-US: Kellogg's president and CEO David Mackay is to retire on 1 January. He will be replaced by chief operating officer John Bryant, who will take up his new role on 2 January. Mackay has been at the helm of Kellogg's since 2006. "David has provided invaluable leadership to our company. His focus on driving sustainable growth and his passion for our company and people around the globe have been instrumental in our success," said Jim Jenness, chairman of the board of directors.

-Costco Wholesale has reported a rise in first-quarter profits on the back of sales from its Mexican joint venture. Costco reported profits of $312m (£198m) for the quarter ended 21 November, up from $266m a year earlier. Total revenues increased to $19.24bn from $17.3bn, while sales rose to $18.82bn from $16.92bn.

-RUSSIA: X5 Retail Group is to acquire discounter Kopeyka for RUR 51.5bn (£1.05bn). The deal, which will see it take on the chain's debt, has been approved by Russia's antitrust regulator and is expected to conclude this month. "Acquiring Kopeyka reinforces X5's number one position in the Russian retail market, significantly expanding our soft discounter presence in Moscow," said X5 Retail Group CEO Lev Khasis.

-CYPRUS: Holland & Barrett has expanded its international franchise portfolio and entered Cyprus. The company has secured a partnership with CA Papaellinas Group, which currently operates the AlphaMega Hypermarkets and the Beauty Line retail stores, taking its total number of franchise stores to nine. The company already has stores in South Africa, Malta, Singapore and the United Arab Emirates.

-DUBAI: Nestlé has invested £86m ($136m) in a new factory in Dubai. The 515,000 sq ft plant, which currently employs 555 people, specialises in making and packaging brands such as Nido powder milk, Kit Kat and Nestlé Pure Life water. "With such a facility we will be able to meet fast-rising regional demand and contemplate exporting to other regions," said Middle East chairman and CEO Yves Manghardt.

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