Finance news – Page 120
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NewsHolland & Barrett debt payment cleared following Russian sanction concerns
The interest payment on a €415m loan taken by the health and wellness retailer had been held up by HSBC
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NewsRemeo Gelato eyes expansion after securing fresh capital
As part of the raise, Remeo appointed Nando’s grocery CEO Georg Gruber as executive chairman of the board
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NewsKestrel Foods acquires non-HFSS granola brand Just Live a Little
The deal signalled its “ongoing commitment to becoming an innovative leader in the plant-based snacking market”, said Kestrel Foods
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NewsWeetabix swoops for protein shakes player UFit
Weetabix has boosted its presence in the dairy drinks category with the acquisition of RTD protein shakes player UFit
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NewsCity snapshot: Revenues soar as Hilton Food Group diversifies further
Meat and fish supplier Hilton Food Group has reported a surge in revenues and profits as it extended its reach across protein categories around the world. Plus, trading updates for Imperial Brands and Distil.
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NewsShicken owner secures new funds to expand plant-based Indian ready meals into the US
The group behind the Shicken range of plant-based Indian ready meals has scored further backing from specialist investment firm Veg Capital.
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NewsMedia Bites 6 April: Labour shortages, Petrol, Morrisons/supermarkets
The UK food industry may shrink permanently if ministers fail to address labour shortages from Brexit and coronavirus
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NewsTomato producer Sterling Suffolk rescued from administration
The company brought in administrators on 29 March after a downturn in trading and soaring energy prices forced it into administration
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NewsMorrisons warns on impact of inflation and ‘geopolitical environment’
Private equity owned Morrisons has warned its profits will come under pressure from mounting inflation and the situation in Ukraine.
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NewsMedia Bites 5 April: Morrisons, inflation, Ferrero, M&S
The new owners of Morrisons have given the green light to plans to sell a £500m property portfolio, while the supermarket warns its profits are likely to take a significant hit this year as the cost of living crisis and disruption due to the war in Ukraine weigh on the grocery market.
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NewsUpfield UK bounces back into profit but warns on plant oil prices
The UK arm of Flora owner Upfield bounced back into profit in its first year of separation from former owner Unilever, but warned over the impact of soaring plant oil prices
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NewsKerry Group suspends operations in Russia and Belarus
Irish nutrition company Kerry Group has suspended its operations in Russia and Belarus following Russia’s invasion of Ukraine
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NewsCompleat Food Group hires former Burton’s Biscuits boss Nick Field as CEO
Field will join the Addo, Winterbotham Darby and Wrights Food Group owner as CEO in June
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NewsMedia Bites 4 April: Boots, Lottery, M&S/Ocado
The American owner of Boots has offered to retain a stake of up to 30% in the pharmacy chain to smooth the path towards a £7bn sale
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NewsCity Snapshot: Consumer confidence plunges rapidly in face of soaring prices
Rampant inflation has sparked a record decline in consumer confidence, with the pent-up demand in discretionary spending disappearing as the cost of living soars, according to a new survey.
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NewsIPN revenues hit £120m following CapVest deal
Inspired Pet Nutrition, the UK’s largest manufacturer of dry petfood, saw further double-digit growth last year as it was snapped up by the private equity player
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NewsCity News: AG Barr propelled above pre-Covid levels as hospitality reopened
The resurgence of the leisure sector and out-of-home consumption helped propel Irn-Bru maker AG Barr back above pre-Covid levels
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NewsDiscounters win share from big four as shoppers prioritise value
The discounters are once again rapidly taking market share from mainstream grocers as soaring food prices push consumers to prioritise value and own-label products
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NewsHuel mulls IPO as it passes £100m sales mark
Revenues have jumped 43% as demand for the brand’s “nutritionally complete, sustainable food” rocketed
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NewsCity snapshot: Diageo buys US flavoured tequila brand 21Seeds
Diageo has acquired US flavoured tequila brand 21Seeds to boost its portfolio of high growth brands