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Stock impact report

Social Enterprise FoodCloud Partners With Nestlé Ireland [Forbes]

TESCO PLC S/ADR (TSCDY) 
NASDAQ:AMEX Investor Relations: tescoplc.com/investors
Company Research Source: Forbes
Store brand coffee on display during at a Lidl grocery store (AP Photo/Steve Helber) Irish social enterprise company FoodCloud is teaming up with Nestlé Ireland - not only will Nestlé Ireland now direct all its surplus food to FoodCloud, it will also pay FoodCloud for every pallet of goods, “to cover the costs to manage, store and redistribute any unforeseen food surplus,” according to their statement earlier this week. Nestlé’s surplus stock eligible for FoodCloud distribution includes coffee, confectionary and cereals. FoodCloud was established in 2013 by Iseult Ward and Aoibheann O’Brien, who saw a need to connect businesses that have surplus food, with charities. 11.5% of Irish households experience food poverty, according to figures from the Irish government from 2015. FoodCloud’s goal is to make sure surplus food makes it onto a dinner plate, instead of becoming waste. The FoodCloud site claims they have saved nearly sixteen million kilograms of food Show less Read more
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