Finance news – Page 161
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NewsMedia Bites 11 June: Morrisons, Brewdog, National Lottery
Morrisons has suffered one of the biggest shareholder revolts over pay in British corporate history
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NewsDr Will’s smashes £400k crowdfunding round as it eyes further supermarket growth
Founded by Dr Will Breakey, Liam White and Josh Rose in 2015 to reduce the sugar in table sauces such as ketchup, mayo and BBQ, Dr Will’s is stocked by the likes of Tesco, Waitrose, Holland & Barrett and Ocado, as well as Selfridges and Harvey Nichols.
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NewsHeura scores €70m valuation with backing from Chris Smalling and the crowd
Heura, which launched in the UK with a meat-free burger late last year, hit its initial €1m target on the Crowdcube platform and overfunded to €4m in less than 24 hours, with 3,007 investors backing the business.
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NewsLosses continue to mount at beleaguered Thorntons
Revenues fell 15% to £103.7m for the year ended 31 August 2020, with pre-tax losses widening to £37.7m.
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NewsMolson Coors back Three Fold hard seltzer into the off-trade with £5m investment
This was the biggest brand investment Molson Coors had ever made into a new category in the UK, it said
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NewsPlayIn Choc beats £250k crowdfunding target to scale up ethical brand
Launched in 2018 by husband-and-wife team Maya and Dominic Simler, PlayIn Choc already exports to 30 countries and has listings with 25 distributors, as well as Ocado. It is also in early conversations with the mults in the UK and other retailers overseas.
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NewsMedia Bites 10 June: SSP Group, Morrisons, Oatly
On a quiet day for retail and F&B news, the papers focus on the Covid-related losses of Upper Crust owner SSP Group.
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NewsCity snapshot: Finnish dairy group Valio mitigates domestic decline with Chinese exports growth
Finnish dairy group Valio saw sales rise 1.2% in 2020 as a plunge in food service sales was mitigated my increased exports.
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NewsNorth Coast Brewing Co buys Wooha Brewing from administration
The owner of Isle of Skye Brewing Co has bought Scottish craft beer maker Wooha Brewing Co out of administration.
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NewsMedia Bites 9 June: Sausage trade war, British American Tobacco, Pubs
Boris Johnson is battling to avoid a sausage trade war with Brussels which could see chilled meats barred from shops in Northern Ireland
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NewsCity snapshot: SSP Group slumps to £300m loss as Covid continues to hammer Upper Crust owner
Upper Crust and Ritazza owner SSP Group has fallen to first-half pre-tax losses of £300m as the ongoing coronavirus restrictions wiped out revenues. Plus, the European Commission has given Total Produce the all clear for its combination with Dole Food Company.
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NewsLivekindly Continues acquisition drive after snapping up Dutch Weed Burger brand
The deal will allow the Amsterdam-based seaweed burger brand to expand into the UK and other countries
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NewsCity snapshot: May retail sales boosted by hospitality reopening
UK retails sales jumped 10% in May on a two-year basis, driven by buoyant consumer spending as the UK reopens from the coronavirus lockdown
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NewsMedia Bites 8 June: Tesco/Carrefour, Sainsbury’s, Reckitt Benckiser
The papers pick up stories on the end of the Tesco and Carrefour buying alliance, remuneration at Sainsbury’s and the lossmaking sale of Reckit Benckiser’s baby formula business in China.
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NewsMedia Bites 7 June: Reckitt Benckiser, Chapel Down, Getir
Reckitt Benckiser is taking a £2.5bn loss on the sale of its struggling baby formula business in China
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NewsCity Snapshot: Reckitt Benckiser offloads baby milk business in China for $2.2bn
Reckitt Benckiser has agreed to sell its struggling baby formula business in China to a global investment firm for $2.2bn (£1.6bn). Plus, Tesco and Carrefour call it a day on purchasing alliance; and English sparkling wine producer Gusbourne increases sales thanks to DTC and international shift during Covid.
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NewsCity News: B&M shares fall on expectation it can’t ‘improve on perfection’
Having absorbed B&M European Value Retail’s surging annual sales and doubling of profits, the market promptly sent the discounter down 5%
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NewsFerrero beats rivals to acquire Burton’s Biscuits for £300m
The deal continues the Italian confectionery giant’s expansion into the sweet biscuit category
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NewsFactory closure drives Upfield loss in first year following Unilever separation
Flora owner Upfield fell to a £28.5m operating loss in its first year of separation from previous owner Unilever
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NewsEuro Food Brands sees growth despite Illycafè demerger
Specialist distributor Euro Food Brands has posted double-digit annual growth despite the demerger of its UK Illycaffè Italian coffee business as demand for its global brands soared during the pandemic