Editor's choice: the highlights on just-food this week
Tesco this week announced plans to cut GBP500m (US$773.6m) from the price of thousands of items in the UK in a revamp of its promotional strategy. Suppliers and rival retailers will be weighing up the impact on their businesses and the move comes at a difficult time for online retailer Ocado, which has a high-profile price-matching campaign aimed at Tesco and has seen its shares fall this week. Elsewhere, Kerry Group boosted its ingredients business with a move to buy Cargill's flavours arm while one deal that will not happen is ConAgra Foods' bid to buy Ralcorp Holdings, which again refused to talk to its suitor.
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