Tesco PLC (ADR)(OTCMKTS:TSCDY) has donated over 1.7 million meals to charities to help those who can’t afford to buy food on their own. Reports claim that a decent volume of food items is left on a day-to-day basis, which can be distributed to different charity groups.
There are ten ambient distribution centres that will carry out this food donation initiative. It’s not the first time when Tesco has decided to execute such an initiative. Previously, it announced that it would donate the extra food whenever possible; this announcement is the next step in the same direction.
Insights of The Matter
FareShare is a leading food redistribution charity organization and Tesco intends to join hands with it to utilize the surplus food in an effective manner. If everything goes as per plans, the company may be able to distribute over 700,000 meals in 2015 alone. Tesco is associated with FareShare for quite some time and distribute food from its distribution centres.
As part of its current announcement, FareShare will receive a one-off donation consisting one million meals from Tesco. These meals will include cereals, tinned meat, vegetables and canned fruit. There are many people in the country living in children’s breakfast clubs, homeless shelters, women’s refuges to name a few. Tesco can help them by offering food, which is nothing more than a dream for many.
The senior management of the company is delighted to announce this initiative and looks forward to continuing this initiative in the future as well. According to Rebecca Shelley, Communication Director, Tesco, it’s the prime objective of Tesco to help people in need with extra food. Both Tesco and FareShare have been working together for the last three years and will continue to associate together to feed those who can’t afford food.
They look to take many more such initiatives in the coming months, details of which will be made available to all the shareholders at a future date.