Finance news – Page 136
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NewsMedia Bites 9 December: Plan B, Tesco, SSP, Nestle
Boris Johnson has been accused of wrecking the hospitality industry “to save his own skin” after announcing new Covid restrictions that threaten to wipe £8bn off its sales at the height of the festive season.
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NewsHeather Mills sells 25% stake in VBites to Intersnack owner Pfeifer & Langen
The €3bn-plus turnover conglomerate plans to use its might to accelerate growth of the plant-based cheeses and fish-free products part of Mills’ group
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NewsBooths posts profits for the first time since 2015 due to Covid demand surge
The upmarket supermarket chain is back in the black after shopper demand increased during the series of lockdowns
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NewsMedia Bites 8 Dec: Strikes, Inflation, Booths
Asda has joined Tesco in facing the prospect of strike action ahead of the key Christmas trading season
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NewsCity Snapshot: McColl’s warns of continued supply chain disruption as revenues fall by £140m
McColl’s has warned it will continue to be hit by supply chain shortages as the c-store group revealed revenues tumbled 11.2% to £1.1bn in 2021. Plus, SSP sinks to another loss of more than £400m, and Nestle sells 4% of its L’Oreal holding.
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NewsBrothers Drinks brings Babycham back under control of Showering family
Cider producer Brothers Drinks has acquired iconic sparkling perry brand Babycham from current owner Accolade Wines for an undisclosed sum.
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NewsNuud wins £750k investment in funding round led by Candy Kittens founders
Jamie Laing and Ed Williams said they had been “immediately impressed with the strength of the Nuud brand”
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NewsShopper confidence on the rise ahead of Christmas despite growing grocery price inflation
Shopper confidence had been in decline since earlier this year as the country battled labour shortages and the supply chain crisis
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NewsCity snapshot: Grocery sales fall back despite mounting price inflation
Grocery sales fell by 3.8% in the last 12 week period, according to Kantar, despite inflation rising to its highest level since June 2020.
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NewsMedia Bites 7 December: Tesco, Spar, Sainsbury’s, AG Barr, Boots
The risk that Tesco will be severely hit by strike action in the crucial pre-Christmas period has escalated dramatically, after the number of distribution centres facing staff walkouts more than tripled to 13 – more than half the total.
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NewsInspired Pet Nutrition acquires Pet Food UK as it kicks off buy-and-build strategy
Inspired Pet Nutrition has snapped up Barking Heads dog food maker Pet Food UK as part of a buy-and-build strategy to create a player of significant scale in the category.
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NewsCity Snapshot: Irn-Bru owner AG Barr acquires 60% stake in Moma to enter plant-based milk market
AG Barr has taken an initial 60% equity stake in Moma Foods, with a path to full ownership agreed over the next three years as part of the deal. Plus, Unite threatens strike action at Tesco warehouses ahead of Christmas and Just Eat Takeaway hit by broker downgrade.
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NewsMedia Bites 6 Dec: Walgreens/Boots, Tesco, Omicron
The parent company of Boots, Britain’s biggest high street chemist, is to explore a sale of the business next year that could value it at well over £5bn
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NewsCost price increases up by double digits Greencore warns
Greencore said packaging and labour costs had increased, leaving it no choice but to increase prices
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NewsCity snapshot: Black Friday fails to boost retail footfall
Total UK footfall fell by double-digits in November compared to pre-Covid levels, as the Black Friday event failed to boost in-store shopper numbers.
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NewsBread Holdings profits hit record levels despite Covid challenges
A boom in demand for premium bread throughout lockdown helped the business as it focused on selling the Gail’s and Bertinet brands in supermarkets.
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NewsMedia Bites 3 Dec: CD&R/Morrisons, Deliveroo, Selfridges
Clayton, Dubilier & Rice has delayed plans to raise £6.6bn in debt to finance its buyout of supermarket chain Morrisons
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NewsWhen In Rome hits £400k fund target to boost eco-wine packaging
The When In Rome and Philip Schofield brands are currently stocked by Waitrose and Ocado Eco-friendly craft wine supplier When In Rome has hit a £400k crowdfunding target to expand its range of sustainable packaging into paper bottles. Rob Malin, Andrea Marchesi and Lorenzo Canali founded the ...
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NewsCompleat Food Group swoops for Wrights Food Group in first chilled acquisition
The Compleat Food Group has acquired pie maker Wrights Food Group in its first deal since PE house PAI Partners brought Addo Food Group and Winterbotham Darby together
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NewsCity snapshot: Agronomics sets sights on £25m funding round
The Isle of Man-headquartered company, which is listed on the London Stock Exchange, plans to raise the money via a proposed placing of shares.