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Inside food & drink manufacturing

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News in brief

Food and Drink Federation moves to new identity and HQ

The Food and Drink Federation (FDF) has adopted a new identity and moved to new headquarters in central London.

Former 2 Sisters boss founds frozen food firm

Former 2 Sisters Food Group finance boss Craig Tomkinson has launched online food company Thyme to target frozen food sales.

Greencore to acquire $1bn US firm Peacock Foods

Greencore has revealed plans to acquire the US convenience food manufacturer Peacock Foods, which is valued at £594.3M ($747.5M) and has revenues of $1bn, alongside full-year results today (November 14).

Top global food and drink trends for 2017

Traditional food ingredients and vegetarian products lead market analyst Mintel’s list of the top six global food and drink trends of 2017.

More than 100 jobs saved at bakery chain

Up to 100 jobs have been saved at Cooplands Bakery, after the firm was bought out of administration last week.

Dairy Crest profits rise 19% after cheese rebrand

Dairy Crest reported a 19% rise in profit before tax to £19.1M in its half-year trading update, boosted by rebranding of its Cathedral City cheese brand and volume growth in...

Bakkavor results boosted by ‘constant innovation’

Ready meal specialist Bakkavor has reported revenue growth across the group due to “constant innovation” in third-quarter results, says ceo Agust Gudmundsson.

Biscuit business makes £1.25M from crowdfunding

Online biscuit firm Biscuiteers raised £1.25M from more than 780 investors, as part of its crowdfunding campaign launched last month.

Profits rise for ABF after Brexit vote

Associated British Foods (ABF) has posted growth in group revenue to £13.4bn in the 53 weeks to September 17 2016, a 5% rise from last year.

M&S to open 200 food stores after clothing sales fall

Marks & Spencer (M&S) will open 200 new Simply Food stores by the end of 2019 and downsize its Clothing & Home division, as part of a strategic redirection, it...

Brexit price rises could turn consumers to own-label

Food and drink manufacturers’ Brexit-related price rises could turn consumers to own-label brands, says Shore Capital analyst Clive Black.

Walkers and Birds Eye latest food manufacturers to hike prices

Walkers crisps and fish fingers maker Birds Eye were the latest to blame the weak pound on price increases, after they raised their prices by up to 10 % and 12% respectively.

Overseas investment boosted in UK due to weak pound

Foreign investment in UK food and drink firms accounted for more than a third of all acquisitions in the third-quarter of this year, as overseas companies look to cash in...

Over 70 jobs saved at sweet factory

More than 70 jobs have been saved at a Devonshire sweet factory, after the firm was bought out of administration.

2 Sisters owner reports £25M profits jump

2 Sisters’ parent company Boparan Holdings reported a 40% increase in like-for-like operating profit to £25.3M in its fourth-quarter trading update, despite the uncertain market following the Brexit vote.

Food giant Kraft Heinz reports 1.5% sales dip

Food giant Kraft Heinz reported a 1.5% dip in sales to £5bn ($6.27bn) in its third-quarter trading update, driven largely by poor sales in the UK and the Netherlands.

Brexit Latest

PM’s Brexit plans thwarted after key court ruling

Prime Minister Theresa May’s Brexit plans have been thrown into confusion after she lost a High Court battle to trigger Article 50 without a vote in Parliament – causing a...

Brexit food tariff cut is ‘ludicrous utopianism’: Clegg

Brexit enthusiasts who believe leaving the EU will result in lower food and drink tariffs are suffering from “ludicrous utopianism”, the former deputy prime minister has claimed.

Morrisons announces sales growth

Retailer Morrisons’ like-for-like sales have grown in the 13 weeks to October 30 2016, while total sales for the company had fallen. 

Kerry Group reports growth despite Brexit fears

Irish food and ingredients firm Kerry Group reported 2.2% growth in its consumer foods division in its financial update for the nine months to September 30, despite Brexit uncertainty and fluctuating currencies.

News in brief

Brexit could block food firm consolidation

Brexit could derail mergers and acquisitions (M&A) activity in the months ahead, despite the UK food industry being ripe for consolidation, a business advisory firm has warned. 

Me and My Factory

Bakery manager: ‘handmade’ cakes driving growth

A Scottish bakery manager has claimed consumer demand for products that look like they are made by hand is driving growth in the sector.

Thistle Seafoods awarded multi-million pound deal

Scottish seafood manufacturer Thistle Seafoods has secured a multi-million pound cash injection deal with the Bank of Scotland.

Morrisons raises price of Marmite by 12.5%

Morrisons has raised the price of 92 Unilever products, including Marmite, just days after Tesco’s highly public row over Unilever’s price increase demands.

Bells Food Group in seven-figure pie deal with Lidl

Scottish pie and pastry maker Bells Food Group has struck a multi-million pound deal with retailer Lidl to supply it with a range of pies in Scotland.