Key Signals in Retail and Consumer Goods
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Centre setup and Expansion
United Natural Foods expands Northeast Distribution Center Network
The company opened a 125,000-square-foot refrigerated distribution center in Londonderry, NH, expanding the company’s ability to deliver leading products to support customer growth across the Northeast. Read More>>
PepsiCo to expand production capabilities in Romania
The company is investing USD 100 Mn into its facility in Popesti-Leordeni, Romania. The expansion project will improve three production lines and add an automated warehouse and other automation capabilities. Read More>>
Gordon Food Service opens in Midtown
The new 27,000-square-foot store supplies food to restaurants, bars, and other food service professionals but is also open to the public. The store also has an indoor food truck that will serve to-go food. Read More>>
Deal
Voltalia signs 30-MW solar PPA with Leroy Merlin
The company has signed a power purchase agreement (PPA) to supply the domestic retail chain Leroy Merlin with electricity from a 30-MW solar project. To serve the new 15-year contract, Voltalia will build the photovoltaic (PV) power plant in France’s Centre-Val de Loire region. Read More>>
Mergers and Acquisitions
Treehouse Foods sells a significant portion of its meal preparation business to Investindustrial
The strategy is to focus on the higher growth and margin private label Snacking and Beverage categories that enhance our ability to capitalize on positive demand trends and drive long-term shareholder value. Read More>>
Chat-based e-tailer Threads Styling acquired by Chalhoub Group
The acquisition will help Threads Styling deepen and expand its presence in the Middle East, already a key market for the company. Read More>>
Partnership
Stellantis collaborates with Uber on the electric vehicles market in France
As per the agreement, Free2Move would facilitate Uber’s plans to convert 50% of its fleet in France to electric vehicles. Furthermore, producing and selling more electric and hybrid cars is also integral to Stellantis’ agenda. Read More>>
Executive Movements
Kirkland’s, Inc. announces the resignation of Michael A. Holland as Senior VP and CTO
Mr. Holland, who will remain in his current capacity with the company until his October 28 departure date, is resigning to pursue other opportunities. Read More>>
Edward G. Cannizzaro joins Ross Stores Board of Directors
The company announced that Edward G. Cannizzaro had been elected to its Board of Directors, effective October 14, 2022. Mr. Cannizzaro spent over 35 years at KPMG, where he held various leadership, auditing, and consulting roles. Read More>>
HKScan CEO Tero Hemmil steps down
Juha Ruohola has replaced Hemmil as interim CEO. Ruohola is a company executive team member and has previously worked as EVP for HKScans Baltic and Polish business units. Read More>>
Layoff
Health Service’ Truepill’ implements its fourth layoff of the year
Almost 65% of existing employees, including engineering, human resources, design, IT, and finance, will be affected. Read More>>
Impossible Foods lays off 6% of employees
The layoffs involve roles that have become redundant to others in the organization or are no longer aligned with core business priorities. Read More>>
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Latest Industry Insights from Draup Braindesk
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Key Funding Alert
Ikea to invest USD 96.9 Mn to build over 250 social homes in Dublin
Ikea’s parent company, Ingka Investments, will fund the development of more than 250 social housing units across the greater Dublin area. The new homes will be leased long-term to the relevant local authority upon completion. Read More>>
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Startup Spotlight
Company – Better Dairy
Total Funding – USD 26.95 Mn
About: Better Dairy uses precision fermentation to produce the cheeses, yogurts, and ice creams that customers now enjoy without using animal produce. Read More>>
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Latest Reports Published in Draup
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Introducing Service Providers app
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Service Providers app helps you identify service providers to build partnerships.
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