All articles by Ed Devlin – Page 85
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NewsMedia Bites 10 August: Deliveroo/Delivery Hero, Morrisons, Vectura
The papers are filled with news of takeover activity as Deliveroo, Morrisons and Vectura are all in focus.
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NewsDeliveroo shares hit new highs after Delivery Hero buys stake
Shares at Deliveroo have made a strong recovery today after German rival Delivery Hero grabbed a slice of the London-listed food delivery service.
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NewsCity Snapshot: CD&R Morrisons deadline extended as bidding war looms
Clayton, Dubilier & Rice has been granted an extension on today’s ‘put-up or shut-up’ takeover deadline to weigh up whether to make a higher bid for Morrisons. Plus, the takeover battle for Vectura intensifies between Philip Morris and Carlyle; and McColl’s shares plunge as it confirms potential fundraise.
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NewsNomad Foods sales slow down as Covid crisis passes
Sales have dipped at Nomad Foods as the frozen food specialist dealt with lower consumer demand as Covid restrictions eased and also came up against comparisons with the peak stockpiling period at the start of the outbreak in 2020.
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NewsMedia Bites 5 August: John Lewis, National Lottery, Philip Morris
John Lewis was included on a list of employers “named and shamed” by the UK government for paying staff below the legal minimum on Thursday, as ministers seek to show they are clamping down on abuses of workers’ rights.
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NewsDavid Milner steps down as Lily’s Kitchen CEO
Milner left the business at the end of June after deciding to step down from the business to focus on new opportunities
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NewsPepsiCo sells Tropicana and Naked juice brands to PAI Partner for $3.3bn
PAI will take a 61% holding in the likes of Tropicana and Naked, as well as other brands, with PepsiCo retaining a 39% stake
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NewsCity Snapshot: The Hut Group acquire Cult Beauty for £275m
E-commerce giant The Hut Group has expanded its beauty portfolio with the £275m acquisition of online prestige retailer Cult Beauty.
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NewsSnacking group Wholebake acquired by private equity firm
Cereal bar maker Wholebake has been snapped up by new private equity owners as investors continue to target the healthier snacking category.
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NewsMedia Bites 3 August: Morrisons, Bolt, Heineken, Chapel Down
Shares in Morrisons hit their highest level since 2013 yesterday as investors prepared for a bidding war between two private equity groups.
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NewsMorrisons faces break-up risk in private equity takeover, analysts warn
Bernstein said it “struggled to see the returns [for a buyout group] of the current offer without significant asset sales”
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NewsCity Snapshot: Heineken recovers from Covid crisis but warns of rising costs
Profits have more than doubled at Heineken as sales at the Dutch brewer recovered as pubs and bars reopened following extended global lockdowns. Plus, global agriculture group Camellia has acquired an 80% stake in apple grower Bardsley England, and Domino’s Pizza Group non-exec steps down.
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NewsFitbakes eyes retail expansion after hitting crowdfunding target
The business, founded by nutritionist Ella Rauen-Prestes in 2018, will use the money to help support a slated launch in 1,000 Tesco Express stores as part of its meal deal offering in the third quarter of 2021.
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NewsSmall Giants closes £400k funding round to bring insect snacking to the mainstream
Insect-based snacks start-up Small Giants has closed an investment round of more than £400,000 to supports its growth across the UK and Europe.
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NewsGriffith Foods expands UK presence with acquisition of The Flavourworks
Ingredients supplier The Flavourworks has been acquired by US product development group Griffith Foods for an undisclosed sum.
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NewsMedia Bites 29 July: Morrisons, Arla Foods, British American Tobacco
Morrisons is in the spotlight again this morning as the race to takeover the supermarket group heats up.
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NewsSingapore wealth fund joins Fortress-led consortium on £6.3bn Morrisons takeover
Cambourne Life Investment, a subsidiary of GIC, has agreed to join Fortress Investment Group – alongside Canadian pension fund CPPIB and a subsidiary of US group Koch Industries – as an additional co-investor
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NewsMorrisons’ largest investor Silchester publicly rebukes £6.3bn Fortress offer
Silchester International Investors, which holds a 15.1% holding in Morrisons, said in a statement that it was “not inclined” to support the existing offer from Fortress.
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NewsLindt sales soar as it emerges from Covid restrictions
Swiss confectionery giant Lindt & Sprüngli has soared back into double-digit growth as the shops emerged from lockdowns across the world and it continued to benefit from strong demand for premium chocolate in supermarkets.
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NewsPlant-based nutrition brand Pulsin acquired by VC firm S-Ventures
Pulsin makes a wide range of protein, keto, high-fibre and oat snack bars, as well as protein powders and shakes, under its own brand and for third parties.