All articles by Ed Devlin – Page 112
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NewsDeal watchdog blocks Crowdcube and Seedrs merger over competition concerns
Following an in-depth phase 2 investigation, the Competition and Markets Authority (CMA) concluded in its provisional decision that the deal would reduce competition and innovation.
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NewsCity snapshot: Prices unexpectedly tumble in February as lockdown drags on
The rate of UK inflation has taken an unexpected fall in February as a result of continued discounting on clothes as retailers attempt to generate consumer interest as lockdown wears on. Food prices also fell again as the supermarkets battled it out over price.
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NewsGeneral Mills returns European Yoplait business to Sodiaal
The group has sold its 51% controlling stake in exchange for full ownership of the Canadain Yoplait business
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NewsMedia Bites 23 March: Deliveroo, Mondelez/Grenade, exports, Kraft Heinz
The papers cast a cynical eye over Deliveroo’s £9bn valuation and also take a look at Mondelez’s move into healthier snacking with the Grenade deal.
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NewsMondelez adds to UK snacking portfolio with acquisition of Grenade
The terms of the deal were not disclosed but Mondelez’s significant majority stake is understood to have valued the protein bar supplier at around £200m.
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NewsMoju boasts UK first as VC arm of Danone leads £2.5m investment
It is the first investment in a UK-based business for Danone Manifesto Ventures, which launched in 2016 and backs innovative food and food-tech companies.
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NewsCity Snapshot: Deliveroo valued at up to £8.8bn in upcoming float
Deliveroo could be worth almost £9bn in its upcoming IPO after the food delivery service set its share price range higher than had been previously expected.
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NewsEx Thorntons chair regrets sale to Ferrero
Ferrero this week said the remaining 61 Thorntons shops would not reopen when lockdown lifts next
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NewsMission secures £1.6m investment to brew up expansion plan for energy tea brand
The funding round was led by former and current executives at BrewDog, Cadbury, HelloFresh, Allplants, Graze, KP Snacks and Tails.com, alongside England cricketers Michael Vaughan and Heather Knight.
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NewsMedia Bites 18 March: SSP, Danone, Ocado
SSP Group, the airport and railway caterer behind Upper Crust and Caffè Ritazza, predicted that passenger numbers would not return to pre-Covid levels until 2024 as it tapped its shareholders for £475m of new funding.
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NewsCovid puts an end to strong growth at Trewithen Dairy
Latest accounts for parent company Cornish Farm Dairy, for the year ended 30 April 2020, showed revenues declined 6% to £52.1m as the first national lockdown led to a collapse of its foodservice, hospitality and tourism business at the tail end of the accounting period.
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NewsThe Cheesecake Shop to rebrand after MBO
The buyout, led by Neil Blakeman and Dillan Shikotra, includes eight retail stores across the region, as well as the bakery in Nottingham.
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NewsBurleighs Gin raises £250k to support new product launches
The Leicestershire brand, which produces a core range of four London dry gins, secured the investment from the Midlands Engine Investment Fund
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NewsJiffy bags £2.6m funding to launch online supermarket
The company’s first dark store will open in London this month offering a total range of 2,000 SKUs
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NewsCity snapshot: SSP Group launches £475m rights issue as it readies for slow Covid recovery
Upper Crust owner SSP Group is planning to raise £475m from shareholders in a rights issue to strengthen the balance sheet and prepare for a recovery from the coronavirus pandemic as lockdown restrictions begin to lift. Plus, Dutch dairy company FrieslandCampina agrees jv with Egyptian cheese maker to focus on the exports to Africa and the Middle East. And Science in Sport reports full-year results.
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Comment & OpinionThorntons must rely on more than nostalgia to recover from Covid closures
The 110-year-old brand yesterday joined the depressingly long list of big names calling time on bricks and mortar to focus entirely online
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NewsMedia Bites 16 March: Thorntons, Iceland, Danone, Deliveroo
The decision by Thorntons to close all 61 of its physical stores after suffering through the Covid pandemic is covered by the papers this morning.
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NewsFarmer Connect raises $9m to meet surging supply chain demand
The investment would be used to capitalise on demand for sustainable, inclusive and efficient agriculture supply chains
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NewsThorntons to permanently close all stores to focus online
Chocolatier Thorntons is set to disappear from the high street following a decision to close down its remaining network of 61 stores, putting more than 600 jobs at risk.
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NewsUlrick & Short snapped up by Swedish investment house Novax
Based in Yorkshire, Ulrick & Short supplies food manufacturers with a wide range of clean label and plant-based ingredients.