All articles by Ed Devlin – Page 155
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NewsUnilever boosts long-term strategy as sales grow and margins increase faster than expected
Unilever hailed its long-term growth model this morning as first-half revenues increased 5.5% alongside a substantial step-up in profitability. The group added the preparation for the sale of the non-core spreads business was “well underway”
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NewsMedia Bites 20 July: McCormick/Reckitt Benckiser, GlaxoSmithKline/Horlicks, Hotel Chocolat, BAT/Reynolds
News of the $4.2bn McCormick acquisition of Reckitt Benckiser’s food business was the main focus of the papers on a slow day for grocery and retail news. Plus, GlaxoSmithKline unveils plans to sell its Horlicks brand in the UK.
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NewsCity snapshot: Premier Foods suffers further slump in sales
Premier Foods revealed a difficult start to the year as first quarter sales fell 3.1%, driven by changes to supermarket promotions and less demand for its products in the June heat
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NewsBristows and Tuckers bonbon maker fails again with 52 redundancies
The future of the Bristows and Tuckers confectionery brands hang in the balance after a failed turnaround bid sent the business under for the second time in less than a year
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NewsCheese Posties campaign values cheese toastie box business at £1.5m
Cheese toastie subscription box service Cheese Posties is seeking £80,000 in a crowdfunding campaign that values the start-up at more than £1.5m.
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NewsMedia Bites 19 July: Inflation, Dairy Crest, Amazon, P&G, North Sea cod
The surprise drop in inflation; Dairy Crest results; the launch of Amazon meal kits; the ongoing tussle at P&G; and the North Sea cod has been deemed sustainable once again.
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NewsCity snapshot: McCormick swoops for French's and Frank's Red Hot in £3.2bn deal
Schwartz spice maker McCormick has acquired Reckitt Benckiser’s food division for $4.2bn (£3.2bn) in cash. Plus, sales jump 12% to £105m at Hotel Chocolat.
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NewsP&G defends record as it hits back at activist investor Trian
Procter & Gamble has hit back at the activist investor agitating for a seat on the board of the consumer goods giant and said its directors are already “best-in-class”
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NewsEagle Eye remains £1.8m in the red
Grocery tech firm Eagle Eye Solutions has increased group full-year revenues by 71% to £11.1m but still expects losses to remain at the same level as in 2016.
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NewsSurprise fall in inflation in June to 2.6%
Inflation in the UK unexpectedly slowed to 2.6% in June as falling petrol and diesel prices more than offset higher food bills, official figured revealed today.
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NewsMedia Bites 18 July: P&G, Conviviality, M&S
P&G in battle with activist investor Trian; Conviviality doubles profits; and M&S launches ‘Project Thin Air’ to reduce food packaging waste.
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NewsCity snapshot: Strong growth for Dairy Crest brands in Q1 but rising butter costs squeeze margins
Dairy Crest has recorded “good” growth for its four main brands in the cheese, spreads and oil categories during the first quarter but soaring butter prices are putting pressure on margins. Plus, Procter & Gamble hit back at the activist investor agitating for a seat on the board of the consumer goods giant; and Eagle Eye grows revenues 70% but can’t shake off losses.
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NewsStock Spirits acquires £16m stake in Quintessential Brands Irish whiskey division
London-listed Stock Spirits Group has struck a deal to acquire a 25% stake in the Irish whiskey division of Quintessential Brands Group for up to up to €18.3m (£16m) in cash.
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NewsUnilever acquisition of Reckitt Benckiser food brands would be a strategic misstep - analysts
A £2bn-plus Unilever approach for the food business of Reckitt Benckiser, made up of French’s Mustard and Frank’s Red Hot Sauce, would be ‘surprising’, ‘disappointing’ and strategically inconsistent, according to City analysts.
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NewsKP Snacks acquires Butterkist to break into popcorn market
Butterkist’s manufacturing site in West Yorkshire and its 140 employees will become part of the KP Snacks business following the acquisition.
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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.