Finance

Peter Baker:
Finsbury Food chairman
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Finsbury AGM outlines high hopes for Fletchers acquisition

Finsbury Food Group has said it is confident there will be increased growth and sales, thanks to the buy-out of Fletchers’ cake business earlier this year.

Greencore set for further growth in food to go sector
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Food to go drives Greencore growth

The UK’s leading sandwich and celebration cake company, Greencore, has outperformed the food to go market, with like-for-like revenue growth of 15.3% in the past year.

Fortnum & Mason enjoys busiest year in store history

Luxury retailer Fortnum & Mason has seen a 14% increase in overall sales for the year up to July 2014, compared to last year.

Gail's Bakery Barnes
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Gail’s opts for private over public growth

Gail’s Bakery has reportedly ended talks of stock market flotation, and will now focus on growing the business privately.

Crepe firm plans broad international growth

London-based Crepeaffaire is on the verge of major UK and international expansion plans with four new UK sites in the next four months.

Branded sales down for 2 Sisters

2 Sisters Food Group, owner of Fox’s Biscuits, has seen a fall in branded sales, down 3% for the full year.

First decline on record for grocery market
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Discounters continue to dominate, as overall grocery declines

Aldi and Lidl have continued to storm the grocery market, despite an overall decline in the sector since Kantar Worldpanel records began in 1994.

Positive results for Bakkavör
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Bakkavör bakery investment continues amidst revenue hike

Bakkavör has outperformed the food market, boasting a 4% growth in like-for-like revenues for the 39 weeks ended 27 September 2014.

Mike Coupe:
new chief executive at the supermarket
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Underlying profits and LFLs down at Sainsbury’s

Supermarket group Sainsbury’s this morning unveiled a 2.1% fall in like-for-like sales and said underlying profit had dropped by 6.3% to £375m.

Tim Davies:
Carr's chief executive
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Carr’s Milling hails record profits

Carr’s Milling Industries has announced another year of record profits in 2013/14, with EBITDA up 9.1% to £20.4m.

Tate & Lyle
Tate & Lyle results suffer from adverse weather
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Tate & Lyle profits tumble

Ingredients manufacturer Tate & Lyle has announced a 40% fall in first-half adjusted pretax profit at the top end of its range. 

Barry Callebaut
Juergen Steinemann expects challenging times
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Barry Callebaut sales volume up 11.8%

Swiss chocolate maker Barry Callebaut increased sales volume by 11.8% in the year to 31 August 2014, helped by the integration of the cocoa business acquired in June 2013. 

LFLs slump again, Morrisons insists it’s on track

Like-for-like sales suffered a 6.3% slump in the 13 weeks to 2 November 2014 at under pressure supermarket Morrisons.

M&S
M&S: good growth in food
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M&S food shows strong sales growth

Marks and Spencer (M&S) food business has reported like-for-like sales are up 1%. 

AB Mauri:
"strong turnaround" for the ingredients firm
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ABF reports turnaround for ingredients division

Associated British Foods (ABF) has described its bakery ingredients business AB Mauri as making a “strong turnaround” in its year-end results.

United Biscuits
United Biscuits: sold to Yildiz
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United Biscuits sold to Yildiz

The sale of United Biscuits (UB) to international biscuit manufacturer Yildiz Holding has been confirmed. 

Macphie
Creations to be made with Macphie ingredients
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Scottish ingredients firm enjoys rise in turnover

Independent bakery ingredients manufacturer Macphie has reported a 3.5% growth in turnover to £44.4m. 

UK living wage increases
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‘Living wage’ rate raised by 20p

The UK “living wage” has been raised by 20p to £7.85 an hour.

Starbucks
Starbucks: 19th consecutive quarter rise of 5% or more
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Starbucks sees 5% LFL sales growth in Q4 with UK at forefront

Coffee giant Starbucks has reported a 5% rise in global like-for-like sales with a “particularly strong performance in the UK” in Q4. 

NBPO:
the company have a Liverpool plant
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Independent panel gives thumbs-up to NBPO offer

A panel of independent advisors has described the potential £1.1bn takeover offer for New Britain Palm Oil (NBPO) as “fair and reasonable”.

Costa Coffee growth continued in H1
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Costa underlying profit up 20.5%

Costa Coffee, the Whitbread-owned chain, saw its first-half underlying profit increase by 20.5% to £52.4m, it revealed today.

Finsbury Food Group: we could buy again

Finsbury Food Group could acquire further businesses in its bid to grow and has predicted there will be further consolidation in the bakery sector in the next five to six years.

Finsbury and Fletchers: the build-up to the buy-out

Finsbury Food Group's acquisition of Fletchers Bakeries has shocked the industry today, creating a new £300m business. We look back at some of the key moves from the firms, that led up to today's buy-out. Below is an interactive timeline, click on the links to reveal the full stories. 

Finsbury acquires Fletchers for £56m

The private equity-owned Fletchers Group of Bakeries has been sold to Finsbury Food Group for £56m – a deal which will create one of the largest specialist bakery companies in the UK.

NBPO:
New Britain Palm Oil's dockside processing facility in Liverpool
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Update: NBPO 'welcomes' £1.1bn cash takeover

New Britain Palm Oil (NBPO) has welcomed a cash takeover bid of £1.1bn, subject to approval from shareholders, it has confirmed.

IGD chief executive predicts a £31bn growth in Convenience, discount and online retailing
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IGD forecasts continued change to retail landscape

Convenience, discount and online retailing are predicted to grow by more than £31bn in the next five years and claim 43% of the grocery market.

Warren Buffett
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Top investor Buffet admits "mistake" on Tesco

Warren Buffett, renowned US investor and world’s third richest man has admitted that investing in Tesco was a “huge mistake.”

Salted caramel:
Clam's Cakes delivers around the UK
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Clam’s Cakes set to hit £1m turnover

Handmade cake supplier Clam’s Cakes has predicted a turnover of £1m this year, after expanding into larger premises in Ebbw Vale, Wales.

Liverpool plant:
New Britain Palm Oil refinery in Merseyside
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Sale of major stake in NBPO collapses

The potential sale of nearly half of New Britain Palm Oil (NBPO) has fallen through, it has been announced.

Aldi profits boom

Aldi has announced a soar in profits after competitive prices attracted customers to the discounted supermarket.

Aryzta AG:
The company has invested £77.9m in bakery expansion
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Aryzta boosts revenue amid bakery investments

Swiss bakery group Aryzta has lifted European revenue, boosted by a reorganisation of its bakery and food solutions arm.

Handmade:
New shops in the pipeline for Patisserie Valerie
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Patisserie Valerie accelerates expansion plans

Patisserie Valerie has said it is currently opening “a store every two to three weeks”, this comes after its stock market floatation plans prove successful. 

Grocery inflation low
Inflation decrease means food costs are the same as last year
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Supermarket war continues as market reaches low

Competition within supermarkets has driven down grocery inflation to zero. 

Tate & Lyle said the severe winter in the US hit stock levels
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Tate & Lyle make profit warning

Tate & Lyle has warned on profit in its half year trading update, after bad weather in the US hits stock. 

Premier Foods restructure allowing honed focus on cakes

Premier Foods has announced the restructure of its commercial sector, creating three new Strategic Business Units (SBU’s).

UB attracts fresh interest

New bidders are believed to have entered the fray for United Biscuits (UB).

Costa Coffee:
The brand has seen an impressive sales growth in the past year
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Costa Coffee sales boom

Costa has seen like-for-like sales (LFLS) increase by 7.3% in the 11 weeks to 14 August.

Low food inflation hits sales

Food and drink sales have reached a new low in August.

The Jordans Cereal brand produces a range of breakfast items
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Jordans Cereal founders take controlling share in milling firm

The Jordans brothers have acquired a majority ownership in European Oat Millers (EOM) in a bid to develop the milling company.

The Great White loaf:
A white bread with the same amount of fibre as a wholemeal loaf.
  (Photo:  )

Allied Bakeries forecast for profit increase

Associated British Foods plc (ABF) has said sales and profits will be up this year at Allied Bakeries, following the launch of its Kingsmill Great White loaf.

Food inflation at record low

Inflation on food hit its lowest-ever recorded level in August, at 0.3%.

Cargill to buy ADM's chocolate business

Cargill is to buy the international chocolate business of Archer Daniels Midland (ADM) for $440m (£226.4m), which will include its Liverpool chocolate plant. 

Tesco share price hits 11 year low

Tesco’s share price has continued to fall following its latest warning of the supermarket’s worsening trading performance.

Tesco cut trading profit

Tesco have cut its trading profit from £2.8bn to £2.4bn, following what it is calling ‘challenging trading conditions.’

United Biscuits
United Biscuits: set for stock market flotation this autumn
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United Biscuits rumoured for stock market flotation

McVitie’s brand owner United Biscuits is expected to float on the stock market this autumn with a value of £1.5bn.

Pork Farms acquires Kerry Foods’ pastry assets

Pork Farms has acquired the chilled savoury pastry assets of Kerry Foods.

Bakkavör posts revenue climb of 1.3%

Food manufacturer Bakkavör has reported its revenues were up 1.3% to £434.2m in the 13 weeks to 28 June.

Poll: Does GBBO help or hinder your business?

The next episode of The Great British Bake Off airs tonight and, with it, a whole new set of challenges, this week all revolving around biscuit-making.

Chocolatier sold by private equity owners

Premium chocolatier House of Dorchester has been acquired by confectioner Charbonnel et Walker.

SSP to link with celebrity chef for airport bakery concept

SSP Group, worldwide operator of outlets in travel locations, has revealed plans for a new bakery concept with UK chef James Martin, as part of a £135m contract.

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