Breaking News on the Food and Drink Manufacturing Sector

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Food industry to gain 10,000 new jobs

More than 10,000 new food industry jobs and millions of pounds of new investment will be created by the government-backed Food Enterprise Zones (FEZs), claims environment secretary Elizabeth Truss.

Welsh creamery boosts cheese output with £1M loan

South Caernarfon Creameries, the largest and oldest co-operative in Wales, is to boost cheese production, after receiving a £1M loan.

Nestlé denies ‘pension betrayal’ in unions row

Nestlé has denied union claims of “pension betrayal”, after revealing plans to close its defined benefit pension scheme and replace it with a defined contribution scheme.

Morrisons boasts largest sales growth of big four

Morrisons boss David Potts has boosted the ailing retailer’s sales and market share for the first time since December 2011, after heading the business for just four months.   

UK is biggest online grocery market after China

The UK’s online grocery market – valued at £9.57bn a year – is the globe’s second largest after China and is poised for further rapid growth, predicts the grocery think...

Ocado’s ‘profitability problem' remains: city analyst

Ocado faces a key profitability problem, despite speculation that the online supermarket and distribution business is poised to agree an international deal, according to leading City analysts Shore Capital.

Tesco’s shareholders are ‘on the warpath’

Tesco’s shareholders are “on the war path” and ceo David Lewis’s bonus could be an early scalp, claims a business recovery specialist.

Tesco’s haemorrhaging sales slow

Tesco boss Dave Lewis has slowed the retailer’s haemorrhaging sales, as his plans to regain customers from the discounters Aldi and Lidl achieved a dip of just 1.3%, its first...

Big four’s market share ‘gone for good’: analyst

Tesco, Asda, Sainsbury and Morrisons will never recover the market share they have lost to the discounters Aldi and Lidl, because they remain “too big and too slow” to react...

Trade deal could be torpedoed by German GM fears

A transatlantic trade deal – worth billions of pounds to European food and drink manufacturers – could be derailed by Germany’s fears of genetically modified (GM) products, according to a...

2 Sisters reveals major ‘next level’ investments

2 Sisters Food Group’s strong like-for-like sales growth for the third quarter (Q3) was boosted by a positive performance from the firm’s chilled and protein divisions, reveal its results for...

Job losses at Young’s may reach 330: union

Up to 330 jobs could be lost at Young’s Seafood in Grimsby, after Sainsbury cancelled a vital contract for salmon, warns Unite the union.

Young’s lost Sainsbury contract risks hundreds of jobs

Hundreds of jobs at Young’s Seafood could be at risk, after the manufacturer lost a key contract to supply Sainsbury with salmon.

Breaking news

Moy Park sold for £944M to JBS

Moy Park will be sold to the world’s largest meat packer JBS in a deal worth $1.5bn (£944.7M), it has emerged.

Discounters open more stores than big four

The discounters, such as Aldi and Lidl, are opening twice as many stores as the big four, new research from the Local Data Company (LDC) has shown.

Ferrero and Thorntons strike £112M purchase deal

Ferrero has struck a £112M deal to buy 30% of the UK chocolatier Thorntons, after several shareholders sold their stakes in the business.

New Scottish dairy brand launched to wow shoppers

A new Scottish dairy brand has been launched to unlock to unlock premium market opportunities for Scottish dairy sector.

Premier Foods is ‘on improving revenue trend’

Premier Foods is on “an improving revenue trend” but it’s still early days in the turnaround plan, according to leading City analyst Investec.

Smaller executive board for Morrisons – analysts

Morrisons’ boss David Potts is likely to recruit a smaller executive team after another board member ditched the retailer this week, city analysts have predicted.

Poundland sales top £1bn for first time

Discount retailer Poundland has posted sales up by 11.8% to top £1bn for the first time, in full-year results to March 29 but warned trading in the first half of...

Supermarket promotions ‘lose suppliers money’

It’s official: supermarket product promotions lose money for the manufacturers that make them, according to a three-year study from Nielsen covering  212M promotions across 5M fast-moving consumer goods (FMCG)....

Food and drink exports threatened by Grexit

Greece’s exit from the Eurozone – known as Grexit – and possibly the EU threatens British food and drink exports to Europe, currency experts have warned.

News in brief

Premier Foods’s profit forecast upgraded

Premier Foods’s profit forecast has been upgraded by City analyst Investec.

Finsbury completes acquisition of Just Desserts

Finsbury Food Group has completed its acquisition of foodservice supplier Johnstone’s Just Desserts, saving 150 jobs at the firm, after buying the business out of administration.

Did supermarkets sway competition watchdog?

Big supermarkets may have influenced the Competition and Markets Authority’s (CMA’s) decision to deepen its probe into the proposed merger of Dairy Crest Group’s Dairies Division with Müller-Wiseman, according to...