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Associated British Foods’s sugar results ‘worse than expected’

The performance of Associated British Foods’s (ABF’s) sugar division was worse than expected in preliminary full-year results to September 13, according to City analyst Shore Capital.

News in brief

Produce World Group acquires Fenmarc’s roots

Peterborough-based vegetable grower Produce World Group has acquired the root vegetables division of Fenmarc Produce for an undisclosed amount.

Final bids for United Biscuits laid down

The bidding war for United Biscuits (UB) has come down to three players: Kellogg, Burton’s Biscuit Company and Turkish food producer Ulker Biskuvi Sanayi, which have all now submitted final...

Morrisons’ trading a worry in ‘un-investable sector’

Morrisons’ trading remains a worry, as the retailer enters a critical quarter in a currently “un-investable” British retail sector, warns City analyst Shore Capital, ahead of the firm’s third-quarter results...

Diageo swaps Bushmills for Don Julio and £255M

Diageo has agreed to sell its Bushmills Irish whiskey brand to Jose Cuervo Overseas in return for full ownership and control of Casa Cuervo’s tequila brand Don Julio and $408M...

Diageo puts brakes on Scotch whisky expansion

Weakening global demand for Scotch whisky could put the brakes on Diageo’s plans to upgrade its northern distilleries as part of the business’s £1bn expansion plan announced in 2007.

Three in 10 to shop for scary treats in discounters

Supermarkets face a Halloween shock as three in 10 shoppers (29%) said they aimed to buy seasonally-themed products from high street discount retailers, according to the latest IGD research.

News in brief

Manchester bakery closes doors, with loss of 18 jobs

Manchester firm Euro Bakery Ltd has closed after just eight years in business, with the loss of 18 jobs, having been hit by cash flow problems.

Weetabix contract dragged Nutrafeed into administration

Food recycler Nutrafeed Ltd was dragged into administration after a contract with Weetabix to handle waste cereal led it into severe financial difficulties, according to an administrators’ report from Duff...

M&S tops authentic brand league

Marks & Spencer (M&S) tops the rankings of the UK’s most authentic brands, according to a report from global communications agency Cohn & Wolfe.

Chaucer Foods buys 65% stake in US snacks firm

Chaucer Foods has agreed to buy 65% of US-based Crunchies Food Company, which supplies healthy snacks, including freeze-dried fruits and vegetables, to expand its global business.

Smart technology shapes shopping patterns

Smart technology is helping to shape shoppers’ changing food buying patterns, according to two new reports.

Bon Bon Buddies aims at £60M sales in three years

Bon Bon Buddies aims to boost sales by 50%, taking them from £40M to £60M, in the next three years and is putting plans in place to grow exports.

Young’s Seafood builds on strong chilled growth

Young’s Seafood boosted sales of its brand by 21% in the chilled food category in the past year and has announced plans to expand its chilled range, with new innovation,...

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Premier Foods boss develops c-store, online sales

C-stores and online retailers offer Premier Foods considerable growth potential and the maker of Mr Kipling cakes is working on bespoke products for those channels, according to ceo Gavin Darby.

Tesco results provoke sharp reaction from analysts

Tesco’s bleak third-quarter results – posting a 92% fall in pre-tax profits to £112M and news of the chairman’s decision to quit – have provoked a predictably acerbic reaction from...

Tesco in crisis

Tesco chairman to quit as pre-tax profit falls 90%

Tesco chairman Sir Richard Broadbent is to quit the business, as the troubled retailer admitted overstating first half profits by £263M and posted pre-tax profits more than 90% down.

R&R Ice Cream tops mid-market private food firms

R&R Ice Cream is the top mid-market private food processor in the UK by sales, according to the 10th annual Sunday Times Grant Thornton Top Track 250 list.

Big four should hit discounters with c-stores

The big four retailers should launch more convenience stores on the doorstep of their rival discounters to fight the competition, according to a leading professor from Aston Business School.

Cranswick’s Benson Park deal praised by analyst

Cranswick’s purchase of cooked poultry firm Benson Park has been praised by a leading food industry analyst as a ‘sensible’ move fulfilling aims to break into new areas of protein....

Premier Foods’s branded sales dip in third quarter

Premier Foods saw branded value sales fall in its third financial quarter (Q3) as the maker of Mr Kipling cakes and Ambrosia desserts was stung by supermarkets losing share to...

Aldi launches new organic range in upmarket bid

Discount retailer Aldi has launched what it claims is an affordable range of organic products that will help customers save 25% on their normal British organic basket, as the store continued...

Three supermarkets faced financial action in Q3

Three national supermarkets faced adverse financial actions in the past quarter as food retailers showed the sharpest increase in ‘significant’ financial distress of all sectors monitored by Begbies Traynor.

Asda wins out as food market enters deflation

Asda headed the supermarket pack as the food market officially entered a period of deflation, although consumers were the real winners, according to the latest Kantar Worldpanel figures.

Winterbotham Darby boosts capacity with olive deal

Winterbotham Darby has acquired chilled olive and antipasti business Alatoni in a move it claims with boost its manufacturing capacity and increase its flexibility in a popular category.

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