All articles by Ed Devlin – Page 29
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NewsCity snapshot: EY resigns as Asda auditor
Big four accountancy firm EY has resigned as auditor to Asda in the latest blow to the Issa brothers, according to reports
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NewsInfinite Roots closes £46m round to build a ‘more sustainable and healthy food system’
Biotech firm Infinite Roots has closed a $58m (£45.5m) series B funding round as the business looks commercialise its technology and kickstart product launches worldwide
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NewsMedia Bites 25 January: AI, Thatchers/Aldi, Wetherspoons
AI technology that guesses the age of shoppers wanting to buy alcohol is to be rolled out in supermarkets under government plans
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NewsTwo Tribes plots international expansion following fundraising
Founded in 2017 by DJ and music producer Justin Deighton, the brand is stocked by the likes of Waitrose, Sainsbury’s and Ocado, as well as by Eurostar and Virgin Atlantic, and premium on-trade sites in London
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NewsFull Power Cacao scores Dragons’ Den investment from Gary Neville, Steven Bartlett and Peter Jones
Ceremonial-grade cacao company Full Power Cacao has scored a three-way investment following an appearance on the BBC’s Dragons’ Den
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NewsCity snapshot: East Imperial Superior Beverages raises funds to take on growth markets
Premium tonic maker East Imperial has raised £325k to boost working capital and help realise growth opportunities in the US and Asia Pacific markets
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NewsMedia Bites 23 January: Morrisons, baby formula, VBites, Virgin Wines
Morrisons is closing in on a £2.5bn deal to sell its petrol forecourts portfolio to another company backed by its private equity owner, according to reports.
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NewsHeather Mills strikes rescue deal for VBites
Heather Mills has bought the assets of her collapsed plant-based VBites empire from administrators in a rescue deal worth £1m, The Grocer can reveal
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NewsCity snapshot: Virgin Wines celebrates ‘good’ Christmas
Virgin Wines UK has hailed a “good” Christmas and revealed a “significant” improvement in profitability during its first half. Plus, catering giant Compass has agreed a £475m deal to acquire hospitality firm CH&CO
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NewsMedia Bites 19 January: Sainsbury’s, Naked Wines
Sainsbury’s move to pull out of financial services as part of its latest strategy is the main story in focus in this morning’s papers.
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NewsInnocent losses soar as £200m factory needs more investment
Revenues declined by £15.6m – a 3.5% fall year on year – to £426.2m in the 12 months ended 31 December 2022, according to newly filed accounts
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NewsMedia Bites 18 January: Inflation
The surprise increase in inflation is the main focus in this morning’s papers.
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NewsRegal Food Products strengthens desserts portfolio with Love Handmade Cakes deal
Regal Food Products has continued its acquisition spree with the takeover of cake manufacturer Love Handmade Cakes
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NewsCity snapshot: Cigarettes and alcohol behind surprise jump in inflation
Rising alcohol and tobacco prices have contributed to an unexpected increase in the annual rate of inflation in December. Plus, Hotel Chocolat shareholders vote on Mars deal, Just Eat Takeaway and Wincanton issue trading updates and Gusbourne appoints a new boss
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NewsVegan and brewery distress sees deal volumes pick up in 2023, says Oghma
M&A activity in food & drink picked up in the final months of 2023 thanks to a combination of pent-up demand and distress in the plant-based and craft brewery sectors, according to a new report published this morning
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NewsMedia Bites 16 January: Ben & Jerry’s, Superdrug, fuel prices
Ben & Jerry’s has called for a permanent ceasefire in Gaza, in a move that risks reigniting tensions with parent company Unilever over the ice cream maker’s stance on Israeli policies
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NewsElla’s Kitchen parachutes in new boss as management team leave en masse
Will Howard left the company last week, part of a management team exodus since owner Hain Celestial introduced a global restructuring strategy at the end of 2023
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NewsFreja raises £2m from fmcg heavyweights and sport stars Harry Kane and Alistair Brownlee
Former Unilever boss Paul Polman and serial investor Giles Brook have backed the business, alongside Childs Farm founder Joanna Jensen and Kiddylicious founder Sally Preston
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NewsLDC-backed Bramble Foods bolts on The Bay Tree Food Co
Private equity-backed fine foods manufacturer Bramble Foods has added to its offering with the acquisition of The Bay Tree Food Co
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NewsM&A 'will ramp up in plant-based category’ in 2024
Consolidation in the plant-based category is expected to ramp up in 2024 as the difficulties facing the sector continue this year, according to a new survey