Finance news – Page 279
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NewsCity snapshot: CapVest finally agrees deal to buy Young’s Seafood
Private equity investor CapVest has finally won the long running bidding process for seafood specialist Young’s and will place it in an enlarged Karro Food Group. Plus, Morrisons restates first-half and full-year restated 2018/19 results on a IFRS 16 basis and all the rest of the latest news from the City.
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NewsAs Nature Intended back in the black as it plots future expansion
Health and organic food retailer As Nature Intended swung to a pre-tax profit in 2018 despite having to shut down one of its main London shops in a refurbishing programme.
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NewsCapVest-owned Karro acquires Young’s Seafood
Karro Food Group, the pork processor owner by private equity investor CapVest, has agreed terms to buy UK seafood business Young’s.
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NewsBespoke supplements brand The Nue nets $9m investment to accelerate growth
The Nue plans to use the capital raised to grow its direct-to-consumer offering and expand product range.
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NewsScottish dairy business McQueens to create 100 jobs in ‘ambitious’ expansion push
McQueens Dairies has revealed an “ambitious” multi-million expansion plan which will see the creation of up to 100 new jobs within two years.
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NewsBooker retail MD to take on Motor Fuel Group role
Fox will start his new role as MD of retail with the forecourt operator on 1 September
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NewsClive Schlee to step down as Pret a Manger CEO
Schlee has overseen a tenfold rise in sales, helping Pret become a billion-pound business with over 550 shops
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NewsCity snapshot: UK growth stalls amid stagnant economy and Brexit uncertainty
UK economic conditions remained stagnant in the second quarter of the year amid a fall in manufacturing output and the impact of ‘relentless Brexit uncertainty’, according to the British Chambers of Commerce.
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NewsMedia Bites 1 July: Sainsbury’s, Brexit, AB InBev
Sainsbury’s boss Mike Coupe has said pressure on retail means mergers are inevitable — months after his £14bn move for Asda was blocked by regulators.
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NewsThorntons sales continue to slip in second year under Ferrero
Newly filed accounts at Companies House show Thorntons’ sales fell 3.3% to £135.2m in the 53 weeks to 31 August
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NewsFreed Foods secures funding to support growth in gluten-free market
The London-based brand, trading as Mister Free’d, issued £1.5m worth of new shares last week
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NewsParfetts hails turnaround of ex-Blakemore depot
The cash & carry operator bought the Middlesbrough depot in June 2018
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NewsCity snapshot: UK consumer confidence continues to fall in June
UK consumer confidence fell back once more in June, with all five measures of GfK’s consumer confidence index falling back and pointing to a ’turbulent’ summer.
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NewsMedia Bites 28 June: Greene King, Boots, Sugar content
The new chief executive of Greene King used his first set of results to commit the company to brewing, dismissing suggestions that he might follow Fuller’s in selling its beer business.
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NewsAmber Beverage buys UK drink distributor Cellar Trends in push for global growth
Spirits producer Amber Beverage Group has acquired UK booze distributor Cellar Trends, pressing ahead with its international expansion plans.
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NewsBoots UK profits decline amid wider high street woes
Boots UK third quarter profits slumped as the pharmacy chain proved the latest victim of declining footfall on the high street.
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News2 Sisters returns to underlying growth as turnaround strategy ‘gains momemtum’
Quarterly underlying profits at 2 Sisters’s parent company Boparan rose for the first time in over two years, as the chicken giant’s turnaround strategy has begun to take hold.
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NewsHenry Dimbleby to lead Defra food sector review
The Leon co-founder’s review will form part of work for a new National Food Strategy for England
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NewsCity snapshot: Golden summer boosts Greene King but 2019 trading hit by poor weather
Greene King has posted a rise in annual sales and underlying profits driven by the UK’s warm summer last year and the World Cup, but has warned its trading so far this year has been impacted by the wetter weather.
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NewsMedia Bites 27 June: Starbucks UK, Boots, General Mills
Starbucks UK has reported its first annual loss since 2013 after store closures, rising costs and the renegotiation of leases took their toll.