On the rocks: Inflation puts pressure on grocers’ relationships with suppliers June 9, 2022 Tensions are escalating between the country’s retailers and their suppliers, according to research on behalf of the independent groceries regulator. Just over a quarter (26 per cent) of suppliers said they had experienced being refused by a retailer to consider a request for a cost price increase or an unreasonable delay in concluding such a [...]
Private healthcare giant Mediclinic rejects £3.4bn offer from consortium June 9, 2022 Private hospital operator Mediclinic has rejected a £3.4bn takeover approach from a consortium including billionaire luxury goods tycoon Johann Rupert. In an update on the London Stock Exchange, the Mediclinic board confirmed that it received an unsolicited and conditional proposal from a consortium on 26 May 2022. The consortium consisted of South African investment firm [...]
London becomes fourth most expensive city in the world: Rent, petrol and cooking oil drive cost of living June 9, 2022 A perfect storm of rising inflation, the war in Ukraine and soaring house prices and rent, have turned London in to a pressure cooker of expense, making it the fourth most costly place to live in the world. London move up one place according to new research about cost of living for expatriates around the [...]
Poundland owner: UK shoppers particularly wounded by higher bills due to stagnant wage growth June 9, 2022 Poundland owner Pepco has said consumers in the UK have been particularly wounded by higher costs of living, impacting spending. Pepco, which also owns discount retailer Dealz, said higher wages in Central and Eastern European markets were significantly offsetting inflationary pressures. However, in the Western European markets, stagnant wage growth had led to shoppers paring [...]
Apollo and Reliance Industries join forces to make binding bid of up to £6bn for chemist Boots June 9, 2022 Private equity firm Apollo and Indian conglomerate Reliance Industries have made a binding bid for high street chemist Boots, it has been reported. According to the Financial Times, the offer values the company at between £5bn and £6bn, two sources familiar with the deal told the newspaper. US owner Walgreens Boots Alliance had been looking [...]
Morrisons’ private equity owner clears final regulatory hurdle for £7bn supermarket sweep June 9, 2022 The competition watchdog has given the green light to Morrisons’ private equity owner, meaning the deal has now cleared regulatory checks. The Competition and Markets Authority (CMA) had provisionally accepted Clayton, Dubilier & Rice’s offer to sell 87 petrol stations in order to address competition concerns. Now, the watchdog said it has accepted the undertakings [...]
DFS reveals deliveries have dipped below expectations as supply chain issues bite June 9, 2022 DFS has revealed its production and deliveries are below expectations in the fourth quarter of the fiscal year.
Tate & Lyle snaps up Chinese dietary fibre firm as Ukraine conflict pushes up costs June 9, 2022 Tate & Lyle has inked an acquisition of a dietary fibre business in China as the syrup maker hopes to shrug off inflationary headwinds. In an update on Thursday, the former sugar-making giant said it had acquired Quantum Hi-Tech, for an undisclosed sum, to expand its presence into Chinese and Asian markets. For the year [...]
Fuller’s toasts return to profit amid ‘fragile’ consumer confidence June 9, 2022 Pub chain Fuller’s is back in the black after posting an adjusted profit before tax of £7.2m, as the licensed trade recovers from the pandemic. In results for the year to 26 March, the pub operator saw profit back in growth after posting a £48.7m loss in 2021, when Covid lockdowns enforced the closure of [...]
The new landlord in town: John Lewis to build homes on two London Waitrose sites June 9, 2022 John Lewis is preparing to pitch itself to Londoners as an affable landlord, revealing plans for two rental developments at Waitrose sites in the city. The retailer set out early plans to for build to rent developments in Bromley and West Ealing in London, as well as a vacant John Lewis warehouse in Reading. The [...]
