Breaking News on the Food and Drink Manufacturing Sector

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Losses increase for 2 Sisters Food Group

17-Apr-2014 - 2 Sisters Food Group suffered a loss of £16M in its last set of annual results, covering the 52 weeks to July 27, 2013.

Tesco results: six things you should know

17-Apr-2014 - Tesco’s latest results – featuring its 6% slump in operating profit – deliver six key pointers about the future direction of the business, including the prospect of sharper price competition, according to financial analyst Morgan Stanley.

Premier Foods has first growth opportunity ‘for many years’

17-Apr-2014 - Premier Foods is now set for growth after completing “a transformational restructuring” of its balance sheet, said City analyst Shore Capital in a note titled ‘At last, it’s time to get on with the day job’.

200 jobs saved at Cornish pasty firm

16-Apr-2014 - A last minute cash injection has saved 200 jobs and 35 shops at West Cornwall Pasty Company after it hit hard times and called in the administrators.

Tesco profit falls 6% after ‘challenges in UK and Europe’

16-Apr-2014 - Tesco has posted operating profit down by 6% to £3.3bn and like-for-like sales down by 1.4% in full year results to February 22, due to “challenges in the UK and Europe”.

Barts Ingredients acquires OTP Foods

15-Apr-2014 - Herb and spice manufacturer The Barts Ingredients Company has acquired sauce and paste business OTP Foods in a multimillion pound deal funded by bank Santander Corporate & Commercial.

Overspend led Fabulous Bakin’ Boys to administration

14-Apr-2014 - Cupcakes to flapjacks firm Fabulous Bakin’ Boys (FBB) fell into administration after overspending on equipment and taking its eye off brand investment, according to new md Richard Cooper.

100 jobs saved as bakery firm escapes administrators

14-Apr-2014 - 100 jobs have been saved at Fabulous Bakin’ Boys as Dutch bakery business Daelmans Group rescued the struggling firm from administration.

Rising convenience store grocery sales buck trend

14-Apr-2014 - Shoppers’ growing preference for convenience stores was revealed in the latest grocery sales data from market insights company Nielsen.

Carr’s Milling targets NPD as investment pays off

14-Apr-2014 - Carr’s Milling will target home baking as a core area for flour development as its investment in plant and equipment brings burgeoning benefits for the sector, according to ceo Tim Davies.

Foodex delivers goods for food and drink firms

11-Apr-2014 - Food and drink manufacturers have hailed the success William Reed Business Media’s Food & Drink Expo and Foodex trade shows brought them in terms of ideas and listings.

Place UK on target for £30M in sales

11-Apr-2014 - Fruit and vegetable processor Place UK has boosted sales by 50% in the past three years and is on track to meet its £30M target in the next two.

Invest in small food firms or risk losing income

11-Apr-2014 - Big food and drink manufacturers should invest in small firms to protect their income streams and benefit from injecting an innovative and entrepreneurial spirit into their businesses.

Supermarkets were ‘totally and utterly’ complacent

11-Apr-2014 - Britain’s big four supermarkets have been “totally and utterly complacent”, in failing to keep pace with key developments in retailing and are now paying the price, warns a leading City analyst.

Retail turmoil due to ‘complacency’ not discounters

09-Apr-2014 - Turmoil in the British retail market is due more to the complacency of the big four major supermarkets than the popularity of the hard discount stores Aldi and Lidl, according to a leading City analyst.

Solway Foods Corby to close, 2 Sisters confirms

09-Apr-2014 - 2 Sisters Food Group has confirmed the closure of its Solway Foods factory in Corby, Northamptonshire, which employs more than 900 people, will go ahead.

Carr’s Milling acquires Chirton Engineering for £2.7M

09-Apr-2014 - Food, agriculture and engineering firm Carr’s Milling has acquired precision engineering subcontractor Chirton Engineering for an initial payment of £2.7M.

Waitrose set for UK growth via convenience and online

08-Apr-2014 - Posh retailer Waitrose is preparing for UK expansion, fuelled by convenience stores in south eastern England and new sales in northern England, Scotland and Northern Ireland.

Horsegate caused by ‘more for less’ culture: Warburtons

07-Apr-2014 - The horsemeat scandal was caused by “a more for less” culture in the food supply chain, which highlights the benefits of manufacturing branded products compared with own-label, said Warburton’s boss Jonathan Warburton.

News in brief

Asda to create 12,000 UK jobs over five years

07-Apr-2014 - Asda’s parent company Walmart has revealed plans to create up to 12,000 new jobs in the UK over the next five years.

Co-operative acquires 54 pub sites to boost convenience

07-Apr-2014 - The Co-operative Food business has leased 54 pub sites from the Marston’s public house portfolio, owned by NewRiver Retail, as part of its plan to open 150 food stores a year across the UK.

Tesco board restructure may be required – analyst

07-Apr-2014 - Tesco may need to restructure its board following news that its chief finance officer (cfo) Laurie McIlwee is to leave the business, according to leading food industry analyst Clive Black.

Weetabix could cut pay and working hours to save jobs

07-Apr-2014 - Weetabix has confirmed it has started a consultation with its UK staff to cut pay and working hours in response to increasing pressure from supermarket own-label products and the discounters.

Foodex

Eurozone threat, as food and drink exports rise

04-Apr-2014 - The Eurozone project to link the economies of 17 EU Member States will remain “a source of weakness and instability”, warns former cabinet minister Michael Portillo, as new export figures confirm European sales account for 75% of total food and drink exports.

Cider restructure threatens jobs as Heineken invests £58M

04-Apr-2014 - Altogether 97 jobs could be affected at Heineken UK's Universal Beverages Ledbury (UBL) plant as it shifts cider production to Hereford and invests £58M there, the company has confirmed.

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