Finance

Shareholder challenges €800m Aryzta funding plan

Plans by frozen bakery giant Aryzta to raise €800m are being challenged by its largest shareholder.

Cake Box expects 40% hike in half-year turnover

Egg-free cake specialist Cake Box is expecting to report a 40% increase in revenue to £8.3m for the first half of its financial year.

Greencore selling US arm to focus on UK market

Greencore Group is to sell its entire US business to an affiliate of Hearthside Food Solutions in a $1bn (£817m) deal.

Patisserie Holdings share offer raises £15.7m for crisis-hit business

A share offer has raised £15.7m to help Patisserie Holdings continue trading in the face of a crisis sparked by serious financial irregularities.

Patisserie Holdings reveals £25m plan to save business

Patisserie Holdings is launching a share offer and has admitted it needs a £20m capital injection to avoid calling in administrators.

Patisserie Holdings finance chief arrested and bailed

Patisserie Holdings finance director Chris Marsh has been arrested, according to the crisis-hit business.

Patisserie Holdings needs cash injection to continue trading in current form

Patisserie Valerie owner Patisserie Holdings has said it cannot continue to trade in its current form unless it gets an immediate cash injection.

Patisserie Holdings shares suspended amid fraud fears

Patisserie Valerie owner Patisserie Holdings has launched an investigation into what it has described as serious – and potentially fraudulent – accounting irregularities.

Focaccia-style pizzas help drive 7.3% Greggs growth

A strong summer performance in the breakfast market and from new products including focaccia-style pizzas have contributed to sales growth at Greggs.

L-r: TPBI CFO Kamol Borrisuttanakul, CEO Somsak Borrisuttanakul, Intelipac's John Wilkinson and Duncan Edwards
  (Photo:  )

Thai firm snaps up UK’s Intelipac

Thai packaging company TPBI is to enter the paper packaging market for the first time after inking a deal to acquire stakes in UK firm Intelipac – the business that resurrected bakery packaging supplier Reynards last year.

Hovis disposes of three mills to focus on baking

Hovis is selling two of its flour mills to Whitworth Bros and closing a third as it looks to focus on its core baking business.

Aryzta underlying profit crashes more than 70%

Aryzta has reported steep declines in profit and earnings – but insists the business is well placed for future growth.

Real Good Food suffers £23m operating loss

Real Good Food chief executive Hugh Cawley has said the business will look back on the last financial year with “little pride or satisfaction”.

Are you planning to start or expand a business?

British Baker is currently running a series of features dedicated to exploring ways to start or expand a bakery business, giving readers the chance to learn from those who have already done it.

Jacksons’ £40m sandwich bread factory opens

Jacksons has opened a new £40m bakery that can produce 10,000 loaves of sandwich bread an hour.

Pictured (l to r): Pardip Dass, CFO; Sukh Chamdal, CEO; and Dr Jaswir Singh, COO
  (Photo: Cake Box )

Cake Box opens 100th store and announces NPD

Egg-free cake specialist Cake Box has opened its 100th store as it continues its rapid roll-out.

Steve Dawson joins RGF as non-exec director

Renshaw owner Real Good Food (RGF) has appointed Steve Dawson – who helped to turn around the Bahlsen US business – as an independent non-executive director.

Real Good Food supports Brighter Foods investment

Real Good Food Group, which this month sold Haydens Bakery, says rationalisation and new funding are enabling it to support investment in other parts of its business, such as Brighter Foods.

Finsbury to invest to meet demand for ‘artisan’ bread

Finsbury Food Group is to invest further to meet demand for artisan-style bread – and said it was committed to growing its business through further acquisitions.

Former McDonald’s US chief joins Aryzta board

Aryzta has made new independent board appointments to help turn the business around, and announced that banks have agreed to underwrite plans to raise €800m (£715m) through a new share offer.

Allied Bakeries ups prices to reduce operating loss

Allied Bakeries is continuing to reduce its losses – and will be looking to mitigate the impact of rising wheat prices.

Coca-Cola set to buy Costa in £3.9bn deal

Whitbread is planning to sell its Costa Coffee business to The Coca-Cola Company in a deal worth £3.9bn.

Eight Aulds shops remain following further closures

Eighteen Aulds shops have closed in the past month after the family-owned Scottish business placed its retail business into liquidation.

Genesis Crafty is sold in pre-pack deal to Tayto boss

Northern Irish firm McErlain’s Bakery – producer of the Genesis Crafty range and own-label cakes and breads – has been sold as a private investment to the boss of snacks supplier Tayto Group.

Lancaster wholesale bakery secures £250,000 funding

A new wholesale bakery business has launched in Lancaster and has its sights set on a £1m turnover target.

Aryzta announces plans to raise £715m in capital

Aryzta is aiming to raise around £715m as part of plans to strengthen its presence in the frozen bakery market.

Aulds closes four more stores in retail liquidation

Scottish family bakery Aulds has closed a further four stores after making the decision to liquidate its retail arm to focus on the wholesale and production operation.

Real Good Food raises £1m with open share offer

Real Good Food has raised £1m with an open share offer that it says had been heavily oversubscribed.

Cake Brands invests £100k in frozen dessert facility

West Sussex-based Cake Brands has expanded its frozen desserts capacity at its premises in Chichester.

Tesco and Carrefour deal to begin in October

A strategic alliance between Tesco and global retail giant Carrefour is expected to become operational in October 2018.

Topping Pie Company ramps up cruise ship business

South Yorkshire-based The Topping Pie Company has more than tripled the number of cruise ships serving its bakes.

Aulds will continue to supply products to Scotmid stores and independent retailers
  (Photo:  )

Aulds liquidates retail arm to focus on wholesale

Family-owned bakery Aulds has placed its retail business into liquidation to focus on its wholesale and production operation.

West Midlands family firm John Dwyer Bakery sold

Family business John Dwyer Bakery has been acquired by Bridgwater Bros, owner of frozen food supplier The UK Foodhall.

Warburtons set to end Stockton bread production

Warburtons is planning to stop producing bread at its Stockton-on-Tees site as a result of the declining wrapped bread market.

Weather hits sales growth and profit at Greggs

Footfall and costs at Greggs have been hit by the weather, with the business reporting a drop in profits.

Food to go bolsters Q3 performance at Greencore

Food-to-go sales have bolstered Greencore’s UK and Ireland business, resulting in a 1.4% growth in reported revenue in Q3.

Hot weather pushes feed wheat to five-year high

Wheat prices have continued to rise across the UK and Europe as a result of the hot, dry weather.

Mr Kipling turnaround drives Premier growth

A surge in sales of the previously ailing Mr Kipling brand has driven growth in Premier Foods’ revenue.

Premier Foods boss Gavin Darby re-elected as CEO

Gavin Darby has been re-elected as chief executive of Mr Kipling owner Premier Foods – although more than 40% of the vote went against him.

Air sector drives growth in SSP UK sales

SSP, which operates UK travel sites for brands including Starbucks and Upper Crust, has reported a 2.7% increase in like-for-like sales in its third quarter.

Freshpack to close after low margins deter buyers

Frozen pies and snacks manufacturer Freshpack is to close following an unsuccessful search for a buyer.

Finsbury Food Group fights 'unprecedented' cost hikes

Finsbury Food Group says it will deliver profits in line with expectations despite “unprecedented commodity and labour inflation”.

Prescot bakery in £30,000 crowdfunding push

An independent bakery in Prescot has raised almost £10,000 in 13 days as part of a £30,000 crowdfunding push to help expand its business.

AB Mauri completes Holgran / Fleming Howden acquisition deal

AB Mauri has acquired ingredients suppliers Holgran and Fleming Howden from Rank Hovis Milling.

Margins threatened by rise in wheat and butter costs

Bakers are facing continued increases in wheat prices as a result of the dry weather – as butter once again heads towards record highs.

Tesco and Carrefour to agree joint purchasing deal

Tesco and global retail giant Carrefour are set to enter a long-term strategic alliance designed to help the businesses lower prices.

Warburtons: non-bread drives sales as profits fall

Warburtons’ operating profit fell by more than a third last year as the business was hit by rising costs and a decline in the bread market.

Low shopper footfall hits Costa like-for-like sales

Costa like-for-like sales have fallen in the last three months – although overall sales rose thanks to new store openings and Express machine roll-outs.

Former Hovis bakery site in Wigan sold for housing

The site of a former Hovis crumpet and bread bakery has been sold to house-builder Taylor Wimpey.

Shareholder reveals why it wants Premier Foods boss out

Oasis Management Company – the largest independent investor in Mr Kipling owner Premier Foods – has accused CEO Gavin Darby of driving the business into “its current zombie-like state”.

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