Finance news – Page 566
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NewsMark Allen set for £1.2m pay-out for 'transforming' Dairy Crest if Müller deal a success
Dairy Crest CEO Mark Allen is in line for a potential £1.2m windfall if the proposed £80m acquisition of its liquid milk operation by Müller gets signed off by the UK competition watchdog.
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NewsGrowing Majestic’s online sales is not the priority, says Rowan Gormley
A number of commentators predicted that Majestic Wine’s takeover of Naked Wines would enable it to supercharge its online growth
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NewsCity Snapshot: Applegreen worth €300m after winning the backing of City funds
Irish forecourt operator Applegreen has revealed its flotation later this month will value the group at €299.7m (£218.8m) after winning backing
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NewsMedia Bites 16 June: Majestic Wine, Metro
All the papers follow The Grocer’s lead the morning with news that Majestic Wine is trialling selling single bottles of wine in the hope of winning new customers.
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NewsMajestic Wine to slow store rollout plans
Majestic Wine has cut its store estate expansion plans after announcing a 22.5% drop in pre-tax profits.
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NewsIan Deste is new Burton's Biscuits UK & Ireland MD
Most recently commercial director at Premier Foods, Deste left the business last September, and has previous with spells at Premier Foods and CCE
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NewsMüller's Dairy Crest acquisition on verge of fresh investigation
£80m deal for Dairy Crest’s loss-making dairies operation could be referred to a ‘phase two’ investigation unless “acceptable undertakings” were offered
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NewsAlastair Jackson made MD of Adams Food Ingredients
Jackson starts next week after spending five years as marketing director of sister company Adams Foods
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NewsMedia bites 15 June: Tesco, GSCOP, business rates
Tesco needs to raise more than £5bn to fix its balance sheet and regain its investment grade credit rating, according to rating agency Moody’s.
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NewsBooker executives sell on shares worth £11.5m
The group of execs, not including CEO Charles Wilson, sold a collective total of 6.8 million shares for 170p each
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NewsCity snapshot: Profits plunge at Majestic Wine
Full year pre-tax profits at Majestic Wine have slumped by 22.7%, FSTE falls on Greek debt worries, plus what’s on in the City this week.
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NewsImperial Tobacco completes $4.6bn US acquisition
Imperial Tobacco has completed the £4.6bn deal to buy US cigarette and e-cigarette brands from Reynolds and Lorillard.
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NewsIceland's Malcolm Walker: 'Price is not a weapon any more'
The frozen chain is shifting its strategy via a new Power of Frozen campaign that seeks to educate shoppers
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NewsMedia Bites 12 June: Sainsbury’s, Nestlé, PZ Cussons
Sainsbury’s CEO Mike Coupe acquitted of all charges by Egyptian courts, Nestlé attempts to trademark four-fingered KiKat bar fail and PZ Cussons brushes aside trouble in Nigeria to trade in line with expectations.
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NewsCity Snapshot: Waitrose sales heat up as sun shines
Waitrose said the arrival of sunny weather boosted sales 2.2% over the past week. Plus Contract Bottling and Speaking Water Brands merge to form Clearly Drinks. And the listed grocer’s continue a share price revival.
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WhiteWave acquires plant-based foods group for $550m
Alpro owner WhiteWave Foods Company has agreed to buy a plant-based foods manufacturer Vega for $550m (£354.5m).
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Permira gorges on healthy snacking businesses
Investment firm Permira, which recently sold Birds Eye owner Iglo Group to Nomad Foods, is combining two US snacks businesses after snapping up Medora Snacks and Ideal Snacks.
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NewsSupermarket woes to drag on to 2017, Moody's warns
Margins at the big four UK grocers are unlikely to recover for another 12 to 19 months as the price war continues to rage and like-for-like sales decline, ratings agency Moody’s has warned.
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NewsMedia Bites 11 June: Sainsbury's, Iceland, supermarket margins
Sainsbury’s first quarter results, which sparked a rally of supermarket shares, unsurprisingly get plenty of coverage this morning.
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NewsCity snapshot: Supermarket margins won't improve for 18 months
The big four UK grocers will not see a recovery in margins until at least 2016/17, according to ratings agency Moody’s.