This week in Retail & Consumer goods: Startups acquiring traditional businesses as digital transformation drives growth
Centre Setup and Expansion Camping World Holdings, Inc. opens distribution center in the Tejon Ranch Commerce Center The company announced it is in the middle of relocating Bakersfield operations to a new spot inside the commerce center. The center has two million square feet of commercial and industrial space. Read More>> Ikea is moving fast to a multi-tier store strategy in the US
The transformation began about three years ago when the retailer first began to open stores in different sizes and formats than its traditional 500,000-square-foot warehouse showrooms. Read More>>
Deals and Deal Renewal Mahou San Miguel expands its deal with AB InBev The extension enables the Spanish brewery to distribute the German brand Beck’s, Spaten, and Löwenbräu in the peninsula and the Balearic Islands, including them in its broad product portfolio. Read More>> Future Group-Reliance Retail deal gets SEBI nod As part of the deal, the Future group was to sell its retail, wholesale, logistics, and warehouse businesses to Reliance Retail. Read More>>Mergers & Acquisitions Carlyle raises offer to buy Japan Asia Group to USD 463 Mn tops planned bid by activist fund This move doubles the per share element and tops the bid of an activist fund that has its eyes on the deal. Read More>> Boohoo snaps up Debenhams brand, website An online fashion retailer acquired the intellectual property assets (including customer data and related business information and selected contracts) for £55m (plus VAT) in cash. Read More>> LG likely to sell off its smartphone plants to Vietnam’s Vingroup Vingroup will take over the manufacturing facilities, while LG will continue its R&D, but with a reduced staff stationed at its Korean headquarters. Read More>>Partnerships PepsiCo and Beyond Meat are creating a joint venture to develop snacks and drinks made from plant-based proteins The companies did not reveal what kinds of products they will make. But the collaboration sent Beyond Meat’s shares to their largest single-day gain since they began trading in 2019, jumping by more than $62 each to $221. Read More>> Molson Coors partners with CKBG to distribute RTD Cocktail, Superbird. The partnership represents Molson Coors’ latest effort to expand beyond beer, a move that has diversified its portfolio to include an expanding roster of wine and spirits, non-alcoholic beverages, better-for-you offerings, energy drinks and CBD beverages. Read More>> Owl Labs announces strategic partnership with Ingram Micro Pan Europe Through this relationship, companies will now be able to expand the reach and accessibility of its award-winning flagship product, the Meeting Owl Pro, to one centralized distribution warehouse in Straubing, Germany. Read More>> GameStop Announces Multi-Year Strategic Partnership with Microsoft The strategy is to expand its physical and digital video game offerings, as well as improve the company’s retail technology infrastructure. Read More>>Executive Movement Walgreens names Rosalind Brewer as new CEO Brewer, the former chief operating officer of Starbucks, will replace Stefano Pessina effective March 15, as he transitions to the role of executive chairman of the board. Read More>> Lamb Weston Holdings, Inc announces that John Hatto has been promoted to SVP
Hatto has more than 30 years of experience in the food and beverage industry. Most recently, he led Lamb Weston’s Distributor Sales team as Vice President, Sales, for the Foodservice Business Unit. Read More>>
Kellogg names new VP of Continental Europe Miranda Prins has been promoted to vice president of Continental Europe at Kellogg Co. In her new role, Ms. Prins will be responsible for leading Kellogg’s business operations in Austria, Belgium, France, Germany, Italy, Portugal, Spain, Switzerland, and The Netherlands. Read More>>Mass Hiring and Layoff Ikea Mexico hiring ex-Best Buy employees for its 2021 opening The Best Buy chain thanked Ikea for giving its employees an opportunity in their company after the closure of its operations in Mexico. Read More>> Amazon to open new sort center in Berkeley, creating hundreds of jobs
Amazon said sort centers serve an important part of transporting packages between sites and last-mile delivery for customers. The sorting center should create 500 new jobs, all paying at least $15.00 per hour. Read More>> Boohoo buys out Debenhams leaving 12,000 jobs at risk as retail giant closes high street stores The 243-year-old department store chain is now being taken over by a 15-year-old online startup and will now disappear from British high streets for a good while leaving more than 12,000 jobs at risk. Read More>>
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