Finance

Sunak: 'We should be prepared for the economy and public finances to worsen potentially significantly'

Rishi Sunak's spring budget: fuel duty cut announced

By Rod Addy

Chancellor of the Exchequer Rishi Sunak has announced a 5p per litre fuel duty cut, 0% VAT on domestic renewable energy installations and a doubling of the Household Support Fund to help tackle soaring bills.

Twinings Ovaltine performed well in its interim period, ABF said

Sugar and ingredients soar as ABF offsets inflation

By Rod Addy

Associated British Foods (ABF) claims its sugar and ingredients divisions have delivered powerful performances in the 24 weeks to 5 March 2022, while Twinings Ovaltine proved a star performer in its grocery channel.

Invest NI has offered Pure Roast Coffee £209,295 towards R&D, the creation of ten jobs, and web development

Pure Roast Coffee secures £1m retail contract

By Rod Addy

Coffee roasting, packaging and distribution specialist, Pure Roast Coffee, which is based in Lisburn, Northern Ireland, has secured its first contract with a major retailer in Britain - worth £1m.

CCEP claimed growth across almost all categories

Financial roundup

CCEP sales fizz, Heineken toasts growth, Kerry Group revenue up

By Rod Addy

Sparkling drinks drove strong full-year sales growth for Coca-Cola Europacific Partners (CCEP) as markets began to recover from the pandemic, while Taste & Nutrition helped lift Kerry Group's annual performance and Heineken's revenue rose.

Jope: 'We see a bright future ahead for both nutrition and ice cream inside Unilever'

Financial roundup

Unilever and Arla UK brace for commodity cost hit

By Rod Addy

Unilever expects its commodity costs to rise by £3bn in 2022, claiming the price of soybean oil doubled in 2021, while Arla has predicted cost inflation will cause 'a slowdown in branded growth'.

L-R: Hood; Bleakney and Moorcroft

Moorcroft Foods to set up Northern Ireland factory

By Rod Addy

South African food company Moorcroft Foods, which makes dried meat snacks Biltong and Droewors has announced it is establishing a manufacturing facility in Newtownards, Northern Ireland, creating 11 jobs.

Oghma Partners said trading for 2022 would be 'more challenging'. iStock credit: Natee Meepian

Amount of food deals rockets in 2021

By Rod Addy

The amount of UK food industry mergers and acquisitions (M&A) soared in 2021 to the highest level in more than ten years, according to financial advisory firm Oghma Partners.

Bramble's in-house manufacturing division makes preserves, chutneys, sauces and cakes

Bramble Foods secures private equity cash

By Rod Addy

Private equity firm LDC has made a minority investment in fine foods manufacturer and distributor Bramble Foods 'to support its organic and acquisitive growth strategy'.

Food retailers and manufacturers are celebrating Christmas

Financial roundup

Tesco, Hilton, M&S, Bakkavor and Finsbury trading positive

By Rod Addy

Tesco, Hilton Food Group, Marks & Spencer, Finsbury Food Group and Bakkavor have all reported positive sales performance in their latest trading updates, indicating continued recovery from the pandemic.

BHC produces a range of spirits, honey and jams

The British Honey Company to consolidate production

By Rod Addy

Distiller, honey and jam producer The British Honey Company (BHC) has announced plans to close its Worminghall, Buckinghamshire office and distillery and consolidate production, dispatch and research & development at its Market Harborough site.

Currie: 'We have created a plan for strong growth'

Greggs appoints successor to Roger Whiteside as CEO

By Rod Addy

Greggs, the bakery retailer and manufacturer, has appointed Roisin Currie, currently Greggs retail and property director, as chief executive, replacing Roger Whiteside, who has already announced his intention to step down from the board.

Just Desserts makes a range of artisanal desserts and cakes, including cheesecakes

Regal Food Products Group acquires Just Desserts

By Rod Addy

Regal Food Products Group Plc, the company behind the Regal Bakery, Regal Foods and Yorkshire Baking Company brands, has acquired premium desserts manufacturer Just Desserts for an undisclosed sum.

Diana Food has grown red beet for natural coloring for more than 30 years

Denmark's Oterra acquires Diana Food's Holbeach site

By Rod Addy

Denmark-based natural food colours supplier Oterra has completed its acquisition of Diana Food's natural colourings business, which includes its factories at Holbeach, Lincolnshire and Cossé in France.

Efficient and renewable use of energy, water and other resources can help cut food manufacturers' bills

Lean & green: save costs and the planet

By Rod Addy

How can food and drink manufacturers offset rising production costs through increased efficiency and better use of resources, including renewable energy? That's the topic of the next Food Manufacture webinar.

Foppen is focused on added-value speciality smoked salmon products

Hilton acquires salmon producer Foppen

By Rod Addy

Multi-protein food business Hilton Food Group has agreed to acquire smoked salmon producer Dutch Seafood Company BV, which trades as Foppen, expanding Hilton's activities into the US market.

AG Barr to buy MOMA Foods

AG Barr to buy MOMA Foods

By Michelle Perrett

AG Barr, the soft drinks company, is to take over the MOMA porridge and plant-based milk business in three years after agreeing an initial 60% equity stake.

Most manufacturing and technical personnel will operate from Treatt's new site in 2022

Ready-to-drink cocktails lift ingredients processor's results

By Michelle Perrett

Treatt, the manufacturer of natural extract and ingredients claims to have ‘successfully navigated’ the pandemic, boosted by the swift evolution of the ready-to-drink canned cocktail market and continued growth in its healthier living categories.

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