Posts by theo@aacs.org.au

The local boss of global confectionery and food giant Mars Wrigley says the manufacturer is facing the most challenging economic environment in decades, marked by unprecedented hikes in costs, from cocoa to energy, and other inflationary pressures now running through its business. Andrew Leakey, general manager of Mars Wrigley Australia, also confirmed statements made in a submission this year to the senate inquiry into the supermarkets that Australia is one of the highest-cost nations among Mars’ global network of factories as wages, energy and labour all eat away at profits. This has forced Mars Wrigley to absorb much of the cost increases, currently running at 10-12 per cent above last year, but he said the family-owned confectionery, gum, food and pet foods maker remained committed to manufacturing in Australia. “Australia is (a high cost to manufacture) and that’s because of our standard of living … manufacturing in this part of the world…

Exicom to acquire business and assets of Tritium, a distinguished global leader in DC Fast Chargers, headquartered in Australia. Acquisition seen as an ideal anchor towards building a global EV charger business with Tritium’s presence in 47 countries. Exicom will have access to Tritium’s cutting-edge manufacturing facility in Tennessee, USA, as well as a world-class engineering centre in Brisbane, Australia. New Delhi, 08 August 2024: Exicom Tele-systems Limited (NSE: EXICOM, along with its subsidiaries together referred to as, “Exicom”), India’s largest Electric Vehicle (“EV”) charger manufacturer, announced today that its subsidiary Exicom Power Solutions B.V. Netherlands and other step down subsidiaries, have entered into a definitive agreement under which it will acquire business and assets of Tritium group of companies (henceforth referred to as “Tritium”), a distinguished global leader in DC Fast Chargers, headquartered in Australia. With over 13,000 DC Fast Chargers sold in 47 countries, Tritium is recognised as…

Newsweek, Statista surveyed shoppers for their opinions on outlets in 40 categories, for a ranking that recognizes the top 200 places to make a purchase. Newsweek has partnered with data intelligence platform Statista to release its third annual ranking of America’s Best Retailers, including convenience stores. Statista surveyed more than 7,000 shoppers for their opinions on retailers spanning 40 industry categories, resulting in a ranking that recognizes the 200 best places to make a purchase. The retailers on Newsweek’s list stand above their unranked competitors for offering an outstanding shopping experience that resonates with customers, it said. In the convenience-store category, Newsweek ranked these chains (click here to view the full list of retail categories): In February and March 2024, Newsweek and Statista asked survey participants how likely they are to recommend a retailer and to give their thoughts on prices, selection, atmosphere, customer service and accessibility. The final assessment and rankings…

Petrol retailing and refining giant Ampol has landed another $100 million from the federal government to help roll out a further 200 electric vehicle fast charging bays by 2025, and to pursue efforts on renewable fuels and other technologies. The new funds are being delivered as a loan through the Clean Energy Finance Corporation (CEFC), and will also support hydrogen refuelling infrastructure, (if it can find any hydrogen cars), and solar PV installations at its retail and charging sites. Ampol has previously landed grants from both the NSW state government and the Australian Renewable Energy Agency to begin its rollout of EV fast charging stations under the AMPCharge brand. However, it fell well short of its target of reaching more than 180 charging bays by the end of 2023, with just 82 charging bays installed across 36 sites. In the company’s 2023 annual report, it blamed delays with grid connections…

Mars Inc. is in advanced talks to acquire Kellanova, the Wall Street Journal reported, citing people familiar with the matter. The Journal noted that including a deal premium, a deal could value Kellanova at around $30 billion and rank among the largest transactions so far this year. Reuters reported on Sunday that sources said, “there is no certainty that Kellanova will pursue a deal with Mars,” and that “it’s possible that no deal with any party is reached.” In 2023, Kellogg Company’s board of directors formally approved the separation of the Kellogg Company into two independent, publicly traded companies: Kellanova and WK Kellogg Co. Kellanova consists of the global snacking, international cereal and noodles, plant-based foods and North American frozen breakfast brands. This includes brands such as Pringles, Cheez-It, Pop-Tarts, Incogmeato, Nutri-Grain and Eggo. Inflation has caused consumers to push back on high prices for snack foods, with many food makers reporting sliding sales or…