Finance news – Page 168
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NewsGousto posts first profit as demand soars during pandemic
Recipe box player Gousto posted a full-year profit for the first time last year after sales soared to record levels
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NewsTate & Lyle explores break up with sweetener division sale
Tate & Lyle is exploring selling a controlling stake in its ‘primary products’ business to “a new long-term financial partner”.
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NewsCity snapshot: Poundland owner Pepco to float in Poland
Poundland owner Pepco has this morning confirmed its intention to float on the Warsaw Stock Exchange in Poland. Plus, former Post Office head Paula Vennells resigns from Morrisons’ board; Tate & Lyle confirms it is exploring breaking up the group; recipe box provider Gousto turns a profit for the first time and Nestlé in discussions to acquire The Bountiful Company.
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NewsMedia Bites 26 April: Tate & Lyle, Morrisons, Gousto
Tate & Lyle is in talks over the sale of its industrial ingredients business as the 160-year-old British food manufacturing group mulls a sweeping overhaul
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NewsCity News: Nestlé posts strongest quarter in a decade
Nestlé solidified its position as one of food and drink’s star performers in the pandemic
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NewsJustin King backs Snappy Shopper app with ‘significant’ investment
King is set to join the board as a non-exec when the fundraising is complete
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NewsMeat giant JBS makes major plant-based move with Vivera deal
The globe’s largest protein producer agreed to acquire Dutch based-Vivera for an enterprise value of €341m (£296m)
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NewsIssa brothers ‘willing to sell forecourts’ to seal Asda takeover deal
This week the CMA gave the EG Group owners and private equity firm TDR Capital five days to offer “binding proposals” to tackle its concerns
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NewsCity snapshot: Retail sales rebound ahead of reopening
Retail sales volumes continued to recover in March ahead of the reopening of non-essential shops, according to date from the Office of National Statistics
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NewsMedia Bites 23 April: Co-op, Nestlé, Deliveroo
The Co-op retail chain has announced a shake-up of its store management structure which is expected to affect 2,000 staff
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NewsBeau’s secures £400k to bring vegan ice cream to wider audience
Plant-based ice cream start-up Beau’s has netted a £400k investment to open a manufacturing facility and launch a subscription service.
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NewsThe Hut Group strengthens snacking capability with £43m Brighter Foods deal
The acquisition allows THG to bring more snacking manufacturing in-house, reducing lead times for NPD launches “significantly”
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NewsCity snapshot: Booming coffee sales drives Nestlé first quarter sales outperformance
Nestlé has reported a 7.7% jump in first quarter organic growth, boosted by a surge in coffee sales and early signs of recovery in out-of-home channels
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NewsMedia Bites 22 April: Uber Eats, Heineken, Amazon
Uber Eats will launch in Germany for the first time over the next few weeks, starting in Berlin, in its biggest entry to a new country since 2018.
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NewsMedia Bites 21 April: Asda, Tobacco, ABF/Primark
The £6.8bn takeover of Asda could lead to higher fuel prices in some parts of the UK, the UK competition watchdog has warned
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NewsCity snapshot: Solid start for Heineken as strong growth in Africa makes up for Covid hit in Europe
Heineken has reported a “solid” start to the year with profits growing despite trade in Europe continuing to be hit by lockdowns. Plus, Coca-Cola European Partners changes its name following approval for its acquisition of Asia-Pacific Coke bottle Coca-Cola Amatil.
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NewsCMA finds Issa brothers’ £6.8bn Asda deal could hike petrol prices
Watchdog has given the brothers and private equity firm TDR Capital five days to offer “binding proposals” to tackle its concerns
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NewsFood and drink exports fall nearly 10% in pandemic
Most of the top 10 food and drink products exported by the UK were negatively affected by Covid-19 and restrictions of movement
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NewsMultivitamin startup Feel secures £4.5m investment to fuel growth
Founded by Boris Hodakel in late 2019, the business has grown rapidly in its first year, with active subscriptions for its range of all-natural multivitamins and omega 3 and immunity-boosting supplements exceeding 21,000.
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NewsCity snapshot: ABF rebounds with ‘record’ Primark sales on reopening
Associated British Foods has seen ‘record’ sales on the reopening of its stores last week to bounce back from a first half of a double-digit revenue fall and shrinking profits