All articles by Ed Devlin – Page 137
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NewsCity snapshot: Tesco and Booker set to complete £3.7bn merger after formal clearance by CMA
Tesco and Booker have been formally given the go ahead this morning by the competition authority to complete their £3.7bn merger. Plus, Supermarket Income REIT acquires Tesco Extra supermarket in the North Lanarkshire from Legal and General for £50m
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NewsMedia Bites 19 December: Hershey/Amplify, Campbell's/Snyder's-Lance, Majestic Wine, Morrisons
Two mega deals in the US are featured in the papers on a quiet morning for food and drink as things wind down before Christmas.
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NewsCity snapshot: Vimto sales power ahead but Nichols profits held back by Yemen conflict
Healthy Vimto sales have helped Nichols continue to power ahead in the UK, but the conflict in Yemen has affected its international business and held back group profits growth. Plus, Morrisons hires former Unilever executive for board
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NewsCampbell Soup Co buys Kettle and Metcalfe's Skinny owner for $4.9bn
US food group Campbell Soup Company has agreed to buy Kettle Chips and Metcalfe’s Skinny owner Snyder’s-Lance for $4.9bn (£3.7bn) to expand its exposure to the faster growing snacking market.
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NewsOrnua refinance bank funding with €610m package to support growth
Irish dairy Ornua has secured a new five-year funding package of €610m to help support future growth.
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NewsHershey acquires Tyrrells owner Amplify in $1.6bn deal
The deal values Amplify at $12 a share, a 71% premium to the price when markets closed on Friday.
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NewsCity snapshot: P&G hands board seat to activist investor
Consumer goods giant Procter & Gamble has appointed activist investor Nelson Peltz to its board after conceding defeat in a hard-fought proxy battle.
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NewsMedia Bites 18 December: Poundland, P&G, Waitrose, Conviviality
The nationals follow up The Grocer’s story that credit insurer Atradius reduced its cover for Poundland as a result of the crisis at parent group Steinhoff.
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NewsKKR snaps up Unilever spreads division for £6bn
KKR has emerged victorious in the race to buy Unilever’s spreads business, which includes the Flora, Stork and I Can’t Believe It’s Not Butter brands, with a €6.8bn (£6bn)
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NewsBread Holdings heads for sale with soaring sales
Revenues have surged 24% at Bread Holdings as the upmarket bakery group behind the Gail’s chain prepares a sale
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NewsPoundland 'bound' to be sold in 2018
Discount chain Poundland is “bound to be put up for sale” in the new year as its South African owner Steinhoff battles to survive after being rocked by an accounting scandal, retail analysts suggested.
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NewsWilliam Jackson to invest £40m in second bakery to tap food-to-go boom
The new facility has been designed specifically to make bread for sandwich manufacturers and food service customers, with 100 jobs to be created once operational.
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NewsCautious consumers to sap 'sparkle' from Christmas trading - BRC warns
Black Friday deals helped improve shopper footfall in November but depleted consumer confidence could prove a drag on Christmas trading, the British Retail Consortium warned.
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NewsMedia Bites 11 December: Flora, Ocado, Iceland, Steinhoff
Flora margarine is on the verge of changing hands as bidders prepare to submit formal offers for Unilever’s £6bn spreads business, according to reports in the weekend’s papers.
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NewsGraham’s Family Dairy profits fall 9% despite double-digit sales jump
Scottish dairy group Graham’s has boosted annual revenues by 20% but profits declined 9% as margins remained tight amid challenging industry conditions.
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NewsGoldman analysis of Tesco, Morrisons and Sainsbury’s excites City
The fortunes of the three listed grocers are looking up after an unexpected early Christmas present from analysts at Goldman
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News2 Sisters profits hit by site closure and rising commodities
Operating profits at 2 Sisters fell 58% to £8.4m in the 13 weeks to 28 October…
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NewsMedia Bites 8 December: Asda, Steinhoff, Tesco, DS Smith
More than 800 senior Asda shop floor staff are facing a pay cut or redundancy, a report revealed last night.
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NewsCity snapshot: Tesco prices rising faster than industry rivals - GPI
Tesco continued to raise prices faster than its supermarket peers last month, according to the latest Grocer Price Index. Plus, Tesco Clubcard operator Dunnhumby has plunged to a £33m pre-tax loss after a new agreement with its parent company cost the data arm an extra £30m; and Poundstretcher sales fall 7.5% to £397.4m as the chain continued to shrink its store estate
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NewsCity snapshot: Coca-Cola HBC appoints CEO to succeed Dimitris Lois
European Coke bottler Coca-Cola HBC has appointed a new CEO to succeed Dimitris Lois, who died in October. Plus, strong first-half results from packaging giant DS Smith; and Irn-Bru maker AG Barr adds Natures Way Foods CEO Susan Barratt to its board as independent non-exec