Deals this week: Morrisons, Starbucks, Shinsegae
UK-based supermarket chain Morrisons has signed a wholesale supply deal with McColl, a convenience retailer.
The former will supply wholesale products to the latter from next January as part of the deal, becoming a sole supplier to McColl.
Morrisons will supply Safeway branded products, as well as other goods to McColl’s convenience shops and newsagents across the UK.
The deal is expected to help Morrisons to increase wholesale supply sales to more than £1bn ($1.32bn).
Starbucks has signed an agreement with joint venture partners Uni-President Enterprises (UPEC) and President Chain Store (PCSC) to acquire the remaining 50% share of its East China business.
The $1.3bn agreement will result in Starbucks gaining total ownership of 1,300 stores in the Chinese provinces of Shanghai, Jiangsu and Zhejiang.
South Korean department and discount stores operator Shinsegae has completed an indirect corporate fixed coupon rate bonds offering.
The company has raised KRW110bn ($97.9m) through the offering, which will mature on 31 July 2022.
Sanyei Corporation has reached an agreement with German ceramics maker Villeroy & Boch to acquire the latter’s subsidiary Villeroy & Boch Tableware Japan K.K.’s tableware sales business.
Based in Japan, Sanyei is a wholesaler and retailer of furniture, houseware, fashion accessories and home appliances.
The transaction is expected to be closed in October.