Finance

Real Good Food secures further debt facility

Shareholders in Haydens and Renshaw owner Real Good Food have agreed to give the business a £4m short-term debt facility.

Finsbury boss: ‘Business environment isn’t going to get any easier’

Finsbury Food Group – which last month announced plans to close its Grain D'Or bakery in London – has said its focus on driving efficiency and scale has helped it weather challenging market conditions.

Real Good Food vows to shake up financial reporting

Haydens and Renshaw owner Real Good Food has said it is committed to improving its corporate governance and reporting after failing to fully report details of payments made to directors.

ABF: Ingredients in growth but bread under pressure

Allied Bakeries has been hit by “significant margin decline” as a result of low prices and cost pressure, according to parent company Associated British Foods (ABF).

Orchard Valley Foods and Candeco merge

Orchard Valley Foods has merged with Swedish decorations manufacturer Candeco Confektyr AB.

Pre-pack deal saves Sussex cake firm and 150 jobs

Sussex-based handmade cake business More Foods – which supplies retailers including Waitrose and Budgens – has been rescued in a pre-pack deal.

Premier agrees expanded Cadbury licensing deal with Mondelēz International

Premier Foods has secured an expanded licensing deal with Mondelēz International to produce Cadbury-branded cakes and ambient desserts.

Renshaw owner Real Good Food reduces expected earnings for second time

Haydens and Renshaw owner Real Good Food (RGF) has further reduced its earnings expectations.

Wrights Food Group acquires bread supplier Premier Catering

Wrights Food Group is to acquire Stoke-on-Trent bakery Premier Catering, which has been supplying it with bread for more than 30 years.

Real Good Food agrees £2m overdraft to plug funding gap

Renshaw and Haydens owner Real Good Food has secured a £2m overdraft facility with Lloyds Bank after discovering a shortfall in its finances.

Founder and finance director leave in shake-up at Real Good Food

Real Good Food – which last week saw its shares plunge following a profit warning – has announced the departure of its founder and its finance director.

Real Good Food shares crash following profit warning

Shares in Renshaw and Haydens Bakery owner Real Good Food plunged by a third yesterday (1 August) after the business issued a profits warning.

Geary’s Bakery expands with £4.5m funding

Family-owned bakery Geary’s Bakery has constructed a larger factory facility at its premises following a £4.5m investment from NatWest.

Greggs’ yum-yums production boosted by supply chain shake-up

Greggs has reported that its manufacturing and logistics shake-up, which has brought the closure and restructure of a number of sites, is boosting efficiency and product quality.

Thomas the Baker invests in £750k refurb at Helmsley store

Thomas the Baker is investing more than £750,000 in rebuilding and refurbishing its Thomas of Helmsley delicatessen.

Paul UK bucks ‘challenging conditions’ to grow 12%

Store refurbishments and new product development have helped drive growth at bakery and café chain Paul UK.

Greencore Q3 revenue up 76.6% - but challenges for cake and dessert in UK

Revenue at food-to-go business Greencore has soared despite “challenging conditions” in parts of its UK business.

Greggs raises £85k for We Love Manchester Emergency Fund

Greggs has raised £85,718 for the Manchester Evening News (MEN) We Love Manchester Emergency Fund through in-store collections.

Promise Gluten Free sells majority stake to Mayfair Equity Partners

Irish free-from bakery supplier Promise Gluten Free has sold its majority stake to private equity firm Mayfair Equity Partners.

Premier Foods Q1: Cake sales growth offset by grocery brands decline

New gluten-free Mr Kipling products have helped drive growth in Premier Foods’ cake division – although a steep drop in sales of grocery lines has dragged down the company’s overall performance.

Tasties of Chester rescued from administration

Food-to-go supplier Tasties of Chester has been rescued from administration in a deal that has saved 188 jobs.

Welsh bakery business Cake Crew to expand

Wales-based business Cake Crew is expanding to meet growing demand for its cupcakes.

Butter shortage looming, warns Arla boss

Bakers are set to face a butter shortage by the end of this year, according to comments by the boss of dairy giant Arla.

Ole & Steen bakery owner Lagkagehuset sold

Danish bakery business Lagkagehuset – owner of the Ole & Steen bakery brand – has been acquired by private equity firm Nordic Capital.

Real Good Food invests £15.5m in Renshaw and Haydens

Real Good Food is to invest £15.5m in subsidiaries Renshaw and Haydens Bakery.

Competitive wrapped bread market takes £25m toll on Warburtons

Warburtons’ turnover fell more than £25m last year as the “increasingly competitive” wrapped bread market impacted the business.

Thomas the Baker raises £10k for British Heart Foundation

Yorkshire-based Thomas the Baker has presented a cheque for £10,000 to the British Heart Foundation.

Costa sales up 8.7% as Whitbread records ‘good start’ to year

Whitbread has reported an 8.7% hike in total sales at Costa in its first-quarter results for the 13 weeks to 1 June.

Tale of two markets: Aryzta European sales rise as US business falls

Group sales at global bakery business Aryzta have remained flat despite growth in its European division.

SSP Group sales rise 8.1% to more than £1bn

Profits at Starbucks and Upper Crust travel sites operator SSP have soared by almost a quarter as sales break the £1bn mark.

Premier Foods FY results: ‘challenging’ year brings £12m profits slump

Full-year profits at Mr Kipling owner Premier Foods have fallen by almost 10% in what the company described as a challenging year.

Patisserie Valerie sales up 16% as store openings continue

Patisserie Valerie owner Patisserie Holdings has reported double-digit increases in revenue and profits.

Jempson’s and The Rye Bakery merge baked goods production

Sussex retail and café business Jempson’s is to create a ‘state of the art’ bakery operation in partnership with The Rye Bakery.

Weak sterling and high sugar prices drive 19% ABF revenue hike

Allied Bakeries owner Associated British Foods (ABF) has reported 19% year-on-year growth in revenue to £7.3bn in the first half of its financial year.

Bakery packaging supplier Pulse Flexible Packaging to lose 150 jobs

Pulse Flexible Packaging, which supplies businesses including Walkers Shortbread and Samworth Brothers, is to start production again after entering administration earlier this month.

Hill Biscuits in management buyout

Private equity investor LDC has backed a management buyout of Manchester-based Hill Biscuits.

Tesco sales driven by strong food growth

Tesco has announced sales growth and profit recovery in its preliminary results for 2016/17, its first UK like-for-like sales rise since 2009/2010.

Fewer deals but brands not budging on price, says IRI

The IRI’s new Big Question report on the grocery price war revealed it has saved UK shoppers £9.3bn over three years.

Rivington Biscuits for sale

The assets of the Wigan-based manufacturer Rivington Biscuits are now for sale, after the company went into administration in December.

EXCLUSIVE: Reynards enters administration – and is resurrected by Intelipac

Bakery packaging specialist Reynards, which entered administration last month, has been resurrected by Intelipac, a supplier of products including bakery and deli bags, carrier bags and corrugated cardboard boxes to retailers in the UK and Australia.

Tesco to pay £129m fine for false accounting scandal

Tesco has agreed to pay a £129m fine for false accounting, rather than face prosecution.

Rowe’s Cornish Bakers acquired by investment firm

Cornish craft bakery WC Rowe has been acquired by investment firm Iberia Industry Capital (IIC).

Park Cakes in management buy-out

Own-label cake and dessert supplier Park Cakes has been acquired in a management buy-out from private-equity firm Vision Capital.

Finsbury Food Group to launch Mary Berry cakes

Finsbury Food Group has secured the licence to produce a range of Mary Berry cakes.

Panini’s launches gluten-free range following £200k bakery investment

Swansea-based independent bakers Panini’s has launched a range of gluten-free products following a £200,000 investment from Lloyds Bank that enabled the business to redevelop part of its bakery.

Aryzta reports 2.8% revenue decline in half-year results

Aryzta has announced that its revenue has fallen by 2.8% to €1.9bn (£1.6bn) for the six-month period ended 31 January 2017.

£3m expansion plans for Pecan Deluxe Candy

North Yorkshire ingredients manufacturer Pecan Deluxe Candy is to spend £3m on an ambitious European expansion programme.

Consumer spending confidence ‘at highest level on record’

British consumer spending confidence is at its highest recorded level, according to analysts Nielsen.

CBA takes action in face of business rates furore

Trade body the Craft Bakers’ Association (CBA) has raised concerns about the impact of business rates hikes with Chancellor Philip Hammond.

A sausage roll from Two Magpies Bakery
  (Photo:  )

Baker puts £8.17 price tag on sausage rolls to highlight business rates threat

Two Magpies Bakery in Southwold has hit the national press after advertising sausage rolls for £8.17 – a 177% mark-up on the usual £2.95 price tag.

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