Finance news – Page 154
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NewsCity snapshot: Greggs to create 500 jobs as first half sales and profits rebound
Greggs has bounced back to first half profitability as sales recovered due to the relaxation of coronavirus restrictions
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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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NewsApple grower Bardsley England acquired by listed agriculture group Camellia
Bardsley England is the UK’s second largest apple grower and also has operations focusing on pears, cherries, plums and grapes
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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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NewsMedia Bites 2 August: Morrisons, Deliveroo, Milk
Private equity giant Clayton, Dubilier & Rice is poised to kick off a bidding war for Morrisons
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NewsCity News: Reckitt Benckiser shares tumble as it warns of mounting cost pressures
Reckitt Benckiser was the latest consumer goods giant to warn of the pressures of mounting costs this week as its share price tumbled on inflationary concerns
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NewsFood and drink M&A declines after rush of pre-Budget activity
According to Grant Thornton’s quarterly review of the UK food and drink M&A market, deal volumes slumped by 47% from the first quarter
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NewsZero-based budgeting helps LRS deliver improved profits
The soft drinks supplier’s sales fell 9.5% in the year to 31 December 2020
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NewsCity snapshot: Kerry Group sales and profits rise as foodservice rebounds
Kerry Group has reported a strong rise in revenues and profits in the first half of its financial year as it continues to shake-up its portfolio
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NewsMedia Bites 30 July: Morrisons, Arla, Diageo
M&G Investments has joined the growing list of big investors that have rallied against the sale of Morrisons to a Fortress-led consortium
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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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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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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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NewsCity snapshot: Nestlé raises growth expectations after coffee drives first half sales increase
The world’s largest food group Nestlé has raised its full year growth forecast after posted organic growth of 8.1% in the first half as booming coffee sales drove strong growth. Plus updates from AB InBev, Danone, Diageo, Compass Group, Pets at Home and more.
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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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NewsMedia Bites 28 July: Morrisons, Reckitt Benckiser, Iceland
The proposed £9.5bn takeover of Morrisons has been thrown into jeopardy after the supermarket group’s largest shareholder blasted the Fortress-led bid
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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.