Adnams is to explore an outright sale amid a funding squeeze across the industry which has triggered a growing wave of insolvencies. The brewery has begun contacting prospective investors and buyers after hiring advisers earlier this year to shore up its finances, according to Sky News.
The New York Stock Exchange is trying to persuade Unilever to list its £15bn ice cream business in the US, according to The Mail on Sunday.
Most thirsty people head for the tap or the fridge, but Unilever believes there’s a more effective way to rehydrate: Liquid IV. The group hopes power brand will be liquid gold in the UK, writes The Times (£).
St Patrick’s Day may have been and gone but “the black stuff” is still being drunk in ever-growing quantities, according to Tesco, which reported stout as the fastest-growing beer variety in the UK, with sales rising by 35% over the past year (The Times £). The paper cites The Grocer’s figures from February that BrewDog’s Black Heart was selling nearly 10% as much as Guinness.
Lawmakers in US state capitals are seeking to stifle development of “lab-grown” tuna, pork and other animal proteins, taking a stand against a novel food technology backed by investors such as Bill Gates and Jeff Bezos (Financial Times £).
Anyone cracking open an Easter egg this year may notice two things: not only is it a lot more expensive, it’s also smaller, writes Financial Times (£) in a feature on shrinkflation.
An opinion column in The Telegraph (£) reckons the soaring price of chocolate is proof the markets are as mad as ever. Easter egg meltdown is clear evidence a new asset bubble risks running out of control, the paper writes.
A feature in The Sunday Times (£) looks at how Cadbury’s re-conquered the corner shop. Free chocolate for vendors is only one of the ways this 200-year-old brand has stayed on top, the paper writes before asking if it can keep customers sweet while cutting the sugar.
Supermarkets are facing a backlash over smoked salmon ‘hidden sugar traps’ amid concerns shoppers are unaware of the ingredients going into their breakfasts (Telegraph £).
The Telegraph (£) looks at how Lidl’s breakneck expansion came to a juddering halt, writing that the German juggernaut’s plans to conquer Britain have hit the skids.
Prime minister Rishi Sunak’s plan to introduce a highly complex tax regime for UK wine importers is going to drive up prices, reduce consumer choice and tie up small businesses in red tape, the industry has warned (Financial Times £).
The Times (£) carries an interview with Upfield chief executive David Haines, which took over Unilever’s troubled spreads business.
Supermarkets and high street stores risk penalising older and vulnerable shoppers by reserving their best deals for customers who use smartphone apps, experts have warned (Telegraph £).
British consumers might have faced the sharpest increase in living costs for four decades, but despite the cost of living crisis, concerns over the environment and the treatment of farmers in poorer countries has fuelled a steady increase in ethical shopping (The Guardian).
UK shop price inflation fell below 2% in March for the first time since the start of the cost of living crisis, in a sign that the surge in prices of the past two years is coming to an end (Financial Times £).
The rate of prices growth in stores slowed to 1.3% last month on an annual basis, down from 2.5% in February, the British Retail Consortium and NielsenIQ have reported (The Times £).
Non-food inflation dived to just 0.2% from 1.3% in the previous month, while food inflation fell to 3.7% from 5% (The Guardian).
Food prices fell last month in a boost for households as supermarkets ramped up offers to attract customers (Mail).
The latest figures will fuel hopes that interest rate cuts are imminent (Telegraph £).
A consortium of high-net-worth individuals including Justin King, the former chief executive of Sainsbury’s, has raised £50m to seek acquisitions in the premium restaurant sector (The Times £).
The Sunday Times (£) examines how Covid debt is haunting restaurant chains such as Wahaca and The Breakfast Club.
Several businesses part-owned by Nova Group Holdings, a start-up investment group backed by Sir Terry Leahy, are “insolvent” after the state-owned British Business Bank called in their loans, administrators have said (The Times £).
The Lex column in Financial Times (£) examines the soaring cost of coffee as extreme temperatures and droughts in big bean-producing countries have led to lower harvests.
Chinese tea buyers are disrupting a heated trade spat between Nepal and India that has brought counterfeit Darjeeling into the teapots of unsuspecting consumers (Financial Times £).
Britons are set to head out to high streets, pubs, bars and restaurants this Easter weekend despite the poor weather forecast (The Times £).
A recent increase in retail collapses and store closures “cannot be ignored”, the industry has warned (The Times £).
Busier high streets, rising online sales and an “excellent” Christmas drove up sales at Boots in the last quarter (The Times £).
An article in The Guardian looks at why apple juice is found in so many mixed juices.
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