Industry News

Update: Seven & i’s market capitalization was approximately 4.6 trillion yen ($31.5 billion) as of Friday, according to a report by Nikkei Asia. If Couche-Tard buys 100% of Seven & i, the deal would have a value of at least 5 trillion yen ($34.13 billion), said the report. News of the offer triggered a 23% rise in Seven & i’s share price, said a Wall Street Journal report. After the rise, Seven & i’s market capitalization stood at 5.6 trillion yen ($37.9 billion), according to the newspaper, citing data provider Quick. Alimentation Couche-Tard Inc. (ACT), the parent company of the Circle K convenience-store brand, has submitted a “friendly,” nonbinding proposal to Seven & i Holdings Co. Ltd., the parent company of 7-Eleven Inc., to acquire all outstanding shares of the company. Seven & i has confirmed that it has received the confidential, nonbinding and preliminary acquisition proposal from Couche-Tard. “The company is focused on…

SINGAPORE – More national servicemen will have round-the-clock access to purchase daily essentials from unmanned Cheers convenience stores located in-camp, as the Singapore Armed Forces (SAF) and FairPrice Group (FPG) roll out such stores across camps islandwide. FPG and SAF announced on July 29 that they are working together to introduce 13 such 24-hour unmanned Cheers autonomous convenience stores in total across nearly a quarter of all SAF camps in Singapore by December 2024. There are a total of 42 SAF camps in Singapore. The first unmanned Cheers store was opened at the SAF Ferry Terminal in Changi in April 2024. Three more have opened since at Clementi Camp, Kranji Camp 3, and Sungei Gedong Camp in Lim Chu Kang. These stores will provide servicemen with easy access to some daily essentials, and a wide variety of food and beverages that are compliant with “the whole-of-government healthier food and beverage…

Queensland manufacturing has a bright future, thanks to a $400m investment from Suntory, which is creating a multi-beverage partnership between its alcohol and non-alcohol businesses. From mid-2025, Suntory Oceania is set to become home to more than 40 well-known brands, such as V Energy, Jim Beam and -196, and the fourth-largest beverage player in the Oceania region, with more than $3 billion in retail sales. To facilitate this feat, Suntory is building a large state-of-the-art facility at Swanbank, near Ipswich, which will make ready to drink (RTD) and non-alcoholic beverages. It represents a huge vote of confidence in Australian manufacturing, marking the largest investment in fast-moving consumer goods (FMCG) production in the last decade. “The facility will unlock more local capacity and capabilities including beverage processing, packaging, warehousing, and distribution. It will be able to produce 20 million cases of beverages each year at start-up, strengthening our ability to service the growing…

The $35.9 billion deal enhances the manufacturer’s strategic vision for the future of snacking. MCLEAN, Va., and CHICAGO — Mars Inc. and Kellanova have entered into a definitive agreement under which Mars will acquire Kellanova for $83.50 per share in cash, for a total consideration of $35.9 billion. The transaction, which marks one of the largest deals of 2024, will unite two iconic businesses with complementary footprints and portfolios of beloved brands, the companies stated. Kellanova is home to iconic snacking brands, including Pringles, Cheez-It, Pop-Tarts, Rice Krispies Treats, NutriGrain and RXBAR, as well as cherished food brands such as Kellogg’s (international), Eggo and MorningStar Farms. With roots dating back more than 100 years, Kellanova has a rich legacy of quality and innovation. Kellanova had 2023 net sales of more than $13 billion, with a presence in 180 markets and approximately 23,000 employees. “This is a truly historic combination with a compelling…

The Victorian Government has announced it is delivering tougher consequences for repeat and serious youth offenders. Changes include strengthening the bail test by ensuring that bail decision-makers must assess both the risk to community safety and the risk of further serious offending when deciding if bail is appropriate. Meaning if they believe a young person poses an unacceptable risk of committing a Schedule 1 or 2 offence while on bail, it is a clear reason to refuse that bail. Theo Foukkare, CEO of the Australian Association of Convenience Stores (AACS), welcomed the announcement. “We have seen time and time again that youth offenders have increased their level of aggression during aggravated burglary, putting front line retail workers in harm’s way when they are simply doing their job. “Victoria Police need to be commended for their efforts to arrest these offenders, but they are getting out on bail and offending in…

Coca-Cola Europacific Partners (CCEP) has announced an additional investment of $105.5 million for a new Warmfill Line at the Moorabbin plant in Victoria, Australia.  The investment will be the biggest single investment in the company’s Australian manufacturing network. Expected to be operational in the first quarter of 2026, the Warmfill Line will have the capacity to deliver up to 17.8-million-unit cases to the network annually. The installation of a Nitro-Warmfill Line is set to enable the production of the complete Powerade and Fuze Tea beverage range. The new system has the potential to deliver up to 640 bottles per minute and when operating at full capacity, it will increase the site’s overall capacity by an additional 23 per cent. The new bottle line is set to deliver high quality beverages with enhanced efficiency to customers across Victoria, Tasmania, and neighbouring South Australia. Managing director at Coca-Cola Europacific Partners Australia, Orlando Rodriguez, said…