Furniture specialist ScS hails ‘strong year of recovery’ October 5, 2021 Furniture specialist ScS said this morning it is experiencing a “strong year of recovery” as the firm bounced back to profitability. The Sunderland-based company reported a pre-tax profit of £22.7m for the year to July 31, after tumbling to a £3.1m loss in the previous year. Steve Carson, chief executive of ScS, also hailed a [...]
What’s next for food delivery following the junk food ad ban? October 5, 2021 It’s been a confusing 12 months for UK food advertisers. First, there was the proposed ban on junk food TV advertising before the 9pm watershed. Then there was the announcement of more sweeping measures to obliterate online junk food advertising in the UK. Just a few months later, relief swept the food and drink industry [...]
Starbucks joins Deliveroo for app orders October 5, 2021 Coffee chain Starbucks and delivery app Deliveroo have joined forces. More than 400 of the chain’s stores are available to order on the Deliveroo app from today, with more stores being added throughout the month. Londoners can now order coffees alongside sandwiches and other menu items. Other areas involved include Birmingham and Manchester. Standard delivery [...]
Food and beverage M&A activity at highest since 2010 October 5, 2021 UK food and beverage M&A market activity was at its highest since 2010 this summer. Deal value between May and August, was at an estimated £3.9bn, according to corporate finance house Oghma Partners’ latest report. The year-to-date total value of recorded deals are estimated at £5.8bn – the nearest annual total was that 2015’s figure [...]
Supermarket sweep: Sainsbury’s and Tesco singled out as next takeover targets October 4, 2021 Sainsbury’s and Tesco have been singled out as the next targets for buyout firms after the Morrisons deal. US investment company Fortress – which was beaten to the Morrisons takeover by private equity Clayton, Dubilier & Rice (CD&R) at auction – has indicated it is interested in other UK acquisitions. Joshua Pack, financier at Fortress, [...]
Burger chain Five Guys thanks ‘curbside collection’ for mitigating Covid impact October 4, 2021 Burger chain Five Guys has said it is keen to continue a roll out of venues in the UK. New store openings were offset by the impact of the Covid pandemic in 2020, accounts filed to Companies House laid bare. The chain opened 10 new stores in the year, boasting 110 restaurants by the year [...]
BrewDog hopeful of a better year after filing 2020 losses October 4, 2021 BrewDog has said the most recent trading numbers for its bar division “tell a very different story” to its yearly results for 2020. The company’s venues division posted a pre-tax loss of £10.4m for the year ended December 31 2020. This is compared to a pre-tax loss of £653,000 in 2019. What’s more, the company [...]
McDonald’s pledges to achieve net zero emissions for all UK restaurants by 2030 October 4, 2021 McDonald’s has set out its strategy to help its operations in the UK and Ireland achieve net zero carbon emissions by 2040. The fast food chain has pledged to achieve net zero carbon emissions across its global operations by 2050. The chain will aim to achieve net zero emissions for all its restaurants and offices [...]
Issa brothers’ EG Group acquires UK’s second-largest bakery business October 4, 2021 Petrol station forecourt giant EG Group has acquired the country’s second-largest bakery business, Cooplands The Issa brothers’ firm has acquired CS Food Group Holdings Limited, which operates a number of bakeries that produce and distribute fresh food to some 180 stores and cafes. The bakery business mostly operates across the north-east and Yorkshire regions and [...]
French Connection sold to consortium led by second-largest shareholder October 4, 2021 Clothing brand French Connection has been sold to a consortium including its second-largest shareholder in a deal valuing it at £29m. The firm – which operates 150 stores and concessions across the world – has accepted a 30p-per-share offer, after struggling with years of losses. It represented a 30 per cent premium to the share [...]
