Finsbury Foods said that falling sales in its cake business has resulted in a 2% drop in revenue for the 17 weeks to the end of October. Its bread and free-from businesses achieved double-digit growth, with its acquisition of Goswell Bakeries contributing to an 11% growth in sales. Like-for-like sales in the division increased 8%.
Heinz sells desserts
US-based food company Heinz has completed the sale of its private-label frozen desserts business in the UK, to newly formed firm PoleStar Foods. The sale comprises two plants in Okehampton and Leamington Spa employing 580 staff. The transaction will result in a $33m (£19.93m) pre-tax loss during the third quarter.
Nero seeks growth
Caffè Nero plans to more than double its presence overseas, according to Emirates Business. Speaking to the UAE business publication in Dubai recently, founder Gerry Ford said the coffee chain was eyeing up growth opportunities in China, the US, central and eastern Europe, Scandinavia and the GCC, and hopes to increase its 400 stores to a projected 1,000.
Raisins raise imports
California Raisins has imported a record-breaking tonnage into the UK. The first quarter of the 2009/10 crop year has seen 11,416mt imported 51% more than the first quarter of the 2008/09 crop year and higher than any previous years.
Britvic has announced a group revenue increase of 5.6% from £926.5m to £978.8m in its full-year results to 27 September 2009. The firm achieved volume and value share gains across its six core brands: Pepsi, 7Up, Tango, Robinsons, J2O and Fruit Shoot.