Finance news – Page 507
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NewsMedia Bites 17 July: Unilever, Reckitt Benckiser, Premier Foods, Amazon
Unilever is locked in a £2bn battle with Hormel Foods, the US owner of Spam, to buy Reckitt Benckiser’s food business, according to the weekend papers.
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NewsCity snapshot: Profits soar at Conviviality as Bibendum beds in
Profits have more than doubled at Bargain Booze owner Conviviality (CVR) as the integration of Matthew Clark and Bibendum continued ahead of schedule. Plus, growth overseas helps Finsbury Food Group offset UK struggles and Stock Spirits acquires a 25% stake in Quintessential Brands Group’s Irish whiskey division for up to €18.3m (£16m).
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NewsGist buys 80,000 sq ft distribution centre near Motherwell
Move is part of a drive to step up its temperature-controlled food logistics operations…
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NewsKennelpak picked up by PE firm Endless' Enact fund
Kennelpak is headquartered in Nottingham, where it employees 275 staff, and generated sales of more than £23m in the year ended 31 March 2017.
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NewsHolland & Barrett profits under pressure from supermarkets
Holland & Barrett’s UK retail sales rose 4.6% in the year before its £1.8bn takeover by a Russian billionaire
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Marks & Spencer puzzles analysts with sales fall
The market was left distinctly unimpressed this week by Marks & Spencer’s first quarter organic sales fall
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NewsNoble delays IPO to focus on rebuilding sales and profitability
Happy Egg Co owner Noble Foods has put its mooted IPO on ice as it focuses on regrowing revenues
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NewsNisa members 'wait and see' over Sainsbury's takeover
Exclusive new research for The Grocer reveals more Nisa retailers are in favour of a deal than against it, but still all to play for
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NewsCity snapshot: Happy Egg owner Noble Foods shelves IPO plans on falling sales and profits
Noble Foods, the owner of Happy Egg and Gü Puds, has postponed a mooted IPO to concentrate on rebuilding its top line after significant restructuring last year.
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NewsMedia Bites 14 July: Morrisons, Cargill, Target, Sports Direct
Morrisons is the first ‘big four’ supermarket to commit to selling only British fresh meat throughout the year as part of a strategy to offer more locally sourced products.
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NewsLiquidators appointed at scandal-hit Hebridean Sea Salt
Hebridean Sea Salt is set to be liquidated after being embroiled in a scandal over the authenticity of its product.
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NewsWelsh food and drink exports soar by almost 20%
Exports from Welsh suppliers hit £337.3m, up 19.8% year on year, according to Welsh government data
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NewsOxfam report slams Reckitt Benckiser over tax: at a glance
A new report by the charity is critical of multinationals it claims do not pay their ‘fair share’ of tax globally
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NewsMedia Bites 13 July: Tesco/Booker, B&M Bargains, Wetherspoons
The long-expected phase 2 investigation into the £3.7bn Tesco and Booker merger generates plenty of column inches in today’s papers.
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NewsCity snapshot: Reckitt Benckiser denies avoiding £60m of taxes in developing nations
Reckitt Benckiser has denied accusations of tax avoidance in developing countries as charity organisation Oxfam publishes a report highlighting the household goods manufacturer as an example of a multinational not paying its “fair share”. Plus, the newly demerged Metro Group starts trading shares.
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NewsTasties of Chester rescue deal saves 188 jobs as former Adelie CEO takes over business
Almost 200 jobs have been saved at food-to-go operator Tasties of Chester after former Adelie Foods CEO Gavin Cox put together a rescue deal with administrators.
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NewsB&M benefits from late Easter and sunshine as shoppers hunt for bargains
B&M Bargains has recorded its strongest first quarter of like-for-like growth in three years as the late Easter and hot weather boosted sales and the return of inflation sent shoppers searching for a bargain.
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NewsSSP Group sees sales grow as air passenger numbers rise
Travel concession operator SSP Group has reported like-for-like sales growth of 3.6% in its third quarter results and a 21.7% jump in total group revenues.
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NewsSupermarket real estate transactions on the up, data reveals
Real estate transaction volumes in the supermarket sector increased by 20% in the first half of 2017
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NewsWaitrose hit by £41.5m property writedown cost
The retailer focused on improving its existing estate rather than aggressive expansion in the past year