Business Leaders

Bakkavor's salad sales were still behind 2019 levels, but a recovery in food-to-go still drove a strong sales performance

Bakkavor trading 'ahead of 2019' except for salads

By Rod Addy

Bakkavor, the fresh prepared food manufacturer, has reported second quarter trading ahead of 2019, although sales of salads had been hit by COVID-19 restrictions and mixed weather.

The newly merged business will process about 500m litres of British Red Tractor farm assured milk

Freshways Dairy and Medina Dairy merge

By Rod Addy

Freshways Dairy and Medina Dairy have announced a merger to create a more sustainable, scaled up business called Medina Freshways Ltd.

Typhoo processes its branded and own label teas in the UK

Typhoo Tea acquired by Zetland Capital

By Rod Addy

Typhoo Tea Ltd, maker of brands such as Lift and Heath & Heather has been acquired by private equity firm Zetland Capital, enabling it to invest in production and boost jobs.

SMEs in all sectors are struggling financially

Surge in food SMEs in significant financial distress

By Rod Addy

The amount of small and medium-sized enterprises (SMEs) in food and drink manufacturing in significant financial distress has risen by 35%, comparing the first quarter of 2020 with the first quarter of 2021.

Clothier: 'The system is older than you or I'

FoodMan Talks: Wyke Farms grows exports amid Brexit red tape

By Rod Addy

Post-Brexit bureaucracy is still hampering cheese producer Wyke Farms' export efforts, although the company is making considerable headway in markets outside the EU, according to managing director Richard Clothier in the latest FoodMan Talks.

Gü recently expanded into fast-growing categories such as free-from

Noble Foods agrees Gü acquisition by Exponent

By Rod Addy

Noble Foods has agreed to sell top premium chilled desserts brand Gü to Exponent for an undisclosed sum, as the private equity group claims the brand has significant global potential.

Chicken Joes secured a tax benefit worth £77,863 with the help of R&D tax consultancy Catax

Chicken Joes boosts business after securing £78k tax credit

By Gwen Ridler

In this exclusive interview, Chicken Joes managing director Joe Koumi discusses how a research and development (R&D) tax rebate has benefitted his business and the perceived difficulties with companies pursuing rebates.

Johnson: 'We will not pull the rug out'

Chancellor 'should extend furlough and credit insurance'

By Rod Addy

Chancellor Rishi Sunak should extend the Government's furlough and credit insurance schemes in his March Budget announcement to support the food and drink industry and others hit by COVID-19-related lockdowns.

The Nescafé range performed strongly across the world

Nestlé: Nescafé and Starbucks among top performing brands

By Rod Addy

Garden Gourmet, Nescafé, Starbucks and Purina PetCare fuelled organic sales growth in Europe, the Middle East and North Africa, according to Nestlé's latest full-year results, although COVID-19 hit group reported sales.

Continued impact from the pandemic is expected, but Tate & Lyle proved buoyant

Britvic, Tate & Lyle and Diageo post financial updates

By Rod Addy

Out-of-home declines at Britvic offset sales growth in at-home products in its first quarter (Q1), Tate & Lyle's primary product sales rose in the three months to 31 December and Diageo reported dented interims.

Businesses are pinning their hopes on improved performance once lockdown eases

Financial roundup: pandemic pummels food firms

By Rod Addy

Greencore, Real Good Food (RGF) and AG Barr financial updates all reflected hits as the latest COVID-19-related lockdown affected consumer buying habits, but hope remains for the coming year.

Jenkins: export plans to include North America, the Far East and Australia

FOOD MAN TALKS

Somerdale director on Abergavenny Fine Foods deal and Brexit

By Rod Addy

Alan Jenkins, Somerdale International's director responsible for North America exports explains what the acquisition of Abergavenny Fine Foods's (AFF's) blended cheese assets means for his business and outlines the impact of Brexit.

Seafood and plant-based firm Paramount 21 appoints directors

Paramount 21 appoints two directors

By Jerome Smail

Devon-based seafood and plant-based product manufacturer Paramount 21 has announced two appointments to its board of directors.

The refinancing will improve free cash flow within the business, 2 Sisters said

2 Sisters makes further progress on turnaround plan

By Rod Addy

2 Sisters Food Group has secured a £475m bond and an £80m revolving credit facility, representing a successful refinancing of the business and enabling it to boost financial performance and generate further cash.

Descheemaeker: 'Long-term value creation'

Nomad Foods swoops on Findus Switzerland

By Rod Addy

Nomad Foods Ltd has agreed to acquire Findus Switzerland from Froneri International and certain intellectual property from an affiliate of Nestlé SA for €110m (£97.7m).

The agreements have been made in order 'to build the best added-value chilled food company in the UK'

Double acquisition heralds chilled foods mega-merger

By Rod Addy

Addo Food Group and Winterbotham Darby have been acquired by private equity firm PAI Partners for undisclosed sums, with the aim of merging the two to create a significant force in chilled foods.

The Hovis brand is 134 years old

Analysis

Hovis acquisition builds Endless bakery portfolio

By Rod Addy

Endless LLP's acquisition of Hovis builds its bakery presence, with the bread brand joining cake manufacturer Bright Blue Foods in the private equity firm's portfolio and opportunities for synergies, one financial adviser claims.

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