Consumer products group 151 Products has acquired the business and assets of Swirl Products, which trades as Fmcg, out of administration.
The business behind the Escenti, Head Funk, Nuage, Salon Chic and Active Handwash brands was forced to appoint restructuring and advisory firm FRP Advisory earlier this month after suffering an “acute shortfall” in cashflow.
New owner 151, and its investment arm b7 Ventures, said the rescue deal would allow further investment into the Fmcg business.
It’s a quiet start to the week today, which will heat up with results from Morrisons, Marks & Spencer and Associated British Foods.
The Grocer reports this morning that Tea and coffee producer Drury Tea and Coffee has invested in new coffee equipment after securing a £500,000 bank loan from Lloyds Commercial Banking (read the full story here).
Agriculture and retail group Wynnstay has completed the agreement with T. G. Jeary Ltd for the acquisition of its West Country farm supplies operation, Agricentre, first revealed on 19 October.
The FTSE 100 has opened 0.5% down to 6,327.8pts this morning after Asian markets fell on weak China factory data.
Most stocks are trending down this morning, with tobacco firms Imperial Tobacco (IMT), down 1$ 5o 3,464p, and British American Tobacco (BAT), down 0.8% to 3,827p, amongst the bigger fmcg fallers.
The week in the City
The week kicks off in earnest tomorrow with full-year results from Primark owner Associated British Foods (ABF) and Imperial Tobacco Group (IMT).
Wednesday brings half year results from Marks & Spencer (MKS), while internationally there are trading updates from Whole Foods and Sodastream.
Then on Thursday we get another look at how life under David Potts is going from Morrisons (MRW) as fresh from selling off its M Local convenience chain is reveals its third quarter numbers.
Also on Thursday Coca Cola HBC (CCH) will reveal 3rd quarter figures, Dairy Crest (DCG) has its half year earnings release and Tate & Lyle (TATE) will update the market on its half year trading. Internationally, MillerCoors and Kraft Heinz have Q3 updates, while Brazilian Food Group Marfrig issues its third quarter numbers on Friday.
In economic news, this week sees the publication of this month’s PMI figures – this morning is manufacturing, with construction, composite and services through the week.
Wednesday brings the BRC Shop Price Index, while Thursday sees the publication of the latest Bank of England Inflation Report and the minutes of its meeting to hold interest rates at 0.5% yet again. Balance of trade figures are out on Friday as well as official UK industrial production and manufacturing numbers.