All articles by Ed Devlin – Page 151
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NewsMedia Bites 17 July: Unilever, Reckitt Benckiser, Premier Foods, Amazon
Unilever is locked in a £2bn battle with Hormel Foods, the US owner of Spam, to buy Reckitt Benckiser’s food business, according to the weekend papers.
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NewsCity snapshot: Profits soar at Conviviality as Bibendum beds in
Profits have more than doubled at Bargain Booze owner Conviviality (CVR) as the integration of Matthew Clark and Bibendum continued ahead of schedule. Plus, growth overseas helps Finsbury Food Group offset UK struggles and Stock Spirits acquires a 25% stake in Quintessential Brands Group’s Irish whiskey division for up to €18.3m (£16m).
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NewsKennelpak picked up by PE firm Endless' Enact fund
Kennelpak is headquartered in Nottingham, where it employees 275 staff, and generated sales of more than £23m in the year ended 31 March 2017.
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NewsCity snapshot: Happy Egg owner Noble Foods shelves IPO plans on falling sales and profits
Noble Foods, the owner of Happy Egg and Gü Puds, has postponed a mooted IPO to concentrate on rebuilding its top line after significant restructuring last year.
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NewsMedia Bites 14 July: Morrisons, Cargill, Target, Sports Direct
Morrisons is the first ‘big four’ supermarket to commit to selling only British fresh meat throughout the year as part of a strategy to offer more locally sourced products.
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NewsLiquidators appointed at scandal-hit Hebridean Sea Salt
Hebridean Sea Salt is set to be liquidated after being embroiled in a scandal over the authenticity of its product.
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NewsMedia Bites 13 July: Tesco/Booker, B&M Bargains, Wetherspoons
The long-expected phase 2 investigation into the £3.7bn Tesco and Booker merger generates plenty of column inches in today’s papers.
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NewsCity snapshot: Reckitt Benckiser denies avoiding £60m of taxes in developing nations
Reckitt Benckiser has denied accusations of tax avoidance in developing countries as charity organisation Oxfam publishes a report highlighting the household goods manufacturer as an example of a multinational not paying its “fair share”. Plus, the newly demerged Metro Group starts trading shares.
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NewsTasties of Chester rescue deal saves 188 jobs as former Adelie CEO takes over business
Almost 200 jobs have been saved at food-to-go operator Tasties of Chester after former Adelie Foods CEO Gavin Cox put together a rescue deal with administrators.
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NewsB&M benefits from late Easter and sunshine as shoppers hunt for bargains
B&M Bargains has recorded its strongest first quarter of like-for-like growth in three years as the late Easter and hot weather boosted sales and the return of inflation sent shoppers searching for a bargain.
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NewsMedia 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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NewsCity 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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NewsAdelie 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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NewsExporters 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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NewsFood 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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NewsPukka 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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NewsSeabrook 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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NewsNorthern 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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NewsMedia 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.