ACR-News

A MANAGEMENT team has completed a £300m buyout of Palmer & Harvey, the leading supplier of confectionary to the supermarket trade.
For all the criticism from the likes of Sir Terry Leahy of Tesco, Ocado today delivers Waitrose food and drink to up to one million customers. It has about half of the grocery home shopping market in London. The business started generating a profit on a daily basis in November and its annual sales are nudging £350m.

A takeover of Somerfield edged closer it was reported, after the talks between the British supermarket chain and its suitor, the Co-op were progressing despite disagreements over price. Somerfield put itself up for sale at the start of the year after an approach from Asda.

Tesco it would appear fails to find America easy. However, despite the sniping of competitors and critics, Tesco's new American chain Fresh and Easy does have its supporters. However, there are not enough of them and on both sides of the Atlantic, there are growing fears that Tesco's experiment is doomed.

Offshop, which will arbitrate disputes between supermarkets and suppliers, must be given powers to conduct unannounced audits at food companies, farmers' leaders say. Evidently the farming industry senses victory after a five-year battle to persuade the Government and competition authorities that suppliers have been losing money because of tactics used by supermarkets to keep up their profits. Among farmers there is some concern that if the regulator is too powerful and retailers are restricted by new red tape, they will find it easier to buy food from abroad, where they will not be subject to the same trading rules.

Controversial measures to boost the number of supermarkets on the edge of towns are expected to be backed by the Competition Commission.

Wal-Mart has opened in-store medical clinics under its own brand name in Atlanta, Dallas and Little Rock.

Asda is understood to have engaged Lazard to advise it on the £2.5bn auction of Somerfield. The retailer is thought to be considering the acquisition of Somerfield or buying some of its 955 stores.

The surge in food prices will continue for at least a further two years, the ceo of one of the world's biggest food companies has told The Times.

Indra Nooyi, the joint chairman and ceo of PepsiCo, predicted that 'structural inflation for food is here to stay for another two or three years', and that it would be propelled by government initiatives to subsidise ethanol programmes, the biofuel that is seen as a more environmentally friendly alternative to oil.

Over the last 12 months milk prices have doubled as demands for corn, the staple diet of a dairy herd, increased.

Safeway the California-based supermarket company has converted its entire US trucking fleet of more than 1,000 vehicles to biodiesel fuel to cut CO2 emissions.

Tesco is to monitor the shopping habits of more than 60 million customers worldwide in a deal with the 'big brother' company behind its club card loyalty scheme.

The Office of Fair trading faces a bill for almost £500,000 after issuing an apology for wrongly accusing Wm Morrison of fixing the price of butter and cheese.

Chocolate retailer Thornton's has warned investors about the effect of rising costs.

GEMINI