eBay launches new seller tool with personalized analytics & better customer experience

Deals
BEL receives orders worth USD 397.7 Mn
Bharat Electronics Limited has secured orders worth USD 397.7 million for defense and non-defense products, including radar systems and communication equipment. Additionally, BEL received a USD 130 million order from Hindustan Shipyards for supplying systems to Fleet Support Ships. Read More>>
CyberLogitec signed a contract for ALLEGRO with Japanese shipping liner Kambara Kisen
The contract will bring forth four cutting-edge maritime solutions, including ALLEGRO, to optimize shipping operations and data integration by March 2024. Read More>>
Arla Foods subsidiary signs distribution agreement in China
Arla Foods Ingredients has entered a new distribution agreement with Zhongbai Xingye Food Technology in China. The company aims to enhance its presence in infant nutrition, performance nutrition, and food and beverage segments. Read More>>

Partnerships
PacSun has partnered with Manhattan Associates Technology for a POS solution
PacSun joins forces with Manhattan Associates, integrating its cutting-edge Pos solution to enhance the seamless in-store and online shopping experience. It aims to reinforce its position as a unified commerce leader and catering to Gen Z and Millennial shoppers. Read More>>
Inchcape signs joint venture deal to distribute Changan cars in PH
Inchcape Philippines partners with Changan International Corp. to exclusively distribute Changan vehicles in the Philippines. This joint venture leverages Changan’s strengths in R&D and products. Read More>>
Kerry Group partners with Unigrain on Dairy Alternatives
Kerry Group partners with Australian producer Unigrain for plant-based dairy alternatives, aiming to boost growth in the Asia Pacific region. Read More>>

Centre Setup and Expansion 
Kemin Industries establishes the Verona, Missouri, Protein Manufacturing Center
Kemin Industries establishes a USD 70 million Proteus functional proteins manufacturing facility in Verona, Missouri, set to create 30 jobs. The 38,000-square-foot site will enhance meat and poultry product quality and yield, catering to the food industry’s demand for clean-label solutions. Read More>>
Ferrero to expand ice cream facility
Ferrero Wells Enterprises plans to expand its Dunkirk, NY, ice cream manufacturing facility. The expansion will add over 200 jobs and double production output in supporting growth in novelty and packaged ice cream. Read More>>

Mergers and Acquisitions
Ace Hardware Company acquires Moncrief Heating & Air Conditioning
Ace Hardware acquires one of Atlanta’s oldest HVAC companies, offering an expanded range of services and products while preserving family management. Read More>>

Executive Movements
Revlon appoints new CFO, announces other key executive hires
Revlon appoints Ted McCormick as CFO, Geralyn Breig as President of North America, and Will Cornock as Chief Strategy and Transformation Officer as part of its business transformation strategy after emerging from financial restructuring. Read More>>
Norway’s Tine appoints Ann-Beth Freuchen as New CEO
Tine, the Norwegian dairy cooperative, has appointed Ann-Beth Freuchen as its new CEO, effective October 1, 2023. Ann-Beth has over 25 years of management experience, including roles at Orkla. Read More>>

Layoff
CVS Health announces nationwide layoffs, Connecticut to be one of the Hardest Hit States
CVS Health, a prominent U.S. pharmacy chain, plans to cut 5,000 jobs nationwide to reduce costs and focus on healthcare offerings, with 500 layoffs in Hartford. Read More>>

Strengths:

• Brands boast a diverse product portfolio that includes both traditional tobacco products and emerging alternatives like e-cigarettes and heated tobacco, enabling the company to cater to a wide range of consumer preferences.  
• Imperial Brands’ keen commitment to innovation is evident through the development and launch of new products like Pulze heated tobacco and nicotine pouches, demonstrating its agility in adapting to changing consumer demands.  
• Imperial Brands focuses on a significant market presence in key regions such as the United States, United Kingdom, Germany, Spain, and Australia. Imperial Brands benefits from a broad customer base and established distribution channels.

Weaknesses:

• The rise of e-cigarettes and other smokeless tobacco alternatives could pose a threat to Imperial Brands’ traditional tobacco business. 
• The tobacco industry is heavily regulated, and changing regulations related to advertising, packaging, and health warnings could impact Imperial Brands’ operations and market share. 
• Failure to maintain the security of sensitive personal information or other confidential information in possession could be subject to litigation or regulatory enforcement action, cause reputational harm, or have a material adverse impact on business and financial condition.  
• Imperial Brands may be vulnerable to economic and regulatory changes in its key markets, including the United States and Europe.

Key Funding Alert

Coca-Cola to invest an additional USD 78 Mn in India
Coca-Cola will inject an additional USD 78 million into the under-construction greenfield facility in Banda Thimmapur, Siddipet. The investment will enable new production lines and reflects Coca-Cola’s commitment to India as its third-largest global market. Read More>>

Startup Spotlight

Company –  Wearisma 
Total Funding – USD 4.44 Mn
About: Wearisma is a premium influencer marketing solution for brands, agencies & influencers. It gives brands the power to discover the right influencers who tell the most authentic stories and the platform to measure that impact over time. Read More>>

Here’s what’s new on our Sales Intelligence Platform
Introducing personalized Braindesk landing page

• Experience the new personalized BrainDesk landing page
• Now you can easily filter courses in Reskilling based on difficulty levels to prepare a personalized learning plan
• Introducing a breakdown of IT spending by category, along with a forecast in Financials, enabling you to understand target account expenditure