All articles by Ed Devlin – Page 92
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NewsKitwave profits better than expected as Covid recovery gains momentum
Kitwave has upgraded profit expectations as trading recovered to pre-pandemic levels and the wholesaler escaped the worst of the HGV driver crisis
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NewsMedia Bites 26 November: Huel, alcohol/crisps shortages, Greencore, Rémy Cointreau
The plant-based meal replacement maker Huel has hired bankers to advise on an initial public offering in London after a surge in popularity for its products in the pandemic fitness boom.
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NewsPatrick Coveney leaves Greencore to join SSP Group as CEO
Greencore CEO Patrick Coveney is to leave the food-to-go specialist to take the reins at SSP Group
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NewsMedia Bites 25 November: Alcohol shortage, Lidl, Britvic
Britain is facing a Christmas alcohol shortage unless the government does more to address the lack of HGV drivers, a group of 48 wine and spirits companies have told the transport secretary.
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NewsGeneral Mills sells European dough business and Jus-Rol brand to Cérélia
General Mills has continued to streamline its portfolio of food assets with an agreement to sell its European dough businesses, which includes the Jus-Rol brand.
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NewsCity Snapshot: Lidl targets 1,100 stores by 2025 as sales and profits rise
Lidl has committed to opening another 235 stores across the UK, creating up to 4,000 jobs. Plus, Britvic reveals 12% dividend following ‘strong’ recovery from the pandemic.
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NewsThe Real Olive Company seeks wider retail listings for NPD as it beats £200k crowdfunding goal
The producer of fresh, organic olives, olive oils and antipasti is overfunding for another two weeks and has currently raised more than £250k from 350 investors.
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NewsMedia Bites 23 November: M&S, Gusbourne, John Lewis
Marks & Spencer has bought a 25% stake in trendy womenswear brand Nobody’s Child as moves to revive its clothing arm gather pace.
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NewsCity Snapshot: Marks & Spencer shares soar on private equity takeover rumours
Rumours have begun to swirl around Marks & Spencer, with speculation emerging over a potential offer from a US private equity firm, the departure of CEO Steve Rowe and the long-term future of the joint venture with Ocado.
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NewsCity News: Premier Foods weathers mini sell-off as it faces tough comparatives
As consumers returned to out-of-home eating, the business came up against last year’s Covid-elevated figures.
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NewsUnilever offloads global tea business to CVC in €4.5bn deal
The European private equity firm saw off competition from rival investment houses Advent and Carlyle in an auction that concluded yesterday afternoon. Unite called for urgent talks with Unilver about the sale.
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NewsUFit seeking funding for expansion plans
The process is still in its early stages, with advisors at Stamford Partners having sent out a teaser document to a range of potential buyers and investors
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NewsLyre’s valued at £270m in largest funding round for the alcohol-free brand
Alcohol-free spirits brand Lyre’s has closed its largest funding round to date as investors and consumers continue to drive a boom in the low & no drinks category
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NewsFearne & Rosie kicks off £250,000 raise
It will deploy the money in raising brand awareness, in-store activation and bringing new talent to the startup.
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NewsMedia Bites 19 November: Unilever, Walkers, Naked Wines, M&S
Unilever’s tea sell-off is in focus in the papers this morning, alongside an ongoing crisp shortage and a new partnership for M&S and Costa.
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NewsCity Snapshot: Unilever sells global tea business to CVC Capital Partners for €4.5bn
Unilever’s tea business, Ekaterra, is home to a portfolio of 34 brands, including PG Tips, Lipton and Pukka.
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NewsMedia Bites 18 November: Supply shortages, M&S, inflation
Greggs is struggling to keep its hot shelves stocked with vegan sausage rolls and bean and cheese melts amid lingering supply chain turmoil.
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NewsCity Snapshot: Naked Wines shares sink as it warns of lower sales as customers return to bars and restaurants
Online wine retailer Naked Wines has warned sales for the year will be lower than forecast as consumers returned to bars and restaurants and drank less at home. Plus, Finsbury Food Group and Eagle Eye both issue trading statements ahead of AGMs.
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NewsMedia Bites 17 November: Premier Foods, Diageo, Imperial Brands, Yo! Sushi
The papers take a closer look at Premier Foods’ plans to push Mr Kipling in the US, alongside of new ambitions for Diageo and results at Imperial Brands.
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NewsCity Snapshot: McColl’s warns profits to miss forecasts as supply chain disruption intensifies
Embattled convenience group McColl’s has warned its profits will be even lower than expected this year after supply chain issues intensified in the fourth quarter. Plus, UK inflation rises sharply to highest rate in almost a decade.