The owners of Australian fresh produce firm Costa Group have sold a 50% stake in the business to private-equity firm Paine & Partners. The deal, struck for an undisclosed sum, will give family-owned Costa the investment to “pursue long-term strategic growth”, chairman Frank Costa said. “The Costa Group board and family believe this arrangement with Paine & Partners offers both financial resources and the opportunity for management and employees to pursue long term strategic... ...Read more »

The Australian Competition and Consumer Commission (ACCC) has found that Coles’ decision to discount house brand milk does not breach competition law. The ACCC decided that discounted prices for house brand milk benefitted consumers and did not constitute anti-competitive behaviour. The decision was based on evidence that the purpose of Coles’ price reductions was to increase competition with other supermarkets. “The major impact of the reduction in milk prices since January seems... ...Read more »

Costco, the US retail giant, has opened its first stores Sydney and Canberra. The openings herald a major shift in the Australian market, intensifying competition in an already challenging retail environment. Costco is a members-only retailer that provides business and private members with low-cost and bulk-packaged products from a range of categories including groceries, clothing and homewares. The retailer is known for selling bulk imported products and popular local supplier brands for at least... ...Read more »

Continued uncertainty over carbon pricing may help to explain why Australians are keeping their hands in their pockets, according to Margy Osmond, CEO of Australian National Retailers Association. Commenting on the Government’s carbon price announcement, Osmond said that consumer confidence “is at a two year low and retail figures have reflected that. “Much of the uncertainty around the carbon price may now lesson, but the negativity of the ‘anti’ campaign will continue... ...Read more »

Incaberries, a product grown in Ecuador, are now available to major health food stores, green grocers and wholesale distributors in Australia. The berries are imported by GB-Commtrade, the specialist nut and dried fruit importer. “The organic, preservative-free berries are an ideal fit for our market providing a nutrient-rich snack and ingredient for discerning, health-conscious consumers,” said Gerard Brunton, founder of GB-Commtrade. “A few years ago incaberries were completely... ...Read more »

Woolworths, Australia’s largest retailer, said yesterday that sales, which include its general merchandise and hotel divisions, were up 4.7% to reach A$54.1bn (US$58.09bn). Excluding petrol, sales grew 4.1% to $48.1bn. Sales from the retailer’s the supermarket division were up 4.6% for the year ended 26 June to reach A$44.3bn. Its Australian food and liquor division posted a 4.3% increase in sales to A$36.2bn, while sales from its supermarkets in New Zealand rose 3.4% to NZ$5.3bn (US$4.53bn). The... ...Read more »

A recent study by a team of Spanish and British scientists has identified different nutritional benefits within the layers of onions. They found that onions are rich in nutrition, even those layers that are typically discarded. The scientists from the Department of Agricultural Chemistry at the Autonomous University of Madrid and Cranfield University in the United Kingdom have just published their results in journal Plant Foods for Human Nutrition. The scientists had carried out laboratory experiments... ...Read more »

Bega has officially announced the launch of its initial public offering (IPO). Australian cheese manufacturer Bega Cheese has announced the dates of its IPO, with trading in the company’s shares to start on 29 August. In its IPO prospectus, released yesterday (18 July), Bega said the IPO will open on 16 July and close on 16 August. Bega plans to raise A$35m (US$37.3m) through selling a 15% stake in the company. It will offer 18.3m shares at A$2.00 per share, valuing the company at A$254m. Bega... ...Read more »

Food manufacturers including Nestlé, Hershey and Kraft Foods have published their own uniform guidelines on the nutritional content of products advertised to US children. The criteria, published yesterday, are an attempt to regain the initiative over the issue from the US government, which has put forward plans for criteria for the food industry to follow. The US government, which is facing rising levels of obesity, published its set of “voluntary principles” in April and invited public... ...Read more »

Unilever has released a statement encouraging political leaders to take “ambitious steps” to tackle climate change, and rejecting media suggestions that it will oppose the Government’s carbon tax. “Climate change is likely to have a growing impact on our business and we are planning ahead and reshaping our business on the assumption that we will be operating in an environment where there is a price on carbon,” said a release from the company. “Media reports questioning... ...Read more »