Breaking News on the Food and Drink Manufacturing Sector

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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...

Tesco told: ‘Raise £5bn to get back on track’

Tesco will have to raise more than £5bn to shed its “junk debt” and get its credit rating back on track, according to the ratings agency Moody’s.

Food firms ‘to face higher costs after EU exit’

Food and drink manufacturers would face higher long-term costs if Britain quits the EU, but the move would have less impact on business than some “scare-mongering” reports suggest.

Iceland’s sales hit by triple whammy

Frozen food retailer Iceland’s sales were hit by a triple whammy of  intense competition from Aldi and Lidl, food price deflation and “changing consumer habits” over the past year, it...

Sainsbury’s sales dive for the sixth quarter

Sainsbury boss Mike Coupe has blamed food price deflation for a drop in sales for the sixth quarter in a row, he said in a trading update today (June 10).

Raynors to boost its sandwich output

A £2M investment will quadruple sandwich manufacturer Raynors Foods's output and also create at least 65 new jobs, md Matt Raynor has said.

Food firm pitches for £1M Richard Branson grant

Yorkshire surplus food distributor Approved Foods is bidding for a slice of a £1M grant from British billionaire Sir Richard Branson.

Britvic reports solid interims and predicts on target full-year

City analysts have praised soft drinks company Britvic for its 7% growth in earnings before interest, tax and amortisation (EBITA) to £65M despite the tough market conditions and technical problems...

Morrisons’ Potts makes more price cuts

Morrisons boss David Potts has today (June 8) slashed up to a third off the prices of 200 everyday items in his latest bid to turn the beleaguered retailer’s fortunes around.

500 new jobs at discounter B&M

Northern discounter B&M will create 500 jobs at two new warehouses, it confirmed after reporting 2014 sales of £1.6bn last week.

Findus confirms exclusive sale talks with Nomad

Frozen food firm Findus has confirmed it is in advanced, exclusive sales talks with investment group Nomad Holdings, following the investment firm’s disclosure yesterday (June 3).

Nomad in talks to snap up Findus Europe: latest

Nomad Holdings is in talks to buy the Findus brand, following its acquisition of frozen food firm Iglo Foods for £1.87bn (€2.6bn) in April.

News in brief

Pork Farms deal wins final clearance

Competition regulators have approved Pork Farms’s acquisition of Kerry Foods’s chilled pastry business.

Greencore’s expansion creates 150 jobs

Greencore has made a multi-million pound investment at its Worksop sandwich manufacturing facility, creating 150 jobs.

Aldi and Lidl on a path to destruction?

Discounters Aldi and Lidl could be on a path to destruction, potentially becoming “the person they tried to beat”, if their growth is mismanaged, leading city analysts have warned.

121 jobs saved as Cumbrian chocolatier bought

Creative Confectionery has bought fellow chocolatier Wilsons out of administration, securing 121 jobs at the Cumbria-based firm.

Top food and drink brands ‘in trouble’: Rabobank

Top food and drink brands are falling out of favour with US consumers, warns a new report from Rabobank, which offers five top tips to revitalise sales.