Finance news – Page 400
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NewsCity snapshot: Morrisons turnaround gathers pace with seventh quarter of growth
Morrisons continued to make progress with a turnaround as it reported the seventh successive quarter of like-for-like growth. Plus, profits plunge at Waitrose as margins are squeezed by the weak pound; Booker reports another quarter of growth; and Real Good Food to appoint external advisors to conduct a full review of the company’s corporate governance and financial reporting procedures.
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NewsArmitage Pet Care snapped up by Rutland Partners
Premium pet food and accessories group Armitage Pet Care has been taken over by private equity firm Rutland Partners for an undisclosed price.
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NewsMotor Fuel Group snaps up Manor Service Stations
The deal for an undisclosed fee will complete on 3 October
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NewsCity snapshot: Waitrose sales boosted by half-price promotion and wine discounts
Sales were up 6.4% at Waitrose, which will report its first half results tomorrow, last week to £133.9m, largely driven by the current half-price event and the big 25% off wine promotion running in stores.
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NewsMedia Bites 13 September: Apples, Philip Morris, McDonald's, coffee
UK apple growers are in the grip of a 20% shortfall in the supply of seasonal labour, pushing them towards “a cliff edge” as Brexit nears, the industry has warned.
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NewsWhat Kraft Heinz’s super young new CFO tells us about age-blind recruitment
David Knopf has become chief financial officer of Kraft Heinz aged just 29 - and prompted a slew of coverage focusing on his age
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NewsUK inflation jumps to 2.9% in August
The UK Consumer Prices Index jumped to a higher than expected 2.9% in August from 2.6% in July, driven by record price rises in clothing and footwear.
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NewsMedia Bites 12 September: ABF, Tesco, The Body Shop
The latest results from Associated British Foods come under the media spotlight, with the performance of Primark in particular focus, rather than the food business.
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NewsCity snapshot: Hilton Food Group records first-half sales rise but no mention of Seachill deal
An increase in volumes and the weakness of the pound have boosted Tesco red meat supplier Hilton Food Group in the first half, with a good performance recorded in Australia, Ireland, Sweden and Portugal partly offset by a more challenging market in central Europe. Plus, double-digit rises in the first half for Applegreen.
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NewsHiver launches £350k crowdfunding push to finance expansion
It is offering 8% of its equity via the campaign to finance the expansion of its HQ team and an annual brand push
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NewsOverhang asks crowd for £150k to grow energy drink brand
Drinks start-up company Never Felt So Good is seeking a £150,000 investment from the crowd to grow its Overhang energy drink brand.
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NewsJerome Chevrier to lead Spar International Chinese business
Chevrier has previously managed Carrefour’s regional operations in China
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NewsMoy Park sold to US chicken producer Pilgrim's Pride in $1bn deal
Moy Park has been sold by its scandal-hit Brazilian owner JBS to Pilgrim’s Pride, the second biggest poultry producer in the US
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NewsIsle of Harris Distillers wins funding for whisky development
The first batch of its ‘The Hearach’ Scotch is expected to be bottled from late 2020…
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NewsTulip expands UK base with acquisition of Easey Holdings
Danish Crown-owned Tulip completed the acquisition on 8 September, subject to CMA approval
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NewsDavid Caré joins Wessanen as international sales director
Caré joins from Nando’s, where he was director of international business development
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NewsCity snapshot: ABF buys Italian balsamic vinegar producer Acetum
Associated British Foods has acquired Acetum, an Italian producer of balsamic vinegar of Modena, as it upgrades its full-year earnings forecast due to the weak pound.
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NewsMedia Bites 11 Sep: Sainsbury's, Morrisons, Dairy Crest
Sainsbury’s is kicking off a search for a successor to David Tyler, its long-serving chairman, according to Sky News.
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NewsNestlé hopes to tap vegan boom with Sweet Earth acquisition
Nestlé is the latest global fmcg giant to snap up a plant-based food business as it hope to re-energise flagging sales by tapping booming consumer demand for vegetarian and vegan products.
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NewsMcBride bounces back from bruising price war
Own-label supplier McBride was an early victim of the supermarket price wars as heavy branded discounting squeezed sales, but the household goods supplier appears on the way back.