1. News
February 11, 2019

Woolworths to invest $20m in Townsville operations

Australian supermarket chain Woolworths is planning to enhance its store network and distribution centre in Townsville, Queensland, during the next 18 months with a $20m investment.

Australian supermarket chain Woolworths is planning to enhance its store network and distribution centre in Townsville, Queensland, during the next 18 months with a $20m investment.

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The company has made this decision as part of its flood recovery efforts in the city.

Woolworths Group CEO Brad Banducci has joined Queensland Minister for Communities Coralee O’Rourke and its emergency relief partner The Salvation Army to announce the investment.

Banducci said: “Our teams have worked round the clock to replenish our stores with fresh food and essentials in challenging circumstances, and I thank them for their resilience and dedication to serving the community.

“We have a long and proud history in Townsville, and this announcement demonstrates our ongoing commitment to invest in the city for the benefit of our customers and team members.

“This investment will not only deliver a better local store network, it’ll also help build greater resilience into our supply chain for extreme weather events in the future.”

“This investment will not only deliver a better local store network, it’ll also help build greater resilience into our supply chain for extreme weather events in the future.”

Using the investment, the retailer initially plans to reopen the flood-affected Woolworths Fairfield location for local customers and team members.

It will also use the investment to update the cold storage facilities at its Townsville Distribution Centre in an effort to increase its capacity to hold more produce.

In October, the company, in partnership with Heritage Bank, launched a $30m Woolworths Organic Growth Fund to assist farmers to meet customer demand for organic fruit and vegetables. The fund was launched to offer interest-free loans to Australian organic fruit and vegetable growers.

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How attractive are current investment opportunities in Europe?

Europe has been identified as one of the most favorable regions for investors, seeing high investment activity in the past year. Most of these investments have been through Debt Offering, valued at close to $700 billion. The region has provided attractive investments in a diverse set of companies. Companies who tend to major themes such Digital Media, Cloud, Artificial Intelligence, E-commerce, and Big Data are recording the highest number of deals, with Digital Media recording close to 2,000 deals. However, GlobalData’s whitepaper offers a full view of the market, analyzing less successful or attractive points of investment as well, examining statistics on Equity Offering investments and PE/VC deals. Understand how government agencies for economies around the world use GlobalData Explorer to:  
  • Track the M&A and Capital Raising volumes into their target market
  • Identify the top sectors in the target market attracting the investments
  • For any investment segment, identify the top Investors inside and outside the target economy that are already investing in the Segment
  • Assess and showcase the growth potential for various Industries in the target economy
Don’t miss out on key market insights that can help optimize your next investment – read the report now.
by GlobalData
Enter your details here to receive your free Report.