Finance news – Page 376
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NewsCauli Rice maker Fullgreen in funding push for US expansion
Alternative rice producer Fullgreen has launched yet another fundraising round to underpin its push into the US and compete in the booming free-from sector.
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NewsEdrington annual sales soar on booming demand for premium brands
Scottish spirits stalwart Edrington reported an “industry-leading” rise in annual revenues on the back of soaring demand for its premium-end whisky.
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NewsM&S and Ocado shares hit by Tesco Finest possibility
Tesco CEO Dave Lewis may have only made brief mention of the possibility of Tesco creating an upmarket convenience store offering, but the City quickly took it as a threat to Marks & Spencer and Ocado’s new partnership.
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NewsExponent confirms deal to buy Asian food wholesaler TRS
Private equity player Exponent has confirmed a deal to acquire specialist Asian food wholesaler TRS Foods as it readies a consolidation push.
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NewsKarro Food Group losses continue to grow under CapVest
Newly filed accounts in Companies House show pre-tax losses for the year to 29 December 2018 rose to £9.2m…
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NewsTurkish food importer TFC buys London-based wholesaler Starburger
TFC Holdings London has snatched catering sector wholesaler Starburger for an undisclosed sum, completing what it described as its “first major acquisition”.
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NewsMeatsnacks Group slips further into red before buyout
The maker of Wild West Jerky, Hogbites Pork Crackling and Bundu Biltong reported a rise in pre-tax losses to £584k in the previous financial year
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NewsCity snapshot: Cost inflation and weak pork market drive losses at Karro
Losses continued to mount at pork giant Karro Food Group in its first full year under CapVest ownership, plus all the rest of the latest news from the City.
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NewsMedia Bites 21 June: Domino’s Pizza, Brexit, Kraft Heinz
Domino’s Pizza Group is in advanced talks to replace its chief executive amid unrest among its British franchisees and a disappointing recent share price performance, according to Sky News.
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NewsMorrisons promises no job losses in transfer of staff to Wincanton
The retailer is outsourcing its transport department at three sites and five vehicle maintenance departments
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NewsUK retail sales dip in May as rain dampens growth
UK retailers saw sales fall back last month as April’s record-breaking temperatures gave way to wetter weather in May.
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NewsKroger suffers first quarter earnings slump
Kroger, the largest pure-play grocery chain in the US, has posted a 62% slump in profits for the first quarter of 2019, due to lower gains on business sales and lower gross margins in its pharmacy business.
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NewsMondelez takes majority stake in US fresh-from-fridge energy bars maker Perfect Snack
Mondelez has agreed to acquire a majority stake in refrigerated protein bars maker Perfect Snacks as it looks to expand its healthy snacking portfolio.
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NewsEnergy bar producer Wholebake rescues Bounce Foods from administration
Gluten-free snack manufacturer Wholebake has acquired Bounce Foods for an undisclosed sum, rescuing the Surrey-based brand from administration.
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NewsCook in plan to add 150 concessions in current financial year
Cook has put 181 freezers into 45 convenience stores over the past 12 weeks
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NewsCity snapshot: Online and discounters to drive 12.5% UK grocery market growth by 2025
The UK grocery industry is set to grow by £24.1bn by 2024 driven by surging online and discounter sales according to a report from IGD. Plus all the rest of the latest news from the City.
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NewsMedia Bites 20 June: Tesco, M&S, Ocado
Hundreds of Tesco staff made redundant last month were underpaid or overpaid, prompting the supermarket to ask some to return money.
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NewsFood and grocery sales to rise 12% by 2024, predicts IGD
Discounters predicted to make up £4 in every £10 growth over the next five years
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NewsOcado sells beauty retailer Fabled to Next as focus shifts to M&S deal
Ocado has sold beauty and wellbeing retailer Fabled to FTSE 100 fashion firm Next, as the online grocer plans to shift its focus to the joint venture inked with Marks & Spencer.
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NewsTesco to repurpose excess store space to expand in-store picking
Lewis also confirmed Tesco was considering the idea of launching standalone Finest convenience stores