Finance news – Page 178
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NewsJJ Foodservice bucks wholesale trend with sales increase in 2020
Wholesaler put the success down to its ability to diversify its offer at the beginning of the first UK-wide lockdown
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NewsUbamarket readies mass rollout of hospitality app following £3m raise
Company has hired four members of staff to focus on integrating it’s scan and go app with more retailer point-of-sale systems
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NewsCity snapshot: Coca-Cola European Partners sweetens offer for Coke bottler Amatil
Coca-Cola European Partners has sweetened its offer for Asia-Pacific Coke bottle Coca-Cola Amatil to reflect an improvement in global trading conditions. Plus, Kerry Group reveals plans to buy Spanish biotech firm, Jim McCarthy steps down as Wynnstay chairman and Ultimate Products acquires German kitchen electrical brand Petra.
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NewsMedia Bites 15 Feb: Deliveroo, Brexit exports, Patisserie Valerie
Deliveroo is continuing its march into groceries with a major expansion of services across the UK
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NewsOcado’s booming retail sales received short shrift from the City
Where are the customers?” asked one broker as Ocado’s booming retail sales failed to impress investors
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NewsLotus plots global growth drive for UK brands with new international division
Nakd and Bear owner Lotus Bakeries is to set up a dedicated international hub for its UK brands make a concerted push to grow their global distribution.
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NewsCity snapshot: Symington’s hires advisors as it eyes £100m sale
The private equity owners of Leeds-based food group Symington’s have hired bankers to explore sales options. Plus, Kraft Heinz sells nuts business to Hormel Foods for $3.4bn, PepsiCo boosted by at home snack consumption and all the rest of the latest news from the City
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NewsMedia Bites 12 Feb: Kraft Heinz/Planters, Asda, Marston’s
Kraft Heinz has agreed to sell its Planters peanuts and snacks business to Hormel Foods for $3.35bn as it seeks to shore up its balance sheet and boost growth
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NewsSymington’s private equity owner explores sale options
Chicken Tonight owner Symington’s has hired advisors to explore sale options following a successful turnaround
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NewsCMA gives Diageo the green light to complete Chase acquisition
UK regulators have cleared Diageo’s acquisition of Chase Distillery after concluding the deal will not result in a “substantial lessening of competition”.
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NewsArla shrugs off foodservice sales plunge as branded revenues soar
Many consumers turned to cooking and baking under lockdown, helping to boost sales of Arla’s global brands Lurpak, Arla and Puck
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NewsMedia Bites 11 Feb: Coca-Cola, Heineken, SSP Group, Sainsbury’s
Coca-Cola’s sales dropped 5% in the final quarter of 2020, as a resurgence of coronavirus cases prompted renewed curbs on restaurants and bars.
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NewsCity snapshot: CCEP posts double digit drop in annual sales amid out-of-home slump
UK and European Coke bottler Coca-Cola European Partners has reported an 11% drop in annual sales as its away from home volumes have plunged by more than a quarter
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NewsWarburtons invests in The Artful Baker as Batch Ventures gets off the ground
Warburtons has backed biscuit producer The Artful Baker in the maiden investment as part of its Batch Ventures bakery innovation fund.
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NewsCoca-Cola predicts improved 2021 despite double-digit sales drop
After a difficult year, Coca-Cola’s numbers improved in the fourth quarter
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NewsGiles Brook joins Bio & Me as lead investor
Brook joins Bio & Me as lead investor and advisor, with his six-figure backing to be used to raise brand awareness and help with new product launches.
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NewsCity snapshot: Heineken slashes 8,000 jobs as pandemic plunges brewer into the red
Heineken is cutting 8,000 jobs around the world in a €2bn cost-saving drive to reshape the group and kick-start growth in the wake of the coronavirus pandemic.
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NewsMedia Bites 10 Feb: Ocado, Tesco, Brewing and pubs
Ocado sharp rise in sales and profits is put in context, with the papers noting the online retailer has still never made an annual profit
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NewsChapel Down drops beer business Curious Drinks to focus on wine
Chapel Down invested heavily into building the Curious brand over the past decade
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NewsOcado loss falls to £44m after bumper retail growth
The online grocer has cut its annual loss by almost 80% amid booming sales during the pandemic, but warned growing costs will continue to constrain profitability