Breaking News on the Food and Drink Manufacturing Sector

Headlines > Business News

News in brief

Poundland online could ‘steal a grocery march’

Poundland’s first online delivery service could “steal a march” on UK grocery retailers, an analyst has claimed after the deep discounter revealed its e-commerce plans.

‘Tough’ dairy industry hits Arla’s revenue

Arla Foods’s revenue has dropped 3.8% to £3.78bn (€5.12bn) during the first half of this year as a result of the globally declining milk prices creating a “tough” situation for...

Real Good Food plans to cancel £71.3M debt

Real Good Food Company is planning to restructure its share capital in a bid to raise £71.3M and cancel its debt.

73,000 new food and drink jobs in England and Wales

More than 73,000 jobs will be created by food and drink businesses in England and Wales by 2020, as a result of innovative new products and increased export opportunities.

Five benefits from Poundland takeover approval

Poundland’s £55M takeover bid for 99p Stores has won provisional approval from the the competition watchdog, clearing the way to deliver five key benefits, said one leading analyst.

Global turmoil hits food company share prices

Turmoil in global financial markets has hit food companies’ share prices and could directly impact exporters, according to a leading analyst.

Food waste and oil converter buys biofuel producer

The country’s biggest converter of food waste into renewable energy Olleco has acquired a biofuel producer Convert2Green for an undisclosed sum. 

Diageo fails to reach its own pollution targets

Diageo has significantly missed seven of its 10 pollution reduction targets, the £11bn drinks giant has admitted in its annual report.

Morrisons could face huge bill if c-stores sold

Morrisons could face a multi-million pound bill if the retailer tries to offload its M local convenience stores (c-stores), according to recent media reports.

Cranswick’s ‘near perfect’ record to tempt investors

Pork and pastry firm Cranswick’s “near perfect” 25-year growth record for profit and dividends plus potentially lucrative new opportunities should tempt investors, predicts City analyst Investec.

Asda sales slump despite ‘not doing much wrong’

Asda has not “done much wrong”, despite posting its worst sales performance in its 50-year history, according to leading City analyst Shore Capital.

Morrisons said to be close to convenience store sale

Morrisons is close to agreeing the sale of its M-Local convenience stores to investment group Greybull Capital, according to press reports, as Shore Capital warned the supermarkets’ convenience business had “reached...

Dragons’ Den investor pumps £50k into sauce firm

Korean food firm Yogiyo is to rebrand its range and buy new ingredients after winning £50,000 worth of investment from investor Peter Jones on the hit TV show Dragons’ Den last night....

Halal abattoir closes amid animal abuse allegations

The halal abattoir at the centre of animal cruelty allegations has gone into administration.

Findus UK frozen out of Nomad Foods deal

Nomad Foods is to buy the European businesses of Findus Group for £500M, in a deal that excludes Findus’s UK operations.

Welsh food centres team up to support £7bn plan

Wales’s three food centres are to collaborate to support the Welsh government’s Food and Drink Action Plan to grow the sector by 30% to £7bn by the year 2020.

Cost-cutting could save Devro’s skin

Devro’s restructuring exercise looks to be working in returning the Scottish collagen product maker to profitability, as the group posted profits before tax of £9.6M for the first half (H1)...

Kellogg suffers fall in sales and profit

Kellogg, the US cereals company, has suffered a fall in net sales and reported operating profit for the second quarter to July 4 2015.

Tea sales fall as Brits lose taste for cuppa

Britons’ love affair with drinking tea could be a thing of the past as a new study finds that tea sales have fallen by 6% since 2010.

Unilever food disposal rumours rise

Unilever’s relatively flat food business sales for the second quarter (Q2) of the year reported last month and increasing focus on high-end personal care products, will inevitably raise further speculation...

Food and drink ‘havoc’ after minimum wage rise

Implementing the National Living Wage could wreak havoc across the UK’s food and drink industry, the credit rating agency Moody’s warned before several major UK manufacturers raised their concerns....

Delay Nestlé pension changes, urge unions

Nestlé should put its controversial pension changes on hold in order to safeguard up to 7,600 workers losing thousands of pounds in retirement income, both Unite and the GMB unions...

Young’s reshapes board to fight ‘challenging market’

Young’s Seafood has made changes to its leadership and governance structures in a bid to respond to the long and short-term challenges it faces.

Morrisons boss ‘takes charge of recovery’

Morrisons boss David Potts has firmly taken charge of the business, introducing key changes to put the retailer firmly back on the road to recovery, according to City analyst Shore...

Food-on-the-go helps Greggs to strong first half

Strong food-on-the-go sales helped high street baker Greggs to a 6.4% rise in total sales to £398M in first half results for the 26 weeks to July 4.