All articles by Ed Devlin – Page 97
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NewsCity snapshot: Finsbury Food suffers further decline as lockdown drags on
Finsbury Food Group has suffered further declines in sales and profits as the return of lockdown towards the end of 2020 halted the recovery of its foodservice business.
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NewsCheeky Panda cleans up with £2m fundraising
Eco toilet paper supplier The Cheeky Panda is raising £2m on Seedrs secondary market to help meet investor demand after a year of rapid growth.
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NewsMedia Bites 18 Feb: Danone, Total Produce/Dole Foods, British American Tobacco
A large shareholder in French consumer goods group Danone has urged its directors to oust chairman and chief executive Emmanuel Faber, halt a planned group reorganisation that he has championed, and sell underperforming brands that account for 15% of revenue.
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NewsOhso Chocolate sells 75% stake in sweet investment deal
Under the umbrella of S-Ventures, Ohso will look to develop the product range, continue to grow its existing product lines and consider partnering opportunities with other major brands to use its technology.
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NewsNomad Foods reveals strong finish to 2020 as frozen gets Covid boost
In a trading update issued ahead of its annual results next week, the Birds Eye owner revealed organic revenues jumped by 9.5% in the final three months of 2020 as the Uk entered lockdown once more.
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NewsCraft beer startup Shandy Shack raises six-figure investment
The £160k in funding, raised from three angel investors, will help Shandy Shack expand its retail distribution, develop the range and scale up marketing.
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NewsCity snapshot: Total Produce and Dole to float on US stock market
Fruit and veg supplier Total Produce has agreed to combine with Dole Food Company to created the largest fresh producer in the world with revenues of almost $10bn. Plus, profits jump at BAT despite Covid disruption; Nestlé sells North American water brands for $4.3bn; Imperial Brands appoints a CFO; Ahold Delhaize 2020 sales soar thanks to pandemic; and Ohso Chocolate acquired by VC firm.
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NewsRedefine Meat raises $29m to bring 3D printed meat to market
The series A funding round will see the Israeli company’s products launch in Europe, followed by Asia and North America
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NewsMedia Bites 16 Feb: Virgin Wines, Coke, Mitchells & Butler
Home delivery wine retailer Virgin Wines has announced plans to list on the stock market next month after enjoying booming demand amid the pandemic.
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NewsCity snapshot: Coca-Cola European Partners sweetens offer for Coke bottler Amatil
Coca-Cola European Partners has sweetened its offer for Asia-Pacific Coke bottle Coca-Cola Amatil to reflect an improvement in global trading conditions. Plus, Kerry Group reveals plans to buy Spanish biotech firm, Jim McCarthy steps down as Wynnstay chairman and Ultimate Products acquires German kitchen electrical brand Petra.
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NewsCity snapshot: Symington’s hires advisors as it eyes £100m sale
The private equity owners of Leeds-based food group Symington’s have hired bankers to explore sales options. Plus, Kraft Heinz sells nuts business to Hormel Foods for $3.4bn, PepsiCo boosted by at home snack consumption and all the rest of the latest news from the City
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NewsSymington’s private equity owner explores sale options
Chicken Tonight owner Symington’s has hired advisors to explore sale options following a successful turnaround
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NewsMedia Bites 11 Feb: Coca-Cola, Heineken, SSP Group, Sainsbury’s
Coca-Cola’s sales dropped 5% in the final quarter of 2020, as a resurgence of coronavirus cases prompted renewed curbs on restaurants and bars.
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NewsWarburtons invests in The Artful Baker as Batch Ventures gets off the ground
Warburtons has backed biscuit producer The Artful Baker in the maiden investment as part of its Batch Ventures bakery innovation fund.
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NewsGiles Brook joins Bio & Me as lead investor
Brook joins Bio & Me as lead investor and advisor, with his six-figure backing to be used to raise brand awareness and help with new product launches.
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NewsCity snapshot: Heineken slashes 8,000 jobs as pandemic plunges brewer into the red
Heineken is cutting 8,000 jobs around the world in a €2bn cost-saving drive to reshape the group and kick-start growth in the wake of the coronavirus pandemic.
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NewsMedia Bites 9 Feb: Household spending, hospitality, Brexit
UK consumer spending and retail sales fell in January at the fastest pace since May, suggesting the economy has been hit harder by the current lockdown than November’s restrictions despite people switching to online shopping.
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NewsCity snapshot: Lockdown drives sales boom at Ultimate Products
Ultimate Products has raised its expectations for the year as the boom in online shopping and supermarkets during lockdown continues to benefit the consumer goods group. Plus, Cake Box opens 150th store.
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NewsVirtual wine cellar Drop raises £300k
Virtual wine cellar start-up Drop has surpassed its £300k crowdfunding target as drinkers turn to home delivery in greater numbers during lockdown
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NewsConcerns raised over Asda deal debt
The Issa brothers aim to fund the buyout of Asda using around £3.7bn of junk-rated debt