Finance news – Page 103
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NewsJDM Food Group to create international ‘flavour powerhouse’ in Henry Broch Foods merger
UK garlic and ginger specialist JDM Food Group has agreed a merger with US spice processor Henry Broch Foods to create an international ingredients group with combined revenues of close to £100m and more than 750 employees
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NewsOfgem must tackle ‘rogue brokers’ overcharging small businesses, say trade bodies
New letter demands that energy brokers be more transparent in the commission fees charged to small businesses
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NewsThe Chilli Mash Co launches £100k crowd round for sustainable chilli farm
The hot sauce maker has kicked off a crowd fundraising round to expand operations and support the establishment of a state-of-the-art chilli farm in Rwanda
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NewsDrinkWell secures £600k backing to expand reduced calorie alcohol marketplace
Online drinks retailer DrinkWell has secured £600k investment to drive its development of a marketplace for ‘better choice’ alcohol
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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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NewsMedia Bites 24 July: Asda/Morrisons, Ocado, Wilko
Private equity backed supermarkets Asda and Morrisons did not pay a penny of corporation tax last year
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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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NewsPlanet Organic to review all ranges as part of rebuild under Renée Elliott
Elliott is currently writing a business plan for the financial year from September
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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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NewsPret a Manger results reveal return to profitability
Pret is often seen as a barometer for the health of the UK’s high streets