Finance news – Page 110
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NewsABF buys UK milk records firm for £48m
Associated British Foods has announced it will bolt on National Milk Records to its AB Agri arm after agreeing a £48m deal to acquire the UK company. Plus, monthly retail updates from BRC-KPMG and Barclays, and trading updates from Poundland owner PepCo and BAT
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NewsMedia Bites 6 June: Unilever, inflation, Diageo
Unilever has begun a search to replace chair Nils Andersen in the latest stage of a leadership shake-up
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NewsWalkers Leicester factory in line for mega cash injection
The investment aimed to ‘future-proof’ the Leicester site, allowing PepsiCo to ‘deliver on our ambitions on packaging and health’
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NewsVegan foods manufacturer Plant & Bean falls into administration
Meat alternatives supplier Plant & Bean has filed for administration after soaring costs and operational disruptions hit trading
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NewsCity snapshot: Debra Crew takes up Diageo CEO role a month early
Incoming Diageo CEO Debra Crew has started as interim CEO today due to the illness of current CEO Sir Ivan Menezes
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NewsMedia Bites 5 June: Asda, Butternut Box, Morrisons
The £450m being invested into the Asda acqusition of EG Group comes from the supermarket’s own assets
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NewsMontezuma’s Chocolate rescued by Paramount Retail Group
The confectionery maker and retailer has been rescued in a deal that sees the chocolatier’s founders return to the business
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NewsCity News: B&M boosted by cost-conscious shoppers as sales soar
The rise of cost-conscious shoppers has bolstered B&M’s annual sales to almost £5bn, sending its share price soaring this week
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NewsCharlie Bigham’s growth surges but input costs hit hard
Charlie Bigham’s has continued its post-pandemic growth surge, but margins have been hit by delays passing on soaring input inflation to retailers and shoppers
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NewsOscar Mayer is taken over by lender following financial restructure
UK ready meals supplier Oscar Mayer has been taken over by its institutional lender following a financial restructuring, documents show
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NewsValeo continues to build leadership team with new CFO
Valeo Foods Group has announced Louis-Francois Gombert will join as group CFO as it continues to build out its senior management team
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NewsNew healthy food wholesaler Dundeis acquires Minton’s Good Foods
A new healthy food distributor started by former Tree of Life employees has acquired Welsh wholesaler Minton’s Good Foods as it continues to build capability ahead of a full launch later this year.
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NewsCity snapshot: PayPoint profits at top end of expectations after ‘positive’ year
Payments specialist PayPoint has grown revenues by £10m last year and said profits will be at the top end of expectations
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NewsBelazu adds miso to line up with Miso Tasty acquisition
Miso Tasty founder Bonnie Chung remains part of the business and is working with Belazu on the integration and transition, while all staff have also transferred across to the new owner.
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NewsMedia Bites 2 June: Recycling, UK manufacturing, Farming
Britain’s biggest retailers and food manufacturers are stepping up lobbying on the government to delay landmark environmental reforms
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NewsCity snapshot: Rémy Cointreau reports profits rise but warns of US slowdown
Rémy Cointreau has reported a double-digit jump in sale and profits last year, but warned sales growth will be wiped out in the current financial year by a sharp slowdown of consumption in the US
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NewsMedia Bites 1 June: Iceland, price cap, inflation, petrol prices, B&M, WH Smith
There’s plenty of variety in this morning’s papers when it comes to fmcg stories.
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NewsSerious Sweets acquires rock maker John Bull Confectioners
Serious Sweets has continued on the acquisition trail, having bought premium marshmallow brand Mallow & Marsh in February
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NewsGovernment declared ‘not fit for purpose’ over price cap plan
Supermarket and supplier bosses are understood to be fuming over the plans, which were leaked to the Daily Telegraph at the weekend
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NewsMedia Bites 31 May: Asda/EG Group, price caps, Unilever
The billionaire Issa brothers have agreed to sell EG Group’s UK and Ireland petrol and forecourt operations to Asda in deal that will add £770m in new loans to the business empire’s heavy debts