All Finance articles – Page 2
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NewsGreggs to cut 820 jobs as lockdown sales fall
CEO Roger Whiteside said that without mitigating action the business “will not be profitable”, noting some employees have accepted reduced contract hours to minimise the risk of further redundancies
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Private equity firm acquires Addo Food Group
PAI Partners has simultaneously acquired chilled savoury pastry producer Addo Food Group and chilled food supplier Winterbotham Darby to create a chilled food platform
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Sweet Nothing Bakehouse launches Crowdfunder campaign
In return for pledges, Sweet Nothing Bakehouse is offering rewards including unlimited coffee, afternoon tea, treat boxes and Christmas gifts
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Revenue up at Premier Foods’ Sweet Treats but profit falls
Profit in the Sweet Treats division, which includes Mr Kipling and Cadbury cakes, was impacted by incremental Covid-19 costs and additional marketing spend
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Hovis bought by private equity firm Endless
Endless, a UK-based mid-market private equity firm, has seen off competition from Italian company Newlat Food by securing a deal to buy the 134-year-old bakery brand for an undisclosed sum
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Revenue falls at Allied Bakeries but profits improve
Revenues at Allied Bakeries, which is owned by ABF, have declined following the loss of its biggest own label contract but a significant cost reduction programme has seen profits improve
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Bross Bagels launches crowdfunding campaign
The money will go towards a new production site which will help the Edinburgh-based business keep up with demand, as well as help it grow wholesale and online trade
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Schenck Process to acquire Baker Perkins
Schenck Process said the acquisition of the baking equipment supplier will significantly strengthen its European capabilities in the food processing and equipment sector
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Social enterprise Big River Bakery secures equipment funding
The Newcastle-based social enterprise used the funding to buy equipment for its new premises which combines a production facility, café, retail space and training hub
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Sixty staff at Jenkins Bakery in Wales face redundancy
Up to 20% of the bakery’s workforce could be made redundant as footfall and sales drop, but the firm said it welcomes suggestions from staff on how to avoid or reduce job losses
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Cake Box sales bounce back after reopening stores
Fresh cream cake specialist Cake Box said its confident the firm’s franchise store rollout programme will return to pre-Covid levels as its sales recover
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Ferrero acquires Fox’s Biscuits from 2 Sisters for £246m
A Ferrero-related company will acquire two manufacturing sites in Batley and Kirkham as part of the deal, which is expected to complete on 31 October 2020
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Aryzta board seeks ‘simplified model’ as it posts €18m loss
Covid-19 has ‘significantly’ impacted Aryzta’s full-year results, which saw revenue fall 13.4%, as the firm’s new executive board looks to a simplified model to reduce debt
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CSM Bakery Solutions sells European ingredients business
CSM has reached an agreement with an investment subsidiary of Investindustrial, with the sale expected to be completed in early 2021
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Hovis receives takeover bid from Italian firm Newlat Food
The Italian company has made a non-binding offer for Hovis Holdings Ltd, which is currently owned by Premier Foods and The Gores Group
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Greencore sales slump but food-to-go is improving
Greencore’s revenue has fallen 14% for the year ending 25 September 2020 but its food-to-go performance was improving in Q4
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Urban Eat joins Samworth Brothers’ Fresh Food For Now division
Food-to-go brand Urban Eat will join Samworth Brothers’ Fresh Food For Now Company offer after it was acquired by the firm in August
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Greggs could cut jobs as sales remain below pre-Covid levels
Greggs has proposed a series of changes, which are subject to union and employee representatives consultation, as sales are expected to remain below 2019 levels for the foreseeable future
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Online marketplace launched to help bakers find production space
Occupyd caters to the foodservice and hospitality industries, as well as workshops and event spaces
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Real Good Food sales down 28% but recovery is in sight
Revenue at Renshaw and Brighter Foods owner suffered a double-digit dip for the first five months of the financial year, but sales in August were only 7% lower than in 2019
