Food production and sales This company was founded in Kaohsiung County, Taiwan in When it was first established, its initial focus was on the production, processing, and sales of frozen and canned agricultural and marine products, but when the aquacultured black tiger shrimp was at its height, the company exported 2, metric tons a year to Japan and the U. Since the s we have expended considerable effort in the area of frozen vegetables.
These are external links and will open in a new window Close share panel Image copyright Getty Images Tesco says it is planning a "strategic alliance" with French retail giant Carrefour, as the two try to use their joint buying power to cut costs and offer lower prices to customers.
The two plan a "strategic relationship" when dealing with global suppliers, and the tie-up will also mean sharing their own-brand products. The move comes as retailers face an increasingly competitive environment. Tesco is the UK's largest retailer while Carrefour is Europe's largest.
Carrefour operates 12, stores across more than 30 countries, employing aboutpeople worldwide. The two have been talking for two years and, although no formal agreement has yet been signed, they said they were hoping to confirm a deal in the next two months.
Tesco chief executive Dave Lewis said: Tesco itself recently completed the purchase of wholesaler Booker, and in April, Sainsbury's said that it was in advanced talks to buy Asda from US retail giant Walmart.
The traditional big four UK supermarket chains - Tesco, Sainsbury's, Asda and Morrisons - have faced increasing competition from the rapidly-expanding budget chains Lidl and Aldi over the past few years, and there is now the added threat of internet giant Amazon moving into the sector.
Last year, Amazon bought upmarket grocer Whole Foods. Emma Simpson, business correspondent This tie up would have been unthinkable a decade ago, given the past rivalry of these two supermarket giants, but these days they're both under pressure from the increasing competition.
Aldi and Lidl have vast operations and sales across Europe. This gives them huge buying power with suppliers.
With their no-frills stores and limited, mostly own-branded, product range, their business model makes it very difficult for the big, traditional retailers to match their prices. It's not the first alliance of its kind. There are a number of big buying groups in Europe.
For instance, Morrisons is part of the AMS Sourcing group which enables it to buy some own branded products with other companies.
Sainsbury's and Asda also want to buy better together, securing better terms from suppliers, with their mega merger. All the big traditional supermarkets are trying to cut costs and improve profitability as they adapt to an array of pressures and changes which are reshaping the industry.
Tesco will be hoping this move will improve its offer.
Harder fight "Another price war is now looming in the UK supermarket sector," said Laith Khalaf, senior analyst at Hargreaves Lansdown. Own-brand ranges give supermarkets greater control and the potential for higher margins, he added. Across the British supermarket sector there is a shift towards more own-label products, suggesting the big brands will have to fight harder for shelf-space.
Image copyright Getty Images The potential squeeze on suppliers is a big worry for FoodDrinkEurope, the trade organisation for Europe's food and drinks suppliers. It recently recorded its 10th consecutive quarter of rising sales and said its growth plans were on track.CARREFOUR INVESTOR DAY Plan Introduction: The empowered consumer Rolling out Carrefour’s Multiformat & Omnichannel model Multiple bases on the average annual spend of Carrefour loyaltycard holders (base 1x on hypermarkets) A multi-format customer is more.
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BOULOGNE-BILLANCOURT, France--(BUSINESS WIRE)--Regulatory News: the Carrefour plan is already delivering significant advances in a very large number of areas, including the development of.