retail news in context, analysis with attitude

• The San Francisco Chronicle reports that the city is getting a new urban store that is conceded to be a knock-off of Eataly - Market on Market, described by the story as "a sprawling $5million food emporium that will be a hybrid grocery market and foodie food court. It will have the staples to take home — milk and eggs, cereal and veggies, meats and breads — but also a taco bar, pizzeria, oyster bar, sushi shop and wine bar."

The store will be located in the old San Francisco Furniture Mart, "on top of a BART station and on the city’s busiest bike route, which frequently gets 6,000 one-way bike trips a day." The story notes that "the Mid-Market neighborhood is dense and getting denser. In the past three years, it has attracted Twitter, Uber, Square and Dolby. Already, 2,500 residents have moved into the neighborhood, and another 2,500 are coming as towers sprout up along Mission and Market streets, so there should be plenty of business."


• The Associated Press reports that "Chiquita has sealed a deal to be acquired by two Brazilian companies for about $681 million, with the U.S. banana producer expected to go private by the end of this year or early next. The deal comes just days after the fresh produce company’s shareholders rejected plans to merge with Fyffes, another major banana producer, based in Ireland."

According to the story, "Chiquita Brands International, based in Charlotte, N.C., said Monday it will be acquired by investment firm Safra Group and juice company Cutrale Group for $14.50 per share, a 2 percent premium to its Friday closing price of $14.16.
The companies put the transaction’s value at about $1.3 billion, including the assumption of Chiquita’s debt."


• The Associated Press reports that as part of its winnowing down its product lineup to focus on top performers, Procter & Gamble said that it plans to spin off Duracell into a standalone company.


• The Wall Street Journal reports that PepsiCo has confirmed that "it will test some of its drinks in SodaStream International Ltd. ’s home-carbonation machines in the U.S. PepsiCo and SodaStream said their agreement is limited to a 'small-scale, limited-time test' scheduled for later this year … The SodaStream trial comes as Coca-Cola Co. prepares to sell its sodas by next year in a cold-drink countertop machine being developed by Keurig Green Mountain Inc. Coke acquired a minority stake in Keurig earlier this year."
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