID-19 vaccine.

On Tuesday, the discount grocer, which has more than 2,000 stores across the U.S., announced it will provide stipends to motivate employees to get inoculated.

Besides covering vaccination costs, Aldi will give up to four hours of paid time off – two hours per dose of the vaccine – to all hourly workers, while salaried employees will be offered “scheduling flexibility” in order to get vaccinated.

Walmart Sells Most of Seiyu Supermarket Stake to KKR and Rakuten

Reuters | |

U.S retailer Walmart Inc sold most of its stake in Japan's Seiyu to investment firm KKR and e-commerce company Rakuten in a deal valuing the supermarket chain at 172.5 billion yen ($1.65 billion), the companies said.

Walmart first entered the Japanese market in 2002 by buying a 6% stake in Seiyu, and gradually built up its stake before a full takeover in 2008.

Like other foreign entrants lured by the high spending power of Japanese consu...

Walmart Agrees To Sell Asda Supermarket Chain to Investor Group in $8.8 Billion Deal

AP News | |

Retail giant Walmart has agreed to sell its British chain of supermarkets, Asda, to the investors behind an international group of gas stations and food shops in a deal that values the company at 6.8 billion pounds ($8.8 billion).

Brothers Mohsin and Zuber Issa, along with investors TDR Capital will acquire a majority of Asda, while Walmart will retain a minority stake and a seat of the board, the parties said in a joint statement issued Friday. Details of the deal w...

Kroger Beats Quarterly Estimates, Raises Full-Year Guidance

Reuters | |

U.S. supermarket chain Kroger Co said on Friday it expects full-year comparable sales to rise more than 13% after reporting better-than-expected quarterly results, driven by a surge in online grocery sales as customers cooked more at home during the COVID-19 pandemic.

The virus outbreak has led to consumers cooking more meals at home, leading to rising demand for groceries and canned soups, as people work from home and classes a...

Tesco To Add 16,000 Permanent Jobs To Support Growth in Online Sales

Reuters | |

(Reuters) - Britain’s largest supermarket Tesco on Monday said it will create an additional 16,000 permanent jobs to support the exceptional growth in its online business and may even increase the number of roles as the lockdown boosted its sales.

“The supermarket expects the majority of these roles to be filled by colleagues who joined on a temporary basis at the start of the COVID-19 pandemic, but who now want to stay with the business permanently,” the company said.Tesco sa...

Warren Buffett’s Berkshire Hathaway Reveals Kroger and Biogen Positions

Reuters | |

Also disclosed were significantly reduced stakes in Wells Fargo and Goldman Sachs.

Ahold's Quarterly Profit Boosted By US Stores, Online Sales

Reuters | |

3% rise in Q4 core earnings helped by Food Lion and Hannaford grocery chains and strong online sales.

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