Finance news – Page 248
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NewsItalian food group Newlat acquires branded supplier Symington’s
Family-owned Italian dairy and pasta group Newlat Food has agreed a deal to buy Ragu and Chicken Tonight manufacturer Symington’s
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NewsDavid Milner steps down as Lily’s Kitchen CEO
Milner left the business at the end of June after deciding to step down from the business to focus on new opportunities
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NewsPepsiCo sells Tropicana and Naked juice brands to PAI Partner for $3.3bn
PAI will take a 61% holding in the likes of Tropicana and Naked, as well as other brands, with PepsiCo retaining a 39% stake
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NewsCity Snapshot: The Hut Group acquire Cult Beauty for £275m
E-commerce giant The Hut Group has expanded its beauty portfolio with the £275m acquisition of online prestige retailer Cult Beauty.
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NewsSnacking group Wholebake acquired by private equity firm
Cereal bar maker Wholebake has been snapped up by new private equity owners as investors continue to target the healthier snacking category.
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NewsMedia Bites 4 August: PepsiCo, Greggs, Domino’s
PepsiCo has agreed to sell a controlling stake in its Tropicana and Naked Juice brands to French private equity firm PAI Partners for $3.3bn
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NewsPilgrims Choice owner Ornua Foods UK posts ‘strong’ pandemic results
The UK arm of Irish dairy co-op Ornua saw sales grow by £57m, with pre-tax profits growing by £1.1m
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NewsCity snapshot: Greggs to create 500 jobs as first half sales and profits rebound
Greggs has bounced back to first half profitability as sales recovered due to the relaxation of coronavirus restrictions
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NewsMedia Bites 3 August: Morrisons, Bolt, Heineken, Chapel Down
Shares in Morrisons hit their highest level since 2013 yesterday as investors prepared for a bidding war between two private equity groups.
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NewsMorrisons faces break-up risk in private equity takeover, analysts warn
Bernstein said it “struggled to see the returns [for a buyout group] of the current offer without significant asset sales”
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NewsApple grower Bardsley England acquired by listed agriculture group Camellia
Bardsley England is the UK’s second largest apple grower and also has operations focusing on pears, cherries, plums and grapes
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NewsCity Snapshot: Heineken recovers from Covid crisis but warns of rising costs
Profits have more than doubled at Heineken as sales at the Dutch brewer recovered as pubs and bars reopened following extended global lockdowns. Plus, global agriculture group Camellia has acquired an 80% stake in apple grower Bardsley England, and Domino’s Pizza Group non-exec steps down.
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NewsMedia Bites 2 August: Morrisons, Deliveroo, Milk
Private equity giant Clayton, Dubilier & Rice is poised to kick off a bidding war for Morrisons
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NewsCity News: Reckitt Benckiser shares tumble as it warns of mounting cost pressures
Reckitt Benckiser was the latest consumer goods giant to warn of the pressures of mounting costs this week as its share price tumbled on inflationary concerns
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NewsFood and drink M&A declines after rush of pre-Budget activity
According to Grant Thornton’s quarterly review of the UK food and drink M&A market, deal volumes slumped by 47% from the first quarter
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NewsZero-based budgeting helps LRS deliver improved profits
The soft drinks supplier’s sales fell 9.5% in the year to 31 December 2020
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NewsCity snapshot: Kerry Group sales and profits rise as foodservice rebounds
Kerry Group has reported a strong rise in revenues and profits in the first half of its financial year as it continues to shake-up its portfolio
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NewsMedia Bites 30 July: Morrisons, Arla, Diageo
M&G Investments has joined the growing list of big investors that have rallied against the sale of Morrisons to a Fortress-led consortium
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NewsSmall Giants closes £400k funding round to bring insect snacking to the mainstream
Insect-based snacks start-up Small Giants has closed an investment round of more than £400,000 to supports its growth across the UK and Europe.
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NewsFitbakes eyes retail expansion after hitting crowdfunding target
The business, founded by nutritionist Ella Rauen-Prestes in 2018, will use the money to help support a slated launch in 1,000 Tesco Express stores as part of its meal deal offering in the third quarter of 2021.