Finance news – Page 80
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NewsMedia Bites 27 January: Morrisons, Asda, Diageo, Fever-Tree
It’s a busy morning for grocery and fmcg news in the papers with coverage of the latest Morrisons results, job cuts at Asda, first -half results at Diageo and a trading update at Fever-Tree.
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NewsCrussh creditors were owed more than £11m
Food-to-go and juice bar group Crussh owed creditors more than £11m when it collapsed, according to a new report by administrators. FRP Advisory sold the business in a pre-pack administration deal worth £640k, the document also showed.
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NewsPensworth Dairy to close after loss of biggest customer
The supplier is claiming it has been ‘forced out of business’ after Freshways bought its biggest customer
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NewsCity snapshot: Diageo sees surging sales and profits as consumers retain taste for premium drinks
Spirits giant Diageo has posted strong growth in first-half sales and profits as consumers continue to flock to its premium portfolio despite rising prices. Plus, Greencore downgrades expectations on lower food to go volumes and trading updates from Fever-Tree, Britvic and Tate & Lyle
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NewsMedia Bites 26 January: M&S/Brexit, Whiskas, Riverford Organic
The chairman of Marks & Spencer has called plans to ease post-Brexit trade ‘baffling’ and ‘overbearing’, as he became the latest business leader to attack the government over its economic policy
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NewsVirtual restaurant brand Peckwater pushes further into Europe
Virtual restaurant brand player Peckwater Brands has expanded its reach further into Europe with the acquisition of competitor Eatclever
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NewsJuice Executive expands with Juice 4 Thought acquisition
Organic cold-pressed juice manufacturer The Juice Executive has snapped up premium brand Juice 4 Thought to expand into new markets.
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NewsMedia 25 Jan: Amazon, Primark/ABF, insolvencies
Amazon workers in Britain are taking strike action for the first time, with a third of staff walking out at a warehouse in Coventry in a dispute over pay
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NewsCity snapshot: UK retail footfall steadily improves in 2022 but remains below pre-Covid levels
Footfall across UK retail destinations remains significantly lower than before the pandemic but improved steadily throughout 2022, a new report has revealed.
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NewsRiverford Organic sees profits fall after investing in people and packaging
The veg-box delivery business ramped up its marketing in a bid to grow customers after Covid-19
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NewsSeafood supplier Cook & Lucas brings in administrators
A major whitefish processor in Grimsby supplying the likes of Hilton Foods and Charlie Bigham’s has fallen into administration
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NewsCity snapshot: ABF sales jump as commodity costs and inflation ease
Associated British Foods grew revenues by 20% in the quarter encompassing Christmas as it benefited from a less volatile inflationary environment, easing commodity costs and ‘resilient’ consumer spending
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NewsDeal values plunge as inflation and lack of debt hit M&A
Deal values in the food and drink industry slumped in 2022 as suppliers battled spiralling costs, consumers cut back on spending and private equity firms had a harder time securing debt for M&A, according to a new report.
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NewsMedia Bites 24 January: Tesco, Sainsbury’s, Chapel Down
The main retail story in this morning’s papers covers the fallout from Tesco chairman John Allan’s comments that food companies may be using inflation as an excuse to increase prices further than necessary
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NewsCérélia acquisition of dough brand Jus-Rol rolled back by CMA
The deals watchdog has blocked the French bakery giant’s acquisition of the ready-to-bake pastry brand following concerns it will push up prices for shoppers and lower product quality
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NewsLove Cocoa scores multimillion-pound backing to open luxury chocolate stores
Love Cocoa has ambitious plans to take the fight to rival premium chocolatier Hotel Chocolat by opening 10 bricks-and-mortar outlets over the next three years
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NewsCity snapshot: Revenues sparkle at Chapel Down as market share grows
Sparkling wine sales at English producer Chapel Down have fizzed 53% higher as a record number of bottles of its premium offering were sold last year. Plus, consumer confidence turns a corner in the UK following 15 months of decline
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NewsDash Water closes £9m round to shake up soft drinks market
Co-founder Alex Wright called the £8.7m series A round “big moment” for the business.
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NewsMedia Bites 23 Jan: Asda/EG Group, Tesco, Morrisons
The billionaire owners of Asda are exploring a merger of the supermarket and their UK petrol forecourts business in a blockbuster deal that would create a retail giant worth more than £10bn
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NewsVibrant Foods brings in new CEO and chair
The South Asian foods specialist has appointed a new leadership team to spearhead further growth under private equity owners Exponent