Finance news – Page 173
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NewsWhen in Rome returns to crowd as retail distribution for eco-friendly wine grows
Sustainable wine start-up When in Rome has returned to the crowd to raise an additional £400k to support its growing retail listings in the UK as demand picks up for more environmentally friendly packaging in the category
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NewsMackie’s profits melted by surging costs despite record market share
Profits have slumped at Scottish ice cream maker Mackie’s despite the brand boosting market share to its highest-ever level as surging costs squeezed margins.
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NewsSerious Sweets snaps up premium marshmallow brand Mallow & Marsh
Own-label confectionery maker Serious Sweets has continued its acquisition spree with the takeover of premium marshmallow brand Mallow & Marsh.
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NewsCity snapshot: Price rises boost PZ Cussons sales but volumes and margins decline
PZ Cussons has delivered a ’robust’ performance in the first half as its transformation continued. Plus, Cellular Goods reveals its proposed acquisition of CBD player Cannaray has collapsed, and Tate & Lyle unveils a new five-year framework
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NewsBurts Snacks acquired by Kolak owner Europe Snacks
Premium snacks brand Burts has been snapped up by French own label manufacturer Europe Snacks for an undisclosed sum
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NewsMedia Bites 8 Feb: Lidl/Tesco, Carlsberg, Retail sales
Lidl has accused Tesco of “deceiving customers” during a High Court battle over the use of a yellow circle logo
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NewsEl Rayo Tequila secures £870k investment to fund UK growth
London-based premium tequila brand El Rayo has raised £870k in new funding as it aims to double sales in 2023
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NewsGousto taps investors for additional £50m amid ‘volatile’ market conditions
Recipe kit brand Gousto has raised £50m in additional funding from its investors to help the business navigate the current challenging economic environment.
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NewsCity snapshot: Shoppers cut back grocery spending post-Christmas
British shoppers are reining in grocery spend post-Christmas, as UK supermarkets experienced a continued decline in volume sales during January
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NewsMedia Bites 7 February: Gousto, apprentice levy, M&Co
Gousto has cut its valuation after raising tens of millions of pounds in additional funding to steer it through a volatile economic period, according to reports this morning.
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NewsFaace closes six-figure crowd round to fuel growth of ethical skincare brand
The start-up launched in 2020 and makes a range of products in a tube specifically targeted to help women during periods and the menopause.
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NewsIceland remains ‘incredibly well positioned’ despite supplier credit concerns
Iceland said only a handful of suppliers would be affected by Coface’s decision to suspend credit insurance
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NewsMedia Bites 6 February: Iceland, Morrisons/Tesco, Unilever
A leading credit insurer has pulled cover for suppliers to Iceland as the jump in energy costs piles pressure on the frozen food chain ahead of a crunch refinancing
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NewsCity snapshot: Urgent reform needed for ‘broken’ apprentice levy
The government’s apprentice levy system is ‘broken’ and needs ‘urgent reform’, according to a letter from four trade bodies.
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NewsCity News: Market struggles to untangle implications of Bestway’s Sainsbury’s investment
Bestway’s shock investment in Sainsbury’s last week sent City tongues wagging and the supermarket’s shares to 11-month highs as the market attempted to decipher the implications
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NewsThis named fastest-growing food brand in Fast 50 ranking
The brand’s rapid growth and heavy investment has propelled it to the top of Alantra’s annual Fast 50
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NewsWyke Farms sees sales and profit rise, despite soaring costs
The supplier said the cost of producing cheddar had doubled since the start of its accounting period
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NewsCity snapshot: Retail footfall recovers as workers and tourists return
Retail footfall continues to recover towards pre-pandemic levels in January as the return of office workers and international tourists boosted high street numbers
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NewsMedia Bites 3 February: Amazon, Avara Foods, Bank of England
The latest Amazon results and the latest interest rates hikes by the Bank of England make headlines this morning
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NewsSykes Seafood saves 120 jobs in Big Prawn Co pre-pack administration deal
Big Prawn, which supplied natural and added-value shellfish products to UK retailers, wholesalers and foodservice, appointed restructuring specialist Kroll Advisory as administrator on 27 January 2023.