Finance

John Duffy, chief executive of Finsbury Food Group
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Finsbury shares up on preliminary results

Shares in Finsbury Food Group, the large bakery manufacturer and supplier, rose 25% yesterday after the company announced pre-tax profits had grown by 76% to £11.4m last year.

Charlotte Marrifield, Harrogate Cake Company and Jon Haw, Royal Bank of Scotland
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Pastry expert buys Harrogate Cake Company

Top pastry chef Charlotte Marrifield has bought the Harrogate Cake Company with funding support from the Royal Bank of Scotland for an undisclosed sum.

New Nottingham bakery reveals ambitions

Tartisan, the recently opened bakery in Nottingham, has revealed plans to grow nationally and abroad in the next five years.

Second Cup
Second Cup Coffee Company is planning 500 sites in the UK
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Canadian coffee chain plans UK expansion

Second Cup Coffee Company, the Canadian chain, is planning to open 500 UK sites in the next 10 years. 

Pork Farms
Pork Farms Food has launched a new corporate name
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Pork Farms Group rebrands as Addo Food Group

Pork Farms Group, the chilled food producer, has rebranded as Addo Food Group, following the acquisition of the chilled savoury pastry business Kerry Foods. 

Morrisons
Morrisons downgraded by Moody's
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Morrisons’ rating downgraded following profit fall

Moody’s, the investors service, has downgraded its rating for Morrisons. 

Greggs
Greggs is reportedly spreading its reach across Ireland
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Greggs ready to set down roots in Ireland

Greggs is to debut in Ireland later this year or early in 2016, Applegreen chief operations officer Joe Barrett has told the Irish Independent newspaper. 

Ed Rowlands
BFP appoints Ed Rowlands as operations director
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Exclusive: BFP appoints new ops director and invests £1m in fleet

Bakery supplier BFP Wholesale has appointed a new operations director as it also revealed it had replaced 75% of its transport fleet at the cost of £1m. 

BB's King's Lynn
BB's in King's Lynn has just opened
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BB's Coffee & Muffins plans to double in size

BB’s Coffee & Muffins plans to double in size in the next five years as it opens sites in the UK and Ireland including a new masculine-look concept in Dublin. 

Top five
Check out our top 5 stories this week
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Top 5 stories this week

Been a bit busy? Read our round-up of the five biggest stories this week. 

Prima Bakeries
Prima Bakeries anticipates rapid growth
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Cornish Prima Bakeries anticipates rapid growth

Prima Bakeries, the Cornish company, has just invested £100,000 as it anticipates major growth for the brand. 

Waitrose
Waitrose sees LFL sales drop in first half
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Waitrose sees drop in first-half LFLs

Waitrose has revealed that like-for-like sales were down by 1.3% in its first half, as it insisted cut-price techniques were not hitting profits. 

Morrisons LFLs down 2.7%, reveals plans to sell 11 stores

Morrisons saw like-for-like sales (LFLs) drop by 2.7% in its first half – and has announced plans to close 11 stores.

Apostrophe
Apostrophe is going through senior management changes
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Apostrõphe managing director exits the business

Apostrõphe, the bakery café group, is missing a managing director after Richard Franks stepped down. 

Costa
Costa prices may rise to offset National Living Wage
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Whitbread may increase prices to offset National Living Wage

Costa’s parent company Whitbread has warned that it may be forced to raise prices to combat the effects of the National Living Wage. 

Sugar
FDF director advises industry to unite in war on sugar
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FDF urges industry to unite on sugar attack

The Food and Drink Federation (FDF) boss has warned the industry that no sector is safe from the attack on sugar. 

Private equity firm snaps up cake supplier

Cake manufacturer Bright Blue Foods has been acquired today for an undisclosed sum by private equity investor Endless. 

Mangobean
Mangobean has aggressive expansion plans
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Franchise coffee chain reveals expansion plans

Mangobean, the franchised coffee shop operator, has a pipeline of openings planned this year with the goal of achieving an estate of 125 shops. 

Costa
Costa posts strong Q2 performance despite wet August
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Costa sees 4% LFL sales increase

Costa, the Whitbread-owned coffee brand, has posted an increase in like-for-like sales of 4% for the 11 weeks to 13 August 2015. 

Kingsmill
Kingsmill has gained in sales but suffered from lower profitability
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Sales volumes up at Allied Bakeries, but market remains ‘challenging’

Associated British Foods (ABF) has revealed that Allied Bakeries saw increased sales volumes over the financial year, but overall profits across the group are expected to decline. 

Exports
UK bakery exports are up but were impacted by the strength of the pound
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Bakery a highlight as exports fall

Cereals and bakery exports increased by 10% in the first half of the year – but total food and drink sales abroad fell because of the strength of the pound. 

Limit on contactless payments rises

Contactless payments are set to account for more retail transactions now the upper limit has increased from £20 to £30.

Warrens Bakery
Warrens Bakery has seen positive effects from its company-wide rebranding programme
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Rebranding boosts Cornish pasty firm

Warrens Bakery, the Cornwall-based 50-strong chain, has revealed that retail sales and wholesale have jumped following a rebranding programme. 

Sandwiches remain key to children’s lunchboxes

Research has revealed that children’s packed lunches are changing – but sandwiches remain a staple item.

Croissants
Morning goods were one area identified for growth
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Sweet bakery: steps to growth identified

Swedish bakery supplier Lantmännen Unibake UK claims the sweet bakery category can grow by £59m in the next five years. 

Budgens
Christoper and Lewis Freeman of Dunn's Bakery supply the Crouch End store
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Budgens enjoys bakery success in new concept stores

Bakery products have “played an important role” in the success of Budgens’ new concept stores. 

Lotus Biscoff
Lotus Bakeries sees good half year results
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Profits leap for Lotus Bakeries

Lotus Bakeries, the Belgium based company that has just bought a majority stake in Natural Balance Foods, has seen profits jump by more than a third in its first half. 

Paul
Le Restaurant de Paul opening at London's Tower 42
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Paul bakery opens second restaurant venue

The second Le Restaurant de Paul is opening in London’s Tower 42 in the French bakery brand’s largest venue yet. 

Bako North Western finalises sister company purchase

Bako North Western, the Preston-based company, has bought sister company Bako Northern & Scotland in a deal to create a business with a turnover of more than £100m. 

Slow growth in grocery sector

“Sluggish growth” has been recorded in the British grocery market in the 12 weeks to 16 August 2015 with Sainsbury's the only one of the big four in growth.

Real Good Food
Pieter Totte ups shares in Real Good Food
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Real Good Food chairman ups shares

Executive chairman of Real Good Food (RGF) has increased his stake in the company to 3.89%. 

Asda upbeat despite Q2 sales drop

Asda has posted a 4.7% fall in like-for-like sales for its second quarter, in what it described as “disappointing, but a short-term picture”.

Pat the Baker
Pat the Baker has bought part of Irish Pride
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Irish Pride ‘sold’ to Pat the Baker

The sale of the majority of Irish Pride Bakeries’ assets to Pat the Baker has reportedly been agreed for around €7m (£4.9m). 

Ferrero completes Thorntons transaction

The £112m takeover of British chocolatier Thorntons has been completed by Ferrero, as it pledges to grow the brand.

Lotus Bakeries buys majority stake in Nākd

Belgian biscuit and cake company Lotus Bakeries has taken over a majority stake Natural Balance Foods, the company behind the Nākd and TREK brands.

Bakkavor in revenue increase

Fresh food manufacturer Bakkavor has seen revenues rise in its half year results, despite a challenging market.

Brace’s shapes management team

Brace’s, the Newport-based bread bakery, has made a number of changes to its board of directors following the recent appointment of a new chief executive.

Eggs
Egg price is increasing following US bird flu outbreak
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US bird flu increases pressure on egg prices

Fears are growing that egg prices could rise as European supplies are sent to the US after a massive bird flu outbreak. 

BRC reports first drop in food sales for 2015

Food sales fell for the first time this year, as budgets and weather affected shopper habits.

Cake and biscuits market in slow growth, but future positive

The biscuit and cake market has seen a “subdued” growth, threatened by home baking and competition between confectionery, health foods and ice cream products.

Real Good Food
Renshaw is performing well
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Real Good Food business outlook breakdown

Real Good Food posted full-year results including an operating loss of £741,000 for the year to 32 March 2015. 

Real Good Food
Real Good Food company has shed Napier Brown
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Sugar hurts Real Good Food profit, but outlook good

The bakery group Real Good Food made an operating loss of £741,000 last year after it was hit hard following a dispute over sugar. 

Wheat cost helps drive food price inflation

Food prices returned to inflation in July for the first time this year driven in part by the rising cost of wheat, according to latest figures released by the British Retail Consortium. 

Ginsters announces new managing director

Ginsters, the Cornish pasty giant, has announced the appointment of a previous Coca-Cola marketing boss as its new managing director.

Allied Bakeries reviews 23 jobs in streamlining operation

A major restructure at Allied Bakeries will see 23 management and admin roles go under review, including its category director position.

Burton’s in the frame to buy Nakd bars

Burton’s Biscuits, owner of Jammy Dodgers and Maryland Cookies, is reportedly in the running to make a £60m bid for the maker of Nakd bars.

Lagkagehuset
Danish bakery Lagkagehuset is set to open in the UK
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Danish bakery business to make UK debut

Lagkagehuset, the Danish bakery chain, is set to launch in the UK amid international expansion plans. 

Kaak Group
The Kaak Group is expanding in the UK
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Kaak establishes one-stop bakeware shop in UK

Bakery equipment manufacturer The Kaak Group has expanded in the UK following the acquisition from Aktrion Foods of its tin cleaning and coating division by Benier UK. 

Tate & Lyle reports steadier trading

Global ingredients and food solutions supplier Tate & Lyle says trading performance for its first quarter has been “in line with expectations”.

Greggs bacon roll
Greggs' breakfast and low-calorie options are a success
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Greggs sales boom with breakfast demand

High street bakery giant Greggs has reported “a strong first half” as consumer demand for its low-calorie and breakfast options grows. 

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