Finance news – Page 121
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NewsMedia Bites 1 April: Eggs, Lottery, Boots
Hundreds of UK egg farms are at risk of collapse after surging input costs were pushed up still further by Russia’s invasion of Ukraine
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NewsCity snapshot: Tate & Lyle to acquire Chinese dietary fibre business for US$237m
Tate & Lyle has signed an agreement to acquire Quantum Hi-Tech (Guangdong) Biological Co, a prebiotic dietary fibre business in China for US$237m (£180m).
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NewsMedia Bites 31 March: Holland & Barrett, Starbucks, Deliveroo
Holland & Barrett has been left in limbo over a crucial debt payment held up by HSBC given the bank’s concerns about links to Russian oligarchs on the sanctions list
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NewsCity snapshot: Huel sales pass £100m on surging global growth
Plant-based meals brand Huel saw revenues top £100m last year amid strong growth in the UK and its international business
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NewsMedia Bites 30 March: Grocery market share, AG Barr, Tesco
Food price inflation has hit its highest level in almost a decade, suggesting that the squeeze on household incomes may be even tighter than previously thought
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NewsCity snapshot: Grocery sales fall back amid soaring inflation
Take home grocery sales have slumped by 6.3% in the 12 weeks to 20 March as inflation hit its highest level for a decade, according to the latest market share data from Kantar. Plus AG Barr bounces back to top pre-pandemic results and all the rest of the latest news from the City.
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NewsMedia Bites 29 March: Asda, Heineken/Carlsberg, Cadbury
Profits at Asda doubled last year as the supermarket chain announced that it would be launching a new value range of groceries with a similar name to Waitrose’s cut-price line
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NewsCarlsberg to sell Russia’s biggest brewer Baltika
Danish brewing giant Carlsberg is to dispose of its Russian arm, where it is currently the market leading brewer in the country
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NewsHeineken to dispose of its Russian business and take €400m hit
Global brewer Heineken has announced it will dispose of its Russian business and leave the country due to its war on Ukraine.
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NewsMatugga Distillery closes in on £300k crowdfunding goal
The business, run by married co-founders Jacine Rutasikwa and Paul Rutasikwa, is aiming to become a ‘cane to cask’ producer, with plans underway to develop a sugarcane plantation in Uganda.
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NewsCity snapshot: Investors call on Sainsbury’s to pay living wage
An investor coalition managing £2.2trn in funds has filed a shareholder resolution to demand Sainsbury’s to pay a living wage to all its workers. Plus, Heineken to pull out of Russia and take €400m writedown and all the rest of the latest news from the City.
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NewsMedia Bites 28 March: Boots, Sainsbury’s, UK retail sales
Four private equity firms are understood to have given presentations to Boots’ management team and submit second round offers in the coming weeks
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NewsCMA gives Boparan green light for Banham Poultry acquisition
After taking a closer look at the transaction and launching a phase 1 inquiry in January, the Competition & Markets Authority (CMA) cleared the deal.
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NewsKoRo closes €50m funding round to continue rapid growth across Europe
The business – started in Berlin in 2014 – sells a range of more than 1,000 SKUs across food categories and kitchen appliances direct to consumers.
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NewsCity News: MP Evans profits surge on soaring prices
Surging commodity prices are not bad news for all food industry players, as UK-listed palm oil producer MP Evans proved this week with soaring annual profits
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NewsCheeky Panda smashes £1m crowdfunding target as it looks ahead to IPO
Eco household brand Cheeky Panda has welcomed thousands of new shareholders after closing its latest round of crowdfunding ahead of a planned IPO.
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NewsLittle Moons hires Mike Hedges as CEO after L Catterton invests
Hedges joins the business as CEO on 4 April to support further distribution expansion in the UK and overseas.
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NewsCity snapshot: UK retail sales unexpectedly fall in February
UK retail sales fell back unexpectedly in February as increased eating out hit the grocery sector and online sales fell back
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NewsMedia Bites 25 March: Boots, Holland & Barrett, Ocado, Morrisons, McColl's
Apollo Global Management, the New York-based buyout giant, is lining up banks to fund a £6bn tilt to buy Boots, according to reports this morning.
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NewsCity snapshot: McColl’s CEO Jonathan Miller steps down amid crisis talks
McColl’s CEO Jonathan Miller has stepped down from his role as the convenience chain remains locked in talks with its lenders to avoid collapse