All articles by Ed Devlin – Page 140
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Media Bites 12 July: M&S, PepsiCo, Coke, Aldi
The papers put Marks & Spencer firmly in the spotlight following its first quarter update yesterday. M&S suffered a dip in like-for-like sales in the three months ending in July as it cut back on discounts but overall revenues increased thanks to further food store openings.
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City snapshot: Tesco to face in-depth phase 2 investigation into £3.7bn Booker merger
The Competition and Markets Authority said this morning that shoppers could face “worse terms” when buying groceries in more than 350 local areas where there is currently an overlap between Tesco shops and Booker-supplied symbol stores. Plus, strong first quarter for B&M Bargains as rising prices drive shoppers into its shops; SSP Group reports soaring sales in the third quarter; and debit card payments overtake cash in the UK
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Adelie Foods enters redundancy talks with 180 staff as it continues recovery
The sandwich maker is proposing to transfer production from its facility in Middlesbrough to other factories within the group, as well as relocating its Midlands distribution centre from Leicester to Tamworth.
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Exporters to feast on growth in food and drinks industry after Brexit
The UK food and drink industry is set for strong future growth on the back of global demand for British produce, despite concerns over the impact Brexit could have on staffing levels in the sector, according to an upbeat report by EEF and Santander.
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Food and drinks manufacturing deals slump by a quarter in 2016
M&A activity in the UK food and drinks manufacturing sector slumped last year as the fallout from Brexit squeezed profits and put off buyers, according to a new report.
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Pukka Herbs slips into the red as it invests in growth
Rapidly growing herbal tea brand Pukka Herbs has slipped into the red as it invested in accelerating growth
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Seabrook Crisps extends export reach with Aldi Australia deal
The Yorkshire crisp brand has focused on growing overseas sales since the management team took over in 2015…
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Northern Bloc to ramp up production with growth funding
Since launching its first ice cream from a vintage van at Leeds Trinity Kitchen in 2014, Northern Bloc has grown rapidly and is on course to generate turnover of more than £1m this year.
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Media Bites 6 July: Ocado, Booker, Tesco Clubcard
Ocado’s latest results are picked up by the papers this morning, alongside the first-quarter update from Booker.
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City snapshot: Reckitt warns sales to fall after cyber attack disrupted orders
Dettol and Durex maker Reckitt Benckiser warned its sales have been hit by the global cyber attack that struck companies across the world last month. Plus, a better-than-expected Q3 for ABF; a new CEO at Just Eat; an quarterely update from cider maker C&C; forecourt Applegreen makes its first big move in the US; and Eagle Eye renews Asda contract.
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Canny secures £100k from the crowd to reformulate and target big four listings
Canny plans to use the cash to launch a reformulated version of its chocolate milkshake sweetened with agave and to target supermarket listings.
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Media Bites 5 July: Sainsbury's, Superdrug, Tesco Bank, Worldpay
Sainsbury’s positive first quarter results draws plenty of attention as the supermarket continued its pursuit of Nisa; Superdrug benefitted from the Kardashian effect as sales and profits soared, Tesco Bank CEO Benny Higgins is stepping down after a decade in charge; and Worldpay shares soar as it reveals advances from two US suitors.
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City snapshot: Ocado profits tumble as it continues to invest in growth
First-half sales at Ocado rose 12.5% to £713.8m but profits at the online grocer fell almost 20%, basket sizes continued to decline and the debt pile ballooned. Plus, Booker updates on its first quarter ahead of AGM, and grocery inflation continues to rise, according to the BRC-Nielsen shop prices index.
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Innocent back in the black as exports make up majority of total sales
Innocent also bounced back into the black in 2016, with profits of £8.5m compared with a £700,000 loss in the previous year as it increased investments in European markets and NPD.
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Around Noon expands UK presence with Chef in a Box deal
The purchase of Chef in a Box from Donegal Investment Group will allow Around Noon to gain a strong foothold in greater London and provide a platform for further UK expansion.
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Ole & Steen set for UK roll-out under new ownership
Danish bakery chain Ole & Steen, which opened its first international store in London at the end of 2016, has been acquired by a new private equity owner for an undisclosed sum.
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Media Bites 3 July: McColls/Sainsbury's/Nisa, Pizza Express, Innocent
McColls has emerged as the unlikely kingmaker in Sainsbury’s swoop on Nisa, according to the weekend’s papers.
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City snapshot: Danone agrees $875m Stonyfield sale to French dairy rival Lactalis
Danone has agreed to sell US organic yoghurt brand Stonyfield to its French rival Lactalis for $875m (£672.5m)
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MBO team at Thomas J Fudge's moves on following review
The management team behind a buyout at Thomas J Fudge’s Remarkable Bakery have sold their stakes and left the brand amid a shake-up by private equity backer Livingbridge, The Grocer can reveal.