NEWS4 ASIAN TRADER 13 OCTOBER 2017 http://www.asiantrader.biz
Follow us on: http://www.twitter.com/AsianTrader Like us on: http://www.facebook.com/AsianTraderAn unnamed symbol group
has submitted a detailed state-
ment to the CMA outlining
the reasons why it feels the
Tesco/Booker merger should
not go ahead.
The symbol group joins the
ACS (Association of Conveni-
ence Stores), Bestway Whole-
sale Limited and British
Brands Group who have writ-
ten to the CMA about their
concerns, particularly around
competition in the independ-
ent sector.
Since Booker and Tesco an-
nounced their £3.7bn merger
plans, executives at both Best-
way and Parfetts have spoken
publicly about their worries
over the deal.
The new document sub-
mitted to the CMS from the
unknown symbol group said
that the merger will result in a
substantial lessening of com-
petition and urged the CMA
to block the transaction out-
right.
The submission reads: “The
acquisition of Booker will en-hance Tesco’s ability to act
across several markets with
a view to raising prices and
eliminating competition.”
The symbol group believes
Tesco would be able to manip-
ulate competition in all gro-
cery procurement markets,
delivered wholesaling, mar-
kets for grocery retailers in
convenience stores and the
market for symbol operator
services.
With the CMA’s decision
making process to be com-
pleted by the end of the year,
many have speculated over
the concessions Booker and
Tesco might have to make
to ensure they can proceed.
There have been suggestions
that Tesco will have to sell o its One Stop chain. The CMA
stated in July that there were
350 local areas with an over-
lap between Tesco shops and
Booker-supplied ‘symbol
stores,’ where shoppers could
face worse terms when buying
their groceries.
The statement from the
unnamed symbol group said:
“Releasing individual symbol
stores at a local level would be
insu cient to remove the na-
tional concern in this regard.
Even if some stores or symbol
groups were sold, Tesco would
probably remain their whole-
sale supplier, thereby still re-
taining the ability to manipu-
late or increase the input costs
of its downstream competi-
tors.”Symbol group joins opposition
to Tesco/Booker merger
Tilda pairs up with
United Nations
The United Nations World Food
Programme has partnered up
with Tilda partners to ensure
every child has the best possible
start to life.
Tilda’s ‘Mums Helping Mum’s’
campaign enables consumers to
provide nutritional support to
new and expectant mums in
Bangladesh.
The campaign marks a
three-year commitment to
support WFP’s Mother & Child
Nutrition programme through
specially-marked packets of
Tilda. For every pack sold, Tilda
will donate funds to provide at
least one nutrition-boosting
meal to a new or expectant mum.Tres bonne result!
A group of grocery industry
colleagues raised more than £42k
for GroceryAid as they cycled from
London to Paris.
The funds will provide 140
respite breaks for those with
caring responsibilities.
The cyclists set off from Dairy
Crest’s head office in Claygate for
the three- day, 230 mile journey to
Paris.
Tackling intermittent weather
conditions and climbing some
treacherous ascents, the cyclists
reached Paris in fine spirits at the
Eiffel Tower before enjoying a
celebration dinner.Tobacco gantry
removed by Imperial
A Nottingham retailer has had his
tobacco gantry unit removed by
Imperial Tobacco after being
convicted for offences including
the selling of non-duty paid
tobacco.
Magistrates jailed Paul Taylor,
owner of ‘Flowers By Scrumpys’
on Burton Road, Gedling, for 28
months.
As his conviction meant he
was in breach of Imperial’s
conditions of supply, the
manufacturer removed its
gantry from his premises. The
retailer will forfeit all associated
sales support from Imperial. JTI
has also withdrawn all sales
support.Anonymous symbol group asks CMA to block the merger ‘outright’
With the Co-op closing in on
a deal to purchase Nisa, the
Chief Executive O cer of
the buying group has
announced he is leaving his
position as CEO. Following
the departure of Read, the
Nisa Board stated that a
succession planning process
will be announced in due
course. It is likely this plan
will coincide with a formal
o er from the Co-op.
Read joined Nisa in
December 2014 during a
time when the mutual
announced an unexpected
loss and there was a degree
of instability in the busi-
ness. After implementing a
number of tough measures,Nisa reported
EBITDA of £7.3m
in July 2016,
reversing the
previous year’s
loss and marking
the largest
annual swing in
the company’s
40-year history.
Read said:
“My time at Nisa
has been both challenging
and eventful, and I am
proud of our collective
success in turning the
business round. The return
to profitable growth was
key to creating the confi-
dence that enabled a
sustainable business modelfor the benefit of
all Nisa mem-
bers. I am
grateful for all
the support I
have received
from colleagues
and Members.”
Nisa Chairman
Peter Hartley
said: “We are
grateful to Nick
for his leadership during a
challenging period for Nisa
and the wider convenience
sector. Nick and his team
have brought much needed
stability to Nisa, and he will
leave the business in a
signifi cantly improved
fi nancial position.”Nick Read steps down as Nisa CEO
Nick Read