Chilled food manufacturer Greencore’s US business is “off the critical list” after its acquisition today (June 27) of US sandwich and sushi manufacturer HC Schau & Son, according to City analyst Investec Securities.
Greencore’s sale of its Minsterley desserts business to Müller Dairy will allow the chilled food manufacturer to focus on developing its relationships with key customers such as Marks & Spencer, said city analyst Shore Capital.
“White elephant”, “millstone” and “problem child”: Just three of the images analysts have used to describe Greencore’s troubled desserts facility in Minsterley, which has been sold to Müller Dairy for £4.3M.
Speculation has emerged over the past month that chilled own-label food manufacturer Bakkavör could be the subject of a takeover bid following its troubled recent history
Anglo Irish convenience food manufacturer Greencore sees “huge potential for expansion” in the US chilled food market, according to its chief financial officer Alan Williams.
Own-label, fresh prepared foods firm Bakkavör is to launch an ethnic foods range “very soon”, according to the management statement accompanying its results for the quarter ended March 31.
The two Icelandic food entrepreneurs who founded the own-label food manufacturing business Bakkavör could acquire up to a quarter of the group’s shares, following financial restructuring talks.
Food manufacturer Jane McEvoy – fired by Lord Alan Sugar from his TV show The Apprentice last month – has bounced back by launching a range of organic, allergen-free, fresh baby and toddler soups.
New Covent Garden soup owner the Hain Celestial Group is to grow soup sales in the UK, Ireland and the US after its acquisition of Irish chilled soup specialist Cully & Sully.
KitKat maker Nestlé has beaten rival manufacturer Danone in the takeover battle for baby-food business Pfizer Nutrition after agreeing an offer of £7.35bn ($11.85bn) for the firm.
Anglo-Irish chilled foods manufacturer Greencore faces a tough challenge in the US convenience foods market, according to city analysts, after the firm announced the purchase of Arizona-based food-to-go firm Marketfare yesterday (April 17).
Sandwich manufacturer Solway Foods, part of 2 Sisters Food Group, has been found guilty of constructive dismissal and disability discrimination when a worker was forced to resign after falling at the firm’s Northamptonshire factory.
Food manufacturers are being warned of a possible food fraud surrounding the production of imported basmati rice which could be intentionally contaminated with Genetically Modified Organisms (GMOs).
Premier Foods, Dairy Crest and Britvic are among a growing number of food and drink manufacturers under increasing financial pressure as a result of a struggling retail market, according to a new report.
A total of nearly £3.5M was paid to Premier Food’s executives last year, with new md Michael Clarke receiving a golden hello payment of £1.94M upon joining the firm eight months ago.
Premier Foods’ all-important Power Brand plan has been questioned by city analysts who expressed concern over the strength of some of the firm’s core brands.
Government-funded support network Interface – Food and Drink will offer Scottish food and drink manufacturers nearly £20M over the next five years for research and development.
Pooles Pies could reach £100M in sales within the next five to 10 years, according to Neil Court-Johnston, the new owner and chief executive and former Holland’s Pies boss.
The acquisition of up-for-sale Ragu manufacturer Symington’s could be the key to unlocking the success of Premier Food’s non-core brands, according to city analysts, after reports of private equity interest in the businesses.
Sector Skills council Improve has urged the government to “remove the shackles” from the food industry, which are currently preventing many firms from targeting a younger generation of workers to the sector.
Dwindling global resources will force food manufacturers to radically change the way they do business in the next few years, according to Gavin Neath, Unilever’s senior vice president of sustainability.
Be passionate, stay focused and write a tight business plan, was the advice on building a successful food brand from Dragons' Den entrepreneur Levi Roots, delivered at the Foodex 2012 event, near Birmingham on March 25.
Food and drink manufacturers have urged Chancellor George Osborne to change government policy on energy and emissions or risk contributing to industry price rises of up to 40%.
Tumbling bread sales in the UK and an over aggressive acquisition strategy from previous management has significantly contributed to Premier Foods’ share price plummeting more than 90% since its purchase of Hovis in 2005.
The soaring share price of chilled foods manufacturer Greencore is proof that its recent decision to switch to the London Stock Exchange was beginning to bear fruit, according to city analysts.
Premier Foods still has “a long way to go” following its key re-financing deal, according to city analysts, after the firm revealed a 29% fall in trading profit last year.
Premier Foods has confirmed that it has secured a new four-and-half-year re-financing package with its lenders that will allow the firm to continue its recovery after a troubled 2011.
Higher prices could result from the recent government agreement preventing illegal eggs being exported to the UK, according to food and drink manufacturers.
Premier Foods will be keen to make further disposals ahead of any deal with its lenders, according to city analysts, after Manchester jam manufacturer Duerr’s confirmed it was still considering a bid for Hartley’s jam.
The row over changes to workers’ pensions at Marmite maker Unilever has moved closer to resolution after Unite the union revealed that the firm had made changes to its controversial proposals.
A private equity firm remains the strongest candidate for a bid for chilled foods giant Greencore, according to city analysts, as the firm prepares to switch over to the FSTE 100 next month.
Premier Foods has refused to comment on speculation that it has agreed a new deal with its lenders after the firm’s share price rose 6.5% to 12p yesterday (28 February).
Fresh food manufacturer Bakkavör has blamed a key contract loss from retailer Asda for its decision to cut 140 jobs at its English Village Salads (EVS) business in East Yorkshire.
Chilled foods manufacturer Hain Daniels has claimed that its Covent Garden Soup “Win a Farm” competition was fair and legal despite some entrants becoming outraged after no winning-prize was awarded.
Chilled foods look set to receive a further boost in sales following Sainsbury's decision last month to change its labelling to advise shoppers they can freeze many foods right up until the 'use by' date. Sainsbury's move is likely...
Premier Foods’ Power Brand plan is vital to reduce debt and restore banking confidence, according to city analysts, as talks with the firm’s lenders continue ahead of its scheduled covenants test next month.
Food manufacturing giant Kraft has confirmed that UK chocolate firm Cadbury had generated sales of about £257M ($400) since its controversial takeover last year.
Indie rock legends The Charlatans may have created a new breakfast snack after Kellogg revealed that a cereal made especially for singer Tim Burgess could be rolled out in the future.
Cereal manufacturer Kellogg has dismissed accusations from consumer watchdog Which? that some of its cereals are too high in sugar content after the campaign group accused the firm of targeting children with unhealthy products.
Cereal maker Kellogg has agreed a £1.7bn ($2.7bn) deal with consumer goods group Procter and Gamble (P&G) for its Pringles canned crisp business after it was revealed that the firm had ended its previous deal with Diamond Foods.
Manchester United Football Club’s (MUFC's) official ethnic meal supplier plans to become the largest producer of Asian foods in the UK with the creation of a new factory capable of producing up to 100,000 meals a day.
Irish chilled foods manufacturer Kerry Foods has snubbed Unite the union by refusing to talk with the organisation over the proposed 337 job losses at the firm’s factory in Grimsby.
Greencore has made an encouraging start since its acquisition of chilled foods business Uniq, according to city analysts, after the firm posted its most comprehensive financial results since the takeover.
