All Finance articles – Page 2
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NewsReal Good Food marks trading improvement
The Renshaw and Brighter Foods owner has reported third-quarter sales were in line with board expectations
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Premier Foods plans £1.4bn capital reduction
The proposed move by the maker of Mr Kipling cakes is designed to allow greater flexibility in paying dividends and managing capital
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BGF invests £7.7m in Cooplands expansion
The latest financial boost from the growth capital investor adds to the £8.5m commitment three years ago, as the bakery chain plans more store openings
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Feature
Why is bakery so attractive to private equity?
November saw historic bread brand Hovis and Addo Food Group, which owns Pork Farms and Wall’s, bought by private equity firms. So, why is it such a good opportunity for these types of investors?
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Aryzta Q1 sales fall 20% as foodservice struggles
Improvements in retail and QSR channels at Aryzta have been offset by foodservice losses as a result of Covid-19, but the company has begun its journey back to ‘improved performance’
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Crust & Crumb invests £5.8m in Fermanagh bakery
The pizza specialist, based in Fermanagh, will use the money to create an NPD kitchen, extend its packaging and production areas and enhance automation
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Management shake-up at Aryzta as CEO exits
Aryzta has appointed restructuring and transformation officers, as chair of the board, Urs Jordi, steps into the role of interim CEO after Kevin Toland left
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Cake Box profits dip but online sales soar
Store closures due to lockdown took their toll on Cake Box’s H1 figures, but it is confident of making progress in H2 as online sales rise
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Finsbury Food Group sales ‘significantly’ recover
The business expects to deliver sales and profit growth in the current financial year, it said in a statement ahead of its AGM, assuming an effective Brexit deal can be reached
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Greggs 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
