Finance news – Page 129
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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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NewsCity snapshot: ABF sales jump as commodity costs and inflation ease
Associated British Foods grew revenues by 20% in the quarter encompassing Christmas as it benefited from a less volatile inflationary environment, easing commodity costs and ‘resilient’ consumer spending
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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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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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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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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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NewsMedia Bites 23 Jan: Asda/EG Group, Tesco, Morrisons
The billionaire owners of Asda are exploring a merger of the supermarket and their UK petrol forecourts business in a blockbuster deal that would create a retail giant worth more than £10bn
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NewsCity News: Ocado misses out on yearly growth despite Christmas rebound
Ocado shares were rocked this week by its first drop in annual sales
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NewsVibrant Foods brings in new CEO and chair
The South Asian foods specialist has appointed a new leadership team to spearhead further growth under private equity owners Exponent
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NewsLily’s Kitchen revenues soar in post-Covid pet ownership boom
Revenues at the natural petfood brand, which was snapped up by Nestlé in April 2020, shot up 31.6% in the year to 31 March 2022
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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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NewsCity snapshot: UK retail sales fall in December as consumers cut back
UK retail sales volumes fell back in December, according to the Office of National Statistics, as consumers cut back on spending because of inflation
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NewsMedia Bites 20 Jan: Lloyds Pharmacy/Sainsbury’s, Premier Foods, Deliveroo
Lloyds Pharmacy is to pull out of 237 in-store Sainsbury’s branches, potentially putting more than 2,000 jobs at risk
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NewsCity snapshot: Premier Foods Christmas sales jump on grocery growth as it shuts factory
Premier Foods has posted double-digit growth in its crucial third quarter as it announces the proposed closure of its Knighton powdered beverage factory affecting 300 roles. Plus, trading updates from Hotel Chocolat, Deliveroo, Bakkavor and Finsbury Food Group
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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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NewsFlorette owner Agrial reports increased operating losses due to transport and labour issues
The company had a loss of £8.5m from £6.3m and an underlying operating loss of £5.8m for the year ended 31 December 2021
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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