All Finance articles – Page 20
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NewsPendergrast joins Pukka as head of retail
The pie brand boosts its senior team as it reveals a rise in year-on-year sales
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NewsGreggs predicts slow recovery as sales fall £357m
The business reported a drop of £357m in sales for the 2020 financial year as it predicts profits won’t recover until at least 2022
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NewsJestic and MKN agree distribution deal for combi ovens
Through the deal, Jestic Foodservice Solutions will distribute the German manufacturer’s combi ovens to the UK market
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FeatureBakery in review 2020: October to December
As 2020 draws to a close, we take a look at some of the biggest stories of the past three months
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NewsKudos Blends secures small equipment grant
The Shropshire-based company, which specialises in leavening agents, has used the grant to purchase a texture analyser
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NewsSSP Group sales halve amid Covid pandemic
The travel specialist, which counts Upper Crust amongst its portfolio, is taking ‘extensive action’ to protect staff and reduce costs as like-for-like sales fall 50.8% for the year ended 30 September 2020
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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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NewsPremier 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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NewsBGF 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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FeatureWhy 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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NewsAryzta 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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NewsCrust & 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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NewsManagement 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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NewsCake 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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NewsFinsbury 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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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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NewsPrivate 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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NewsSweet 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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NewsRevenue 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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NewsHovis 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