All articles by Ed Devlin – Page 211
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NewsMedia Bites 23 June: Thorntons, Tesco, GCA
Ferrero’s £112m takeover bid of Thorntons dominates the papers this morning but news of Tesco topping a supplier survey as the worst of Britain’s leading supermarket chains at complying with industry guidelines also gets a look in.
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Analysis & FeaturesFerrero take over of Thorntons raises more questions than answers
Thorntons shares shot up by more than 40% this morning after news emerged that a takeover bid from Italian chocolate giant Ferrero valued it at £111.9m. But what are the key questions around what a Ferrero-owned Thorntons would look like?
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NewsCity Snapshot: Thorntons and Moy Park acquired as UK M&A activity heats up
Troubled chocolatier Thorntons is to be acquired in a deal worth £112m by Ferrero and chicken processor Moy Park has been sold by Brazilian parent Marfrig for $1.5bn
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NewsMedia Bites 22 June: Tesco, M&S, Illy
The papers look at what Tesco CEO Dave Lewis can expect at this Friday’s AGM as the supermarket giant is expected to reveal a further fall in sales
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NewsJohnstone's Just Desserts "mis-stated" trading before collapse
The cake supplier issued invoices totalling £1.6m for products that had not been supplied
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NewsCity Snapshot: Fyffes pushes up profits forecasts
Irish fruit company Fyffes has significantly increased its earnings targets for 2015; Irish forecourt operator starts trading on the London and Dublin junior markets; and Waitrose has a demanding week. Plus the latest share price movements.
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NewsMedia Bites 19 June: Dunnhumby, Poundland, BHS
Google is teaming up with private equity firm Permira to make a joint bid for Tesco’s data business Dunnhumby; subdued trading at Poundland spooks the City; and BHS is reviewing the future of its flagship Oxford Street store in London.
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NewsAppetite for Charlie Bigham’s posh meals drive sales growth
Sales at Charlie Bigham’s have grown again despite a “fiercely competitive” grocery market and rising food costs as consumer appetite for its posh ready meals continues to get bigger.
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NewsPoundland shares sink despite £1bn breakthrough
Shares in Poundland sank more than 6% this morning despite sales at the discount retailer breaking the £1bn barrier for the first time.
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NewsCity Snapshot: Co-op drops fruit & veg prices as it enters price war
The Co-operative Group has waded into the supermarket price war with £125m committed to slash the cost of fruit and veg across its 2,800 UK stores. Plus Rimmel mascara maker Coty is close to taking over $12bn worth of Procter & Gamble’s beauty assets.
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NewsMedia Bites 17 June: Co-op, Coty, Nestlé, Woolworths
The Co-operative Group is to invest £125m to cut the prices of fruit and veg in its 2,800 UK stores; Rimmel mascara owner Coty is close to taking over $12bn worth of Procter & Gamble’s beauty assets; and Nestlé is cutting 15% of its workforce across 21 African countries.
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NewsMark Allen set for £1.2m pay-out for 'transforming' Dairy Crest if Müller deal a success
Dairy Crest CEO Mark Allen is in line for a potential £1.2m windfall if the proposed £80m acquisition of its liquid milk operation by Müller gets signed off by the UK competition watchdog.
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NewsCity Snapshot: Applegreen worth €300m after winning the backing of City funds
Irish forecourt operator Applegreen has revealed its flotation later this month will value the group at €299.7m (£218.8m) after winning backing
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NewsMedia Bites 16 June: Majestic Wine, Metro
All the papers follow The Grocer’s lead the morning with news that Majestic Wine is trialling selling single bottles of wine in the hope of winning new customers.
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NewsBargain Booze launches ‘cheeky’ take on Aldi adverts
Bargain Booze has launched a “cheeky” advertising campaign reversing the successful series of Aldi price comparison adverts as the off-licence chain matches the price of Carlsberg Export and Smirnoff vodka with the discounter’s own-label products.
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NewsMedia Bites 12 June: Sainsbury’s, Nestlé, PZ Cussons
Sainsbury’s CEO Mike Coupe acquitted of all charges by Egyptian courts, Nestlé attempts to trademark four-fingered KiKat bar fail and PZ Cussons brushes aside trouble in Nigeria to trade in line with expectations.
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NewsCity Snapshot: Waitrose sales heat up as sun shines
Waitrose said the arrival of sunny weather boosted sales 2.2% over the past week. Plus Contract Bottling and Speaking Water Brands merge to form Clearly Drinks. And the listed grocer’s continue a share price revival.
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WhiteWave acquires plant-based foods group for $550m
Alpro owner WhiteWave Foods Company has agreed to buy a plant-based foods manufacturer Vega for $550m (£354.5m).
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Permira gorges on healthy snacking businesses
Investment firm Permira, which recently sold Birds Eye owner Iglo Group to Nomad Foods, is combining two US snacks businesses after snapping up Medora Snacks and Ideal Snacks.
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NewsSupermarket woes to drag on to 2017, Moody's warns
Margins at the big four UK grocers are unlikely to recover for another 12 to 19 months as the price war continues to rage and like-for-like sales decline, ratings agency Moody’s has warned.