Kellog UK sets up an innovation center to ramp up offers with design and production units

Key Signals in Retail and Consumer Goods

Centre setup and Expansion
WinCo to construct 84,000-square-foot grocery store at Centralia station 
WinCo entered a real estate contract with the Port of Centralia to construct the grocery store. The project will be located off the Alder Street and Yew Street intersection in Park 3. The Yew Street Extension project is the first step to completing the Port’s third park, Centralia Station. Read More>>
Kellogg UK opens innovation center 
Kellog opened the new Culinary and Sensory Centre based at the company’s Trafford Park factory near the Manchester headquarters. The food innovation center has taken more than 18 months to complete and includes a packaging design lab, a culinary kitchen, a sensory hub, and a small-scale cereal factory. Read More>>
Dealz-Poundland retail owner opens 350 new stores across Europe 
The company announced that it would open 350 new stores across Europe in the current financial year as it seeks to prosper during the cost-of-living crisis. It has 3,975 stores across Europe, with many outlets in Poland, where it trades under the Pepco name. Read More>>
Merger and Acquisition
Medford Cooperative acquires Tomahawk Ace Hardware 
Medford Cooperative acquired Tomahawk Ace Hardware, 986 N. 4th St., Tomahawk. The acquisition of Tomahawk Ace Hardware will enable Medford Cooperative to provide increased service to members while expanding the benefits of Medford Cooperative membership to the Tomahawk community. Read More>>
FEMSA acquires Valora for USD 1.15 Bn 
FEMSA completed the acquisition of Valora as part of its growth strategy in Europe and marking the beginning of their joint future. They look forward to further expanding Valora’s successful strategy with the continued support of the management team. Read More>>
Dorman Products, Inc. completes the acquisition of SuperATV 
Dorman acquired Super ATV, LLC for USD 490 Mn in cash at closing, plus an earn-out of up to USD 100 Mn in the aggregate payable over two years, subject to certain performance targets being achieved in 2023 and 2024. The closing payment is subject to customary purchase price adjustments. Read More>>
Executive Movement
Wilko appointed David Hennessy as IT director 
Hennessy was previously chief technology officer at the online health and wellbeing group Atida. David has a wealth of business technology experience. He is looking forward to using his skills and knowledge as the brand continues to develop and undergo its transformative, omnichannel journey, of which IT is a cornerstone. Read More>>
Beyond Meat Inc says Global Chief Growth Officer and President of North America, Deanna Jurgens, will leave 
Beyond Meat announced that the Role of Global Chief Growth Officer and President of North America has been eliminated. Over the next 12 Months, reduction in force and elimination of some open positions changes to leadership are expected to result in about USD 27 Mn in cash operating expense savings. Read More>>
Coca-Cola Femsa announces that its CEO will resign and be replaced by Ian Craig Garcia 
The company’s CEO, John Santa María Otazua, will retire on January 1, 2023, and consequently, the Board of Directors has appointed the company’s current CEO in Brazil, Ian Craig García. Otazua has had a 27-year career at Coca-Cola Femsa, holding various key roles as the company has evolved and grown. Read More>>
Hormel Foods appoints Katie Larson as Senior Vice President of Human Resources 
The company announced the appointment of Katie Larson as senior vice president of human resources. Larson assumes responsibility for leading the company’s global human resources function, bringing over 20 years of experience in human resources leadership at Hormel Foods. Read More>>
IKEA lays off 10,000 workers during its exit from Russia, with more job losses to come 
IKEA is cutting around 10,000 staff out of the 12,000 retail employees in Ikea’s Russian stores. Meanwhile, the company posted a 6% rise in full-year sales on October 13, in what it described as a “challenging” year due to inflation, and is scaling back in Russia. Read More>>
Beyond Meat announces layoffs and cuts revenue forecast as inflation hits demand 
Beyond Meat will cut 200 jobs, slashing its annual revenue forecast for the second time, citing slowing demand for faux meat as consumers look for cheaper options to beat rising prices. Shares fell more than 10% before the bell, with the company saying the rising competition was another reason for the forecast cut. Read More>>

Latest Industry Insights from Draup Braindesk

  1. StubHub is keen to enhance the experience of the live events industry by using AI and ML technologies to create transparency, security, and choice for secondary ticket buyers. 
  2. StubHub focuses on committed to continually innovating to enhance the fan experience and bring this new and first-of-its-kind industry opportunity to its customers. 
  3. The company intends to launch its mobile app experience to offer its browser extension, allowing shoppers to earn bitcoin on their everyday purchases on the go. 
  4. StubHub has announced that it will be winding up its San Francisco and Shanghai offices by the end of the year and will be laying off most of the employees based in these locations. It’s focusing on building new offices in New York and Los Angeles and using these locations as key hubs for in-person work.  

Key Funding Alert

Nestle to invest over USD 1 Bn in sustainable coffee farming plan 
Nestle launched the Nescafe Plan 2030 to make coffee farming more sustainable. It will encourage farmers supplying its Nescafe brand to employ more sustainable farming methods against the climate change menace that poses threats. Read More>>

Startup Spotlight

Company – ParallelDots
Total Funding – USD 6.42 Mn
About: ParallelDots is an image recognition tool that automatically checks retail shelf compliance from store images. Using the ParallelDots ShelfWatch platform, CPG manufacturers can immediately discover in-store execution gaps and fix them to drive sales and category growth. Read More>>

Latest Reports Published in Draup

Airbnb Account Intelligence Report 
Airbnb is keen to offer a platform that facilitates direct real-world communication with neighbors regarding potential parties in progress or concerns with any nearby listings. It will position its future goals in enhancing its technology service worldwide for guests and travelers. Read More>>
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