Carrefour and its co-investment partners established company dedicated to enhancing the value of its shopping centers in Europe

PARIS, 2014-4-18 — /EPR Retail News/ — Completion of agreements with Klépierre and creation of CARMILA, a company dedicated to enhancing the value of its shopping centers in Europe

Carrefour and its co-investment partners announce today the creation of CARMILA, a company dedicated to enhancing the value of the shopping centers adjacent to Carrefour hypermarkets in France, Spain and Italy.

CARMILA owns a portfolio of 171 shopping centers comprising:
• on the one hand, 126 sites in France , Spain and Italy acquired on April 16, 2014 from Klépierre for a market value of €2.0 billion;
•on the other hand, 45 sites in France contributed by Carrefour with a market value of €0.7 billion.
CARMILA thus holds real estate assets valued at €2.7 billion.

Carrefour will own 42% of CARMILA, alongside major international investors (Amundi, Axa, Blue Sky Group, BNP Paribas Cardif, Colony Capital, Crédit Agricole Assurances, Pimco and Sogecap). Jacques Ehrmann is the Chaiman and Chief Executive Officer of CARMILA.

Initial funding consists of €1.8 billion in equity, contributed by the co-investors for €1.0 billion and by Carrefour for €0.8 billion (of which €0.7 billion through the transfer of assets at market value and €0.1 billion in cash). Additionally, CARMILA has obtained bank credit lines for the balance of €0.9 billion.

CARMILA will not be consolidated in Carrefour’s accounts. Its results will be accounted for under the equity method in the Group’s accounts.

The creation of CARMILA is part of Carrefour’s strategy of modernizing and revitalizing its commercial sites for the benefit of its customers in the countries in which it operates.

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Alliance of food manufacturers, retailers and foodservice operators released toolkit to help businesses in the food sector reduce food waste

WASHINGTON, DC, 2014-4-18 — /EPR Retail News/ — Today an alliance of food manufacturers, retailers and foodservice operators announced the release of a toolkit to help businesses in the food sector reduce the amount of food waste sent to landfill. The Best Practices and Emerging Solutions Toolkit was produced by the Food Waste Reduction Alliance (FWRA), a cross-sector industry initiative led by the Food Marketing Institute (FMI), the Grocery Manufacturers Association (GMA) and the National Restaurant Association (NRA).

“The Food Waste Reduction Alliance has been working to tackle food waste challenges within the food sector since 2011, but we know that there are companies out there that are just starting to look at the issue,” said Gail Tavill, vice president, sustainable development for ConAgra Foods and one of the toolkit authors.  “Our goal for the toolkit is to elevate the issue of food waste within the sector and enable more companies to take action by sharing key learnings and model practices gleaned from organizations who are at the leading edge of this issue.”

Approximately 80 billion pounds of food waste are discarded in U.S. landfills each year.  The majority of food waste is generated at the residential level, but it can also be a byproduct of manufacturing, retail and foodservice operations.  The FWRA toolkit focuses on strategies food manufacturers, retailers and foodservice operators can employ to keep food out of landfills, and to reduce food waste at the source.

“The sad truth is that while food is going to waste, 37 million Americans struggle to put enough food on the table to feed their families.  The safe, edible food that is diverted from the waste stream to food banks through model practices showcased in the toolkit make a positive social impact on communities across the country by providing sustenance to those in need,” shared Karen Hanner, director of manufacturing product sourcing at Feeding America, and a key contributor to the toolkit.

The model practices and emerging solutions were compiled from the more than 30 FWRA member companies that are focused on reducing food waste within their operations.  Specific topics discussed include:

  • Tactics for overcoming obstacles to food donation such as liability and supply chain issues
  • Emerging solutions and new technologies for recycling food waste, including energy production opportunities
  • Strategic planning to avoid food waste generation

The toolkit also offers a “Getting Started” section for companies that are just beginning to consider food waste reduction strategies.  Conducting a waste characterization assessment, establishing standard operating procedures and developing collaborative relationships with partners from the anti-hunger community, waste management providers and other stakeholders are among the starting points outlined.

Numerous real-life examples and case studies of the approaches discussed are found throughout the Best Practices and Emerging Solutions Toolkit.

“One of the most valuable features of the toolkit is that it includes examples and insights from companies that illustrate the strategies outlined.  What’s more, the alliance recognizes that there are operational differences between food manufacturers, retailers and foodservice companies, so there are case studies that speak to the unique concerns and challenges of each sector,” noted Jason Wadsworth, sustainability coordinator for Wegmans Food Markets, Inc. and toolkit co-author.

“FWRA members are committed to reducing food waste not just within their own organizations, but across the entire food sector.  By sharing our collective experience, we hope to enable other companies to tackle food waste more efficiently and more effectively than when we started the process,” said Brandon Tidwell, sustainability manager with Darden Restaurants and toolkit co-author.  “The more companies that join the effort, the faster we can change the social acceptability of wasting food.”

For a copy of the FWRA Best Practices and Emerging Solutions Toolkit, please visit the FWRA web site at www.foodwastealliance.org.

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About the Food Marketing Institute
Food Marketing Institute proudly advocates on behalf of the food retail industry.  FMI’s U.S. members operate nearly 40,000retail food stores and 25,000 pharmacies, representing a combined annual sales volume of almost $770 billion.  Through programs in public affairs, food safety, research, education and industry relations, FMI offers resources and provides valuable benefits to more than 1,225 food retail and wholesale member companies in the United States and around the world.   FMI membership covers the spectrum of diverse venues where food is sold, including single owner grocery stores, large multi-store supermarket chains and mixed retail stores.  For more information, visit www.fmi.org and for information regarding the FMI foundation, visit www.fmifoundation.org.

About the Grocery Manufacturers Association
Based in Washington, D.C., the Grocery Manufacturers Association is the voice of more than 300 leading food, beverage and consumer product companies that sustain and enhance the quality of life for hundreds of millions of people in the United States and around the globe.  Founded in 1908, GMA is an active, vocal advocate for its member companies and a trusted source of information about the industry and the products consumers rely on and enjoy every day.  The association and its member companies are committed to meeting the needs of consumers through product innovation, responsible business practices and effective public policy solutions developed through a genuine partnership with policymakers and other stakeholders.  In keeping with its founding principles, GMA helps its members produce safe products through a strong and ongoing commitment to scientific research, testing and evaluation and to providing consumers with the products, tools and information they need to achieve a healthy diet and an active lifestyle.  The food, beverage and consumer packaged goods industry in the United States generates sales of $2.1 trillion annually, employs 14 million workers and contributes $1 trillion in added value to the economy every year. For more information, visit www.gmaonline.org.

About the National Restaurant Association
Founded in 1919, the National Restaurant Association is the leading business association for the restaurant industry, which comprises 990,000 restaurant and foodservice outlets and a workforce of more than 13.5 million employees. We represent the industry in Washington, D.C., and advocate on its behalf. We operate the industry’s largest trade show (NRA Show May 17-20, 2014, in Chicago); leading food safety training and certification program (ServSafe); unique career-building high school program (the NRAEF’s ProStart); as well as the Kids LiveWell program promoting healthful kids’ menu options. For more information, visit Restaurant.org and find us on Twitter @WeRRestaurantsFacebook and YouTube.

About Feeding America
Feeding America is a nationwide network of more than 200 food banks that leads the fight against hunger in the United States. Together, we provide food to more than 37 million people through 61,000 food pantries, soup kitchens, and shelters in communities across America. Feeding America also supports programs that improve food security among the people we serve; educates the public about the problem of hunger; and advocates for legislation that protects people from going hungry. Individuals, charities, businesses and government all have a role in ending hunger. Donate. Volunteer. Advocate. Educate.  Together we can solve hunger. Visit http://www.feedingamerica.org/. Find us on Facebook at www.facebook.com/FeedingAmerica or follow us on Twitter at www.twitter.com/FeedingAmerica.

Contact Information:
Heather Garlich, FMI, 202-220-0616
Ginny Smith, GMA, 202-295-3937
Christin Fernandez, NRA, 202-331-5939

Groupe Auchan succesfully priced €600 million 7-year bond offering

Croix, France, 2014-4-18 — /EPR Retail News/ — On Tuesday April 15, Groupe Auchan successfully priced a €600 million 7-year bond offering.

The order book was quickly closed, given the size and quality of the orderbook, in excess of €2.4 billion.

Price guidance was first established at ms+60/65 bps. Investors’ eagerness of this issuing enabled Groupe Auchan to improve its financing conditions by finally setting a price offering of ms+55 bps and a 1.750% coupon, the lowest coupon ever paid by Groupe Auchan.

The orderbook highlights the excellent geographic diversification, with 50% coming from non-French investors. Assets Managers represent more than 60% of the investors, followed by insurance companies and banks.

Citi, CM-CIC, HSBC, SG CIB and Unicredit worked as joint bookrunners of this operation.

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The last two Real hypermarkets in Romania opened under the Auchan banner

Bucharest, Romania, 2014-4-18 — /EPR Retail News/ — On April 10 and 11, the Romanian hypermarkets of Timisoara and of Cotroceni opened under the Auchan banner. They were the last of the 20 Real hypermarkets to do so.

Everything went very quickly since September 12, 2013 and the closing of Real hypermarkets in Romania. In 2013, 12 hypermarkets had already changed of banner. After a small break during Christmas holidays, the last 8 stores also changed of banner in less than 6 weeks. Such speed can be explained by the more than encouraging results recorded in rebranded hypermarkets.

With these openings, Auchan Romania now owns 31 hypermarkets, 252,687 sqm floor space and employs 10,870 employees. Moreover, 2 new hypermarkets are being buidt and will be opened in 2014.

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The last two Real hypermarkets in Romania opened under the Auchan banner

The last two Real hypermarkets in Romania opened under the Auchan banner

The Defense Commissary Agency opened new $14.5 million commissary at Naval Submarine Base New London, Ct

NEW LONDON, Ct., 2014-4-18 — /EPR Retail News/ — A new $14.5 million commissary opened at Naval Submarine Base New London, April 16.

The new facility replaces a store built in 1981 at the installation known historically as the Navy’s first submarine base. With a significantly larger sales area, the commissary represents a much anticipated boost in New London’s quality of life, said Capt. Carl A. Lahti, base commander.

DeCA Executive Director of Store Operations Keith Hagenbuch noted during his remarks that commissary patrons helped make the new store possible when they paid the 5 percent surcharge at the register.

The new commissary includes the following features:

Using the rewards card is simple:

  • A sales area expansion of nearly 2,000 square feet
  • New bakery and rotisserie chicken services
  • Larger produce department and chilled and frozen product sections
  • Enhanced refrigeration, lighting and climate control systems that help make the store more energy efficient and a more environmentally friendly facility.

NOTE: You can view photos of the New London Commissary grand opening here, on Flickr.

About DeCA: The Defense Commissary Agency operates a worldwide chain of commissaries providing groceries to military personnel, retirees and their families in a safe and secure shopping environment. Authorized patrons purchase items at cost plus a 5–percent surcharge, which covers the costs of building new commissaries and modernizing existing ones. Shoppers save an average of more than 30 percent on their purchases compared to commercial prices – savings amounting to thousands of dollars annually. A core military family support element, and a valued part of military pay and benefits, commissaries contribute to family readiness, enhance the quality of life for America’s military and their families, and help recruit and retain the best and brightest men and women to serve their country.

Media Contact:
Kevin L. Robinson
(804) 734-8000, Ext. 4-8773
kevin.robinson@deca.mil