All articles by Ed Devlin – Page 55
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NewsMedia Bites 27 January: Morrisons, Asda, Diageo, Fever-Tree
It’s a busy morning for grocery and fmcg news in the papers with coverage of the latest Morrisons results, job cuts at Asda, first -half results at Diageo and a trading update at Fever-Tree.
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NewsCrussh creditors were owed more than £11m
Food-to-go and juice bar group Crussh owed creditors more than £11m when it collapsed, according to a new report by administrators. FRP Advisory sold the business in a pre-pack administration deal worth £640k, the document also showed.
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NewsMedia Bites 26 January: M&S/Brexit, Whiskas, Riverford Organic
The chairman of Marks & Spencer has called plans to ease post-Brexit trade ‘baffling’ and ‘overbearing’, as he became the latest business leader to attack the government over its economic policy
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NewsJuice Executive expands with Juice 4 Thought acquisition
Organic cold-pressed juice manufacturer The Juice Executive has snapped up premium brand Juice 4 Thought to expand into new markets.
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NewsCity snapshot: UK retail footfall steadily improves in 2022 but remains below pre-Covid levels
Footfall across UK retail destinations remains significantly lower than before the pandemic but improved steadily throughout 2022, a new report has revealed.
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NewsSeafood supplier Cook & Lucas brings in administrators
A major whitefish processor in Grimsby supplying the likes of Hilton Foods and Charlie Bigham’s has fallen into administration
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NewsDeal values plunge as inflation and lack of debt hit M&A
Deal values in the food and drink industry slumped in 2022 as suppliers battled spiralling costs, consumers cut back on spending and private equity firms had a harder time securing debt for M&A, according to a new report.
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NewsMedia Bites 24 January: Tesco, Sainsbury’s, Chapel Down
The main retail story in this morning’s papers covers the fallout from Tesco chairman John Allan’s comments that food companies may be using inflation as an excuse to increase prices further than necessary
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NewsCérélia acquisition of dough brand Jus-Rol rolled back by CMA
The deals watchdog has blocked the French bakery giant’s acquisition of the ready-to-bake pastry brand following concerns it will push up prices for shoppers and lower product quality
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NewsCity snapshot: Revenues sparkle at Chapel Down as market share grows
Sparkling wine sales at English producer Chapel Down have fizzed 53% higher as a record number of bottles of its premium offering were sold last year. Plus, consumer confidence turns a corner in the UK following 15 months of decline
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NewsLove Cocoa scores multimillion-pound backing to open luxury chocolate stores
Love Cocoa has ambitious plans to take the fight to rival premium chocolatier Hotel Chocolat by opening 10 bricks-and-mortar outlets over the next three years
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NewsDash Water closes £9m round to shake up soft drinks market
Co-founder Alex Wright called the £8.7m series A round “big moment” for the business.
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Analysis & FeaturesHow is Valeo Foods performing for Bain after £1.5bn buyout?
Acquisitions are now more complex and the debt mountain is €1.6bn
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NewsPlant-based brands lead the way as crowdfunders defy inflation pressure
The latest annual report by Seedrs revealed a 24% uptick in successful campaigns in the category to 97 in 2022, with businesses raising £105.1m in total, a year-on-year increase of 14%.
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NewsMedia Bites 19 January: Inflation, WH Smith, Just Eat, Aldi
News of slowing inflation dominates the business pages today, but the papers also find room for robust results from WH Smith and Just Eat
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NewsDr Vegan raises six-figure funding to fuel growth
The £566k raise from private investors follows the business hitting sales of £2m in 2022, its second year of trading.
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NewsCity snapshot: Inflation slows again but food prices keep shooting higher
Food and drink prices continued to climb higher in December, but the UK headline rate of inflation slowed for the second month in a row. Plus, trading updates from WH Smith, Just Eat Takeaway and Eagle Eye
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NewsMedia Bites 17 January: M&S, Fortnum & Mason
The papers all pick up on plans by Marks & Spencer to open 20 large stores and create 3,400 jobs in a bid to rejuvenate its presence on the high street after bumper Christmas trading
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NewsCity snapshot: MP Evans boosted by high palm oil prices and increased production
Sustainable Indonesian palm oil producer MP Evans is expecting “an excellent result” thanks to continuing high commodity prices combined with growing production and crop numbers.
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NewsAcquisitions boost Kettle Foods to £100m in sales for first time
Snack maker Kettle Foods has pushed sales above the £100m mark for the first time thanks to bolt-on acquisitions and increased own-label demand.