Finance

M&S announces proposed change to UK HQ

Supermarket giant Marks & Spencer has announced that it will be discussing proposals with its employees to make significant changes to its UK head office structure.

FDF reveals rise in UK exports to non-EU countries

The Food and Drink Federation (FDF) has announced British food and drink exports are up by 6.2% in the first half of 2016 compared to the same period last year, following the fall of the pound since Brexit.

Slight grocery price drop in August

Research from comparison website MySupermarket shows that a basket of popular supermarket items dropped slightly in August, two months after prices rose in June and July.

North American chain Tim Horton

Tim Horton’s to extend to UK market

Canadian and US restaurant chain Tim Horton’s will expand into the UK market after announcing a joint venture with a British investor.

West Cornwall Pasty Co continues profitable turnaround

West Cornwall Pasty Company has released its latest financial statement, with sales figures of £13m and underlying like-for-like sales increasing by 7.6% for the year ending 25 March 2016.

Hershey rejects Mondelez takeover bid

Mondelez International, owner of Cadbury, has had its latest £19bn takeover offer for US snack and confectionary manufacturer Hershey rejected and will now end its attempts to acquire the company.

Insomnia announces Blakemore & Son partnership to increase store numbers

Irish coffee shop chain Insomnia has announced a partnership with Spar petrol forecourt operator Blakemore & Son as it aims to increase its UK store count to 12 by the end of this year.

Tesco sells Euphorium Bakery

Tesco has agreed to sell its Euphorium Bakery business for an undisclosed sum.

Bread Factory and Gail’s bakery sales climb

The Bread Factory and Gail’s artisan bakery annual revenues are up by 41.5%, suggesting that UK consumers’ hunger for artisan bread shows no signs of dying out.

‘Bake Off’ effect hits Manchester

Greater Manchester has seen a 27% rise in specialist bakeries since The Great British Bake Off series first aired in 2010, according to the Office for National Statistics.

Asda suffers largest quarterly sales decline in history

Supermarket giant Asda has been hit with the biggest sales decline in its history, as like-for-like sales decreased by 7.5%.

Sugar tax popular with consumers, finds study

Nearly half (48%) of consumers agree with the sugar tax and a large proportion of them want more products, such as cakes and biscuits, to be added to it, according to market research firm Future Thinking.

Burton’s reveals growth plan following licence sale to Mondelēz

Burton’s Biscuit Company has unveiled its plans for expansion following the sale of its Cadbury biscuit licence to Mondelēz International.

Genesis Crafty bullish on exceeding £16m in sales

Northern Irish family bakery Genesis Crafty has said it is confident its 2016 turnover will exceed that of last year following a rise in sales to almost £16m in the year ending October 2015.

Mondelēz to complete Cadbury biscuit takeover

Mondelēz International has agreed to buy the global licence for Cadbury-branded biscuits from Burton’s Biscuit Company.

Phone app designed to ‘fight war on food waste’

Entrepreneurs Jamie Crummie and Chris Wilson have designed an app to offload bakery products that are destined for the bin at a discounted price.

Bakkavör enjoys Q2 revenue increase

International food manufacturer Bakkavör has seen revenues rise 3.2% to £438.7 million in its second-quarter (Q2) results for the 13 weeks ended 25 June 2016, compared with the same 2015 period.

UK wheat traders may capitalise on poor French harvest

French analysts have revised down their expectations for the country’s milling wheat harvest, but UK traders are eyeing export opportunities to North Africa.

Consumer spending slowed in July

The latest Barclaycard consumer confidence research has shown caution among consumers, as spending rose 2.6% in July, with growth levels down on those seen in May and June. 

Walls under new ownership after American takeover

Shetland-based Walls Bakery has been taken over by American entrepreneur Bruce Gilardi and has changed its name to Waas Bakery.

From left: Steve Angle, Alex Birch of Langleys Solicitors, John Haken and Hilary Angle
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£15m MBO for biscuit and confectionery marketer

A £15m Yorkshire-based biscuit and confectionery specialist Right Angle Marketing (York) has been sold in a management buy-out (MBO) for an undisclosed seven-figure sum.

Frozen pizza and white bread buck rising grocery price trend

Frozen pizza and white bread have fallen in price despite the cost of a basket of popular supermarket items jumping by 1% in July, latest figures from mysupermarket.co.uk show.

Greggs reports 6% sales boost for H1

Leading bakery food-on-the-go retailer Greggs has seen total sales rise 6% to £422m for the 26 weeks ended 2 July 2016.

Haydens Bakery turns in positive sales despite narrower range

Renshaw Food Group has revealed a positive performance for its premium bakery division in its financial results to 31 March 2016, announced today.

Bakery items reduced by 18% in latest Morrisons move

Morrisons is slashing prices on its bakery, cakes and desserts by an average of 18% as part of the retailer’s biggest price crunches on 1,045 products.

Sugar arm disposal transforms Real Good Food’s performance

Real Good Food has reported a statutory profit before tax of £12.9m for the year ending 31 March 2016.

Taura celebrates 20th anniversary with on-track sales targets

Global ingredients company, Taura Natural Ingredients will celebrate its 20th anniversary with the news that its European sales are on target to increase by 20% this year.

Bakery creates the world’s most expensive cronut

London-based artisan bakery Dum Dum Donutterie has produced the world’s most expensive ‘cronut’ – costing £1,500.

Grocery trade escapes immediate Brexit fallout

Brexit has had little impact on grocery share figures, according to the latest data from research firm Kantar Worldpanel.

Greencore reaps benefits of food to go

Food to go has continued to drive sales for manufacturer Greencore Group’s convenience division.

Tunnock’s plans multi-million pound extension

Biscuit company Tunnock’s has submitted plans for a multi-million-pound extension to its Lanarkshire factory in Uddingston.

Greencore lays out £15m on food-to-go specialist

Greencore Group has acquired Warwickshire-based The Sandwich Factory Holdings Limited (The Sandwich Factory) from sausage-maker Cranswick.

Thoughtful Bread crowdfunds for expansion

Bath-based bakery Thoughtful Bread has asked the local business community to help it expand.

Mondelēz in discussions to purchase Cadbury licence

The maker of Oreos, Mondelēz is in discussions to buy the licence to make Cadbury biscuits from UK-based biscuit maker Burton’s Biscuit Company, Sky News has been told.

Tate & Lyle profits from weak sterling

Bulk ingredients supplier Tate & Lyle PLC said its Q1 profits from 1 April 2016 to 30 June 2016 were up on the same period last year.

Cadbury cake drives Premier’s sweet treats

Premier Foods, the manufacturer of Mr Kipling and Cadbury cakes, has delivered sales growth of 1.9% for the 13 weeks ended 2 July 2016.

Carr’s reports 1.6% rise in food

Carr’s Group, the agriculture, food and engineering business, has issued a trading update for the year ending 3 September 2016, with performance in line with the board’s expectations.

Asda warned against irrational price war

Bosses from retailer Sainsbury’s have suggested that starting a price war would be not be a logical step forwards for rival retailer Asda.

Northern Irish bakery on course to increase sales overseas

Portadown-based wholesale business Kitchen Bakes is on target to increase cross-border sales by 50% as it celebrates 30 years in business.

Eustice retains food and farming role

George Eustice has retained his position as food and farming minister in the latest round of ministerial appointments by prime minister Theresa May. 

Oven giant aims to deliver 35% energy savings

Scandinavian oven company Sveba-Dahlen has claimed that its recently launched eco+ concept will save 35% in oven energy.

Local bakeries to feature at Leicester’s Business Festival

A variety of Leicestershire-based baking companies are set to feature at Leicester’s Business Festival, taking place from 24 October – 4 November.

SSP reports third-quarter rise

SSP Group, the travel locations food and drink operator, which operates brands such as Upper Crust and Ritazza, has seen a rise of 4.8% in total group revenues for the third quarter ended 30 June 2016 on a constant currency basis.

Ministry of Cake owner nominated for CEO award

Chris Ormrod, managing director of Taunton-based Ministry of Cake, has been announced as winner of the CEO of the Year award for the south west in the Management Team Awards 2016, organised by the British Private Equity and Venture Capital Association (BVCA).

Artisan bakery to take centre stage at UK’s small business campaign

An award-winning Fulham-based micro bakery, Ma Baker, is to take centre stage at the launch of the UK’s 2016 Small Business Saturday campaign on 3 December.

Finsbury Food Group reports near 25% sales jump

Leading UK speciality bakery manufacturer Finsbury Food Group has reported a rise in sales revenue of 24.8% to £319.7m for the full financial year ended 2 July.

Job losses at Allied

Allied Bakeries, the company behind Kingsmill, Allinson and Burgen, plans to shut a distribution centre in Flintshire, which will put 53 jobs at risk.

Biscuits Bouvard acquires Pidy

Pidy, the Belgian pastry products business, has been acquired by French operator Biscuits Bouvard Group. 

FDF appeals to May over Brexit

The Food and Drink Federation (FDF) has outlined the industry’s key priorities in the Brexit negotiations in an open letter to incoming prime minister Theresa May.

Action on Sugar slams government obesity report

A leaked copy of David Cameron’s Childhood Obesity Strategy has prompted campaign group Action on Sugar (AoS) to call for its revision.

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