City snapshot: Former Asda meat exec to take charge at Crawshaw

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Butchery group Crawshaw (CRAW) has announced the appointment of former Asda meat executive Jim Viggars as CEO.

Viggars, who succeeds Noel Collett, has more than 30 years’ experience within the meat industry across procurement, customer strategy and agriculture.

He was head of Asda’s fresh meat department between 2005 and 2015, and previously buying manager for the supermarket group’s pre-packed pies division, and a fresh meat buyer for the group before that. He was sales director for UK Import & Distribution Services importing grass fed beef into Europe in 2015-2017.

Nick Taylor becomes chief financial officer and replaces Alan Richardson. He joins from Janan Meat where he was chief financial officer from January 2017. He was previously finance director of the egg products division at Noble Food Group, and between 2002 and 2015 he held a variety of roles, including finance director and general manager at ABP Food Group’s Doncaster site.

Taylor will also become company secretary. Mark Naughton-Rumbo, non-executive director, has meanwhile taken on the role of interim company secretary.

Jim McCarthy, Crawshaw chairman, said: “I am pleased to welcome Jim and Nick to Crawshaw. They both have clear commercial acumen and careers which are steeped in the industry. I am confident that their combined expertise, experience and outlook will help drive the Group forward.”

The statement to the Stock Exchange adds: “James (Jim) Russell Viggars, aged 50, left ASDA in 2015. His departure from ASDA was referenced in an article by The Grocer citing his dismissal for gross misconduct in connection with breaches of Walmart’s expenses policies.”

Viggars, who had been the face of several Asda TV ads and received the retailer’s Peter Asquith Award in 2014 for Outstanding Achievement over a 31-year career, was suspended on full pay in May 2015 pending an investigation into alleged breaches of Walmart’s policies on expenses. He was later dismissed and an appeal denied.

The new appointments take effect from 21 May.

Morning update

Heineken (HEIA) has acquired a minority stake in Belize Brewing Company, a market leader in beer and a subsidiary of Bowen & Bowen (B&B).

B&B has been an importer and distributor of Heineken brands including Heineken, Amstel and Red Stripe in Belize since 2016.

The group did not disclose financial terms.

Marc Busain, president Americas at Heineken, said: “We are delighted to announce the new partnership with Belize Brewing Company and the Bowen family.

“We recognise BBC’s strong capabilities and position in the country, which has a fast-developing tourism industry and stable GDP growth, and offers a lot of potential to grow our premium offering, led by the Heineken brand. We look forward to continue growing together.”

Michael Bowen, president and chief executive at Belize Brewing Company, said: “We welcome Heineken as our new partner. Heineken is a world-class family owned company that shares our values. We look forward to improving and growing our company with the help of our strategic partner.”

On the markets this morning, the FTSE 100 edged up 0.1% at 7,707.2pts.

Early risers include Crawshaw Group (CRAW), up 9.6% to 5p, following the announcement of its new chief executive and chief financial officer, Devro, (DVO), up 1.6% to 224.5p, McColl’s Retail Group (MCLS), rose 1.4% to 244.8p and Morrisons climbed 0.8% to 253.5p.

Fallers so far today include SSP Group (SSPG), down 1% at 639.7p, British American Tobacco (BATS), off 0.7% at 3,886p.5p, Greggs (GRG), down 0.8% at 1,057.8p and Premier Foods (PFD), down 0.7% at 36.5p.

Yesterday in the City

The FTSE 100 closed up 0.5% at 7,701pts.

Nomad Foods (NOMD) reported first-quarter adjusted EBITDA up 16% to €103m (£90.7m) on revenue up 1.5% to €539m. Organic revenue climbed 2.9%, 1.4% of which was accounted for by price increases.

Stéfan Descheemaeker, chief executive, said the year was off to a strong start. “These results, which reinforce the sustainability of our growth model, are attributable to the team’s focus and execution towards our goals of driving frozen food category growth and increasing our market share.

“Based on our year-to-date performance and visibility into the balance of the year, we now expect 2018 guidance at the high end of our prior expectations.”

Noam Gottesman, co-chairman and founder, said it was a good time to be in the frozen food business with the category growing across Western Europe and, in many cases, outpacing other packaged food categories.

“Our strong first quarter performance and plans for the remainder of 2018 put us on track to deliver another year of impressive financial results.”

The company expects adjusted EBITDA of around €355m-€360m for the full year.

Dairy Crest Group (DCG) has appointed a former Britvic chief financial officer, John Gibney, as non-executive director and a member of the audit, remuneration and nomination committees effective from 18 May.

Andrew Carr-Locke will not stand for re-election at the AGM in July when Gibney will assume the chairmanship of the audit committee. Gibney is also an independent non-executive director of PureCircle(PURE).

The biggest market fallers included, AG Barr (BAG), down 2.4% at 685p, Finsbury Food Group (FIF) fell 2.3% to 128p, Greencore Group dipped 1.7% to 161.4p, Marston lost 2.2% to close at 106.8p, Produce Investments (PIL) fell 2.2% to 159p and Wynnstay Group (WYN) wandered 1.9% lower at 451.3p.

Climbers included Associated British Foods (ABF), up 2.1% to 2.798p, Coca Cola HBC AG (CCH), rose 3.1% to 2.542p, Majestic WINE (WINE), was up 2.5% to 432p and Morrisons (MRW) closed up 2.7% following its trading update.