Finance news – Page 194
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NewsMedia Bites 1 September: Co-op/Asda, John Lewis, Cake Box
The Co-op’s decision to sell its petrol stations to Asda in a £600m gets plenty of coverage in this morning’s papers.
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NewsPuresport to tackle retail market after beating £1.3m crowdfunding goal
Professional rugby union player Grayson Hart founded Puresport in 2018 to offer drug-tested athletes a natural alternative to opioid-based painkillers.
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NewsAsda agrees £600m deal for Co-op petrol forecourt operations
All 2,300 Co-op colleagues impacted by the deal will transfer to Asda under Tupe rules
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NewsMedia Bites 31 Aug: price inflation, pubs, Arla Foods
The rapidly rising price of food including milk, margarine and crisps pushed August shop price inflation to the highest levels since 2008
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NewsCity Snapshot: Food prices race to 14-year high
Food prices soared to their highest levels for 14 years as mounting pressures on the industry saw strong rises in both fresh and ambient products, according to the latest data. Plus, Asda buys Co-op petrol stations in £600m deal, and Cake Box issues profits warning.
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NewsKerry Group continues ingredients push with $108m acquisition of Kraft Heinz powdered cheese business
The deal for the B2B powdered cheese business – which is part of Kraft Heinz’s ingredients division – includes a factory in Minnesota in the US and 62 employees.
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NewsTree of Life owner Health Made Easy enters administration as health brands sold off
Two health and wellness brands owned by Tree of Life owner Health Made Easy have been sold following the collapse of the group last week
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NewsMedia Bites 30 August: C-stores, energy bills, Co-op, Boots, Waitrose
A round-up of all the news in fmcg across the bank holiday weekend papers.
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NewsCity Snapshot: Asda leads race in £450m sale of Co-op petrol forecourt business
The Co-op has hired advisors to sell its petrol forecourts operation in a bid to raise £450m, with the Issa brothers-owned Asda the front runner to buy the business, according to reports.
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NewsCity News: iFood stake sale is welcome relief for beleaguered Just Eat Takeaway investors
The group announced a deal to sell its 33% stake in the South American food delivery arm to iFood’s majority owner (and one time Just Eat suitor) Prosus for €1.5bn
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NewsYo Sushi owner sees sales jump following retail and kiosk push
Yo Sushi owner Snowfox Group saw a near 50% jump in sales last year, driven by its concerted push into grocery retail and in-store kiosks
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NewsCity snapshot: Hain Celestial blames UK economic struggles for sharp drop in sales
US consumer foods giant Hain Celestial has blamed soaring food prices and falling consumer confidence in the UK for a steep drop in full-year revenues
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NewsMedia Bites 26 August: Asda, Love Hemp, M&S
Asda’s latest quarterly results make headlines in this morning’s papers.
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NewsAsda claims sales going in the right direction despite cost of living crisis
Asda has also expanded its ‘Dropped & Locked’ pricing campaign to include more than 250 products, which will remain for the rest of the year
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NewsTrip secures £10m for mainstream CBD push
CBD start-up Trip has secured a £10m investment to fuel its rapid growth and bring the brand to a mainstream customer base.
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NewsClean Kitchen Club raises £2m-plus for expansion and retail push
Plant-based fast food chain Clean Kitchen Club has raised more than £2m in a joint seed and crowdfunding round to expand the roll-out of its estate outside of London and push the brand into supermarkets.
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NewsWeetabix appoints Nurain Mohamed as head of business finance
Mohamed joins from his previous position as finance director for UK operations at Jacobs Douwe Egberts
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NewsMission Ventures kicks off incubator scheme for healthier startups
The startup consultancy has partnered with non-profit organisation Impact on Urban Health to help 10 healthier challenger brands launch into the mults
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NewsCity snapshot: Delivery Hero first half losses near €1.5bn
German food delivery group Delivery Hero lost almost €1.5bn in its first half after rising marketing, technology and impairment costs increased its losses
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NewsMedia Bites 25 August: CO2, Asda, Lidl
The UK’s biggest carbon dioxide producer said it would close its Billingham plant in north-east England and Asda to remove best-before dates from fruit and veg.