All articles by Ed Devlin – Page 50
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NewsFreshcut Foods snapped up by Flywheel Partners as Perwyn exits
Investment firm Flywheel Partners acquired a majority stake to provide former PE owner Perwyn with an exit
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NewsJLM Global Foods secures £7.5m financial support
Private label snack maker JLM Global Foods has secured a £7.5m financial package to support expansion plans
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NewsCity snapshot: Cranswick lifts outlook as inflation slows
Meat processor Cranswick has raised its annual financial expectations after a “strong” start to the year and signs inflation is starting to slow. Plus, Ocado settles long-running legal dispute with Norway’s AutoStore.
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NewsMilliways ties up £3m to take on chewing gum giants
Sustainable gum challenger Milliways has closed a £3m funding round to take on the giants of the category and become a household name.
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NewsCity News: Ocado shares soar 19% as investors sense ‘jam today’
Ocado shares soared 19% on Tuesday as the grocery tech group outperformed City expectations in the first half, but analysts remain spilt over future prospects.
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NewsCity snapshot: THG sells unwanted OnDemand and ProBikeKit assets
THG has offloaded its unwanted OnDemand business to the division’s management team as part of a strategic review to “simplify and streamline” operations. Plus, UK retail sales beat expectations in June but consumer confidence fell July as household resilience “collapsed”.
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NewsMedia Bites 21 July: CMA, Wilko, M&S, Premier Foods
Another packed morning of fmcg news, with the papers covering the CMA findings on ‘greedflation’, M&S anger over the future of its Oxford Street store, and Premier Foods trading update.
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NewsCake Box rejects takeover offer from The Cheesecake Shop owner
Fresh cream cakes retailer Cake Box has rejected a 160p a share offer from an Australian asset management firm as “materially undervaluing” the company
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NewsCity snapshot: Premier Foods vows to hold prices as inflation passes peak
Premier Foods has pledged no further price rises in 2023 as the Bisto, Batchelors and Mr Kipling owner revealed a strong start to the year and declared that the period of soaring costs had peaked.
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NewsMedia Bites 20 July: Asda, inflation, Cake Box
Asda executives were accused of damaging the company’s brand after an “extraordinary” meeting with MPs at which they were reprimanded for not “complying” with a string of questions.
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NewsSubstantial slowdown in grocery industry profit warnings
Fmcg profit warnings have slowed significantly in the first half of 2023 as retailers and manufacturers experienced a positive start to the year
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NewsCity snapshot: Food price inflation slows from peak
A slowdown in the soaring rate of food prices and falling fuel prices have contributed to UK inflation dropping to its lowest level in more than a year, according to the latest data this morning. Plus, Finsbury Food Group announces record sales.
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NewsMedia Bites 19 July: Ocado, Kantar, Pret
In a very busy morning for food & drink in the papers, Ocado’s latest results, the latest Kantar market share data and a first profit for Pret since 2018 all make headlines.
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NewsCity snapshot: Ocado losses grow as M&S retail partnership swings into red
Losses at Ocado have widened in the first half despite revenues growing as the grocery tech group was hit by a range of exceptional costs and battled to get the online M&S partnership on track
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NewsMedia Bites 18 July: Fuel prices, food prices, olive oil, Tesco
Grant Shapps appears to have stepped back from plans to introduce a law to force “rip-off” supermarkets to make their fuel prices more transparent.
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NewsEversfield Organic swoops for Coombe Farm Organic to boost online meat offering
Organic grocery retailer Eversfield Organic has acquired Coombe Farm Organic in a move that will double the group’s online butchery business
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NewsFaith in Nature welcomes crowd investment to push green credentials
Faith in Nature has smashed a £550k crowdfunding target as the eco personal care brand welcomed outside investment for the first time in its 50-year history
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NewsNumber of food and drink business administrations soars in first half
The number of failures in the sector is on track to more than double year on year, according to new figures
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NewsCity snapshot: Virgin Wines UK hits forecasts as it makes strategic progress
Virgin Wines UK is trading in line with expectations, as the under-pressure DTC retailer is set to report falling revenues and profits
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NewsMedia Bites 17 July: Tesco, inflation, shoplifting, Getir
Tesco is pushing suppliers to pass on savings from falling costs as Britain’s biggest supermarket sets out to cut prices more aggressively than its rivals.