Finance news – Page 274
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NewsCity snapshot: EG Group to buy Asda forecourts for £750m
The Issa brothers and TDR capital have announced a financing package to underpin their £6.8bn acquisition of Asda from Walmart, which includes plans to sell the supermarket’s forecourts business and certain distribution assets. Plus, Jeff Bezos to step down at Amazon and all the rest of the latest news from the City.
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NewsMedia Bites 3 Feb: Amazon, Nestlé, Kantar
Amazon CEO Jeff Bezos, who founded the company in 1994, will step down after ecommerce giant recorded $100bn in sales for last three months of 2020.
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NewsCity snapshot: Lockdown helps supermarket sales growth to accelerate in January
The UK-wide coronavirus lockdown has spurred further growth in take home grocery sales during January, as shoppers spent £1bn more on supermarket food year-on-year during the month
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NewsMedia Bites 2 Feb: Marston’s, whisky, Amazon
Marston’s has rejected a £693m offer from the Beverly Hills-based private equity group Platinum Equity on the basis that it “significantly undervalues” the business.
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NewsJW Filshill acquires Eldorado Wines as it eyes growth through diversification
The new business stream will operate under a subsidiary, Differentiator Brands
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NewsAvara Foods enjoys solid growth despite pandemic challenges
The poultry giant saw turnover climb by 5.6% in its latest accounts, while pre-tax profit rose 14.3%
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NewsCity snapshot: Gusbourne DTC sales soar during lockdown
Revenues at English sparkling wine producer Gusbourne have fizzed higher as drinkers ordered more from the company’s own website during lockdowns. Plus, Coca-Cola European Partners received clearance from Australian competiton watchdogs for its acquisition of Coca-Cola Amatil.
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NewsMedia Bites 1 Feb: Marston’s, Getir, High Street retail
The pub chain Marston’s has received a takeover approach from a US private equity group in a move that could fuel a spate of deals in the embattled hospitality sector
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NewsSpirit sales in North America uplift Diageo despite closure of pubs
The maker of Johnnie Walker and Guinness surprised the market on Thursday by reporting a 1% rise in organic net sales
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NewsReckitt venture arm invests £4m in Indian male grooming player
Reckitt Benckiser’s venture division has led a £4m funding round in Indian-based Bombay Shaving Company.
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NewsPepsiCo and Beyond Meat launch ‘win-win’ Planet Partnership joint venture
The move will also see the consumer goods giant launch a new range of sustainable, ethical products
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NewsPots & Co lines up US expansion with General Mills cash
The investment arm of General Mills, 301 Inc, has invested an initial £5m into Pots & Co to help fund its US and range expansion
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NewsCity Snapshot: Pots & Co receives £15m boost from General Mills’ venture arm
Posh pudding brand Pots & Co is eyeing a scale-up of its US operations and expansion of its savoury ranges after receiving multimillion-pound backing from the venture capital arm of food giant General Mills.
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NewsMedia Bites 29 Jan: Diageo, Lidl, Mondelez
A tequila boom in the US drove up sales at Diageo, helping the world’s largest distiller defy expectations of falling revenues
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NewsCity snapshot: US growth boosts Diageo despite pandemic hit to travel sales
Global spirits giant Diageo has shrugged off the closure of pubs and bars across the world and a slump in travel retail to post a rise in organic sales. Plus trading updates from Fever-Tree, Britvic, Tate & Lyle and all the rest of the latest news from the City.
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NewsMedia Bites 28 January: Valeo, Poundland, Imperial Brands, Boots
Valeo has reportedly appointed Goldman Sachs to launch an auction that could fetch more than £1.5bn and cement its status as one of Europe’s biggest privately owned food producers.
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NewsSquare Root to launch £350k crowdfunding drive
It will offer up 7.2% of its equity, giving the business a pre-money valuation of £4.5m
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NewsHippeas closes $50m funding round
The money from The Craftory will be used to increase production capacity, boost distribution and continue with product innovation, as well as bolstering the business’ sustainability credentials.
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NewsMedia Bites 27 Jan: PespiCo/Beyond Meat, Greencore, PZ Cussons
Pepsico is to take a step beyond fizzy drinks and snacks into the plant-based meat sector after signing a joint venture with Beyond Meat
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NewsCity snapshot: Shop prices tumble as lockdown drags on
Shop prices have fallen by 2.2% this month as retailers desperately tried to entice consumers to spend money online as lockdown restrictions continued, according to the latest shop price index by the British Retail Consortium and Nielsen.