All articles by Ed Devlin – Page 23
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NewsCity snapshot: Sainsbury’s targets £1bn in savings as it launches ‘Next Level Sainsbury’s’ strategy
Sainsbury’s is targeting £1bn in cost savings over the next three years as part of its new strategy launch this morning. Plus, PZ Cussons issues a profits warning and Just Eat Takeaway appoints new CFO.
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NewsHeura raises £34m in series B round to fund ‘new chapter’ in plant-based foods
European plant-based brand Heura has closed its long-running series B funding round, raising €40m (£34.2m) in total as it seeks to turn rapid growth into profitability
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NewsEasing inflation helps supermarket volumes in January
Food sales at the supermarkets have grown faster than inflation in January as shopper behaviour normalises amid reducing cost pressures, according to new data published this morning
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NewsMedia Bites 6 February: McDonald’s, junk food, Asda
The business sections focus on McDonald’s reporting its first quarterly sales miss in nearly four years
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NewsCompleat Food Group acquires SK Foods and Zorba Foods
The two businesses specialise in private-label chilled party foods, dips and deli fillings, and have a combined turnover of more than £160m, with in excess of 1,150 employees
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NewsCity snapshot: Naked Wines appoints Rodrigo Maza as CEO designate
Naked Wines has promoted its new UK managing director to group CEO to work alongside executive chairman Rowan Gormley as the DTC wine retailer attempts to turn around its fortunes
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NewsNirvana launches £600k crowd campaign amid low & no demand
Low & no brewer Nirvana is rolling out a crowdfunding campaign as it looks to capitalise on the growing demand in the sector following a successful Dry January
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NewsPlanet A closes £12m fundraising to bring cocoa-free chocolate to the UK
Food tech startup Planet A Foods has secured $15.4m (£12.2m) to power the expansion of its sustainable cocoa-free chocolate into the UK and other international markets
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NewsMedia Bites 1 February: Morrisons, Gillette
Morrisons continues to make headlines in the business pages as its new boss, Rami Baitiéh, faces the media for the first time
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NewsCity snapshot: Gusbourne narrows losses despite challenging second half
English sparkling wine producer Gusbourne has narrowed underlying losses as it cut costs and continued to grow sales.
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NewsDeliveroo shares fall as Delivery Hero plans to sell off stake
Delivery Hero is selling its stake in rival food delivery group Deliveroo for more than £70m
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NewsMedia Bites 30 January: Brexit, vaping, Delivery Hero
New Brexit border rules could cut the shelf life of fresh food from mainland Europe by a fifth and leave some deliveries from the EU unsaleable, major food bodies have warned
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NewsCity snapshot: EY resigns as Asda auditor
Big four accountancy firm EY has resigned as auditor to Asda in the latest blow to the Issa brothers, according to reports
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NewsInfinite Roots closes £46m round to build a ‘more sustainable and healthy food system’
Biotech firm Infinite Roots has closed a $58m (£45.5m) series B funding round as the business looks commercialise its technology and kickstart product launches worldwide
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NewsMedia Bites 25 January: AI, Thatchers/Aldi, Wetherspoons
AI technology that guesses the age of shoppers wanting to buy alcohol is to be rolled out in supermarkets under government plans
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NewsTwo Tribes plots international expansion following fundraising
Founded in 2017 by DJ and music producer Justin Deighton, the brand is stocked by the likes of Waitrose, Sainsbury’s and Ocado, as well as by Eurostar and Virgin Atlantic, and premium on-trade sites in London
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NewsFull Power Cacao scores Dragons’ Den investment from Gary Neville, Steven Bartlett and Peter Jones
Ceremonial-grade cacao company Full Power Cacao has scored a three-way investment following an appearance on the BBC’s Dragons’ Den
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NewsCity snapshot: East Imperial Superior Beverages raises funds to take on growth markets
Premium tonic maker East Imperial has raised £325k to boost working capital and help realise growth opportunities in the US and Asia Pacific markets
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NewsMedia Bites 23 January: Morrisons, baby formula, VBites, Virgin Wines
Morrisons is closing in on a £2.5bn deal to sell its petrol forecourts portfolio to another company backed by its private equity owner, according to reports.
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NewsHeather Mills strikes rescue deal for VBites
Heather Mills has bought the assets of her collapsed plant-based VBites empire from administrators in a rescue deal worth £1m, The Grocer can reveal