Apollo teams up with Mukesh Ambani in bid for Boots April 27, 2022 Buyout giant Apollo has teamed up with India’s second-richest man Mukesh Ambani to launch a bid for Boots, as the race to takeover the chain enters the final stretch.
City Pub Group shares take off after pub chain’s Mosaic acquisition plans April 27, 2022 City Pub Group’s shares have climbed after the pub group said it was eyeing up to 70 sites by the end of next year. The premium pub operator saw shares lift 12 per cent on Wednesday afternoon after its preliminary results revealed trade had all but recovered to pre-pandemic levels. Trading for the last nine [...]
Kellogg’s to battle government’s sugar restrictions in court April 27, 2022 Cerealmaker Kellogg’s is taking the government to court over new legislation that will prohibit some high sugar products being prominently displayed in stores. The food titan argued the government’s formula should factor in the nutritional value of milk, which it says is eaten with cereal in the vast majority of cases. From October, retailers will [...]
Ted Baker: Fashion retailer receives ‘a number’ of bids from suitors as sale hots up April 27, 2022 Ted Baker confirmed it has been the recipient of a number of bids from suitors hoping to snap up the high street fashion retailer. The clothes seller entered into a formal sales process earlier this month, after being wooed several times by US private equity firm Sycamore. It had previously revealed it had been approached [...]
Landmark year: GSK beats quarterly expectations as it plans consumer healthcare spin off April 27, 2022 Healthcare giant GlaxoSmithKline has reiterated its growth outlook after posting first quarter sales of £9.8bn, surpassing analysts’ expectations. The pharmaceutical firm said it anticipated it would deliver sales growth in 2022 of between five to seven per cent at CER and growth of adjusted operating profit of between 12 to 14 per cent at CER. [...]
WH Smith returns to profit and hopes to capitalise on travel comeback April 27, 2022 Stationery giant WH Smith has returned to profit and said it was set to reap the benefits of opening a number of new stores in airports as international travel rebounded. In interim results for the six months ended 28 February 2022, the high street named revealed headline profit before tax and non-underlying items hit £14m. [...]
Top investors pile pressure on food giants to ramp up health performance April 26, 2022 A group of investors representing £3tn in assets have called on some of the world’s top food producers to ramp up their performance on health.
PepsiCo swallows nearly $500m in charges after Russia invades Ukraine April 26, 2022 Beverage maker PepsiCo has taken a hit of nearly $500m in charges relating to Russia’s invasion of Ukraine. The soft drinks giant told investors on Tuesday that it had been forced to swallow $241m “brand portfolio impairment charges” and a separate $241m in “Russia-Ukraine conflict charges”. While the group suspended sales of soft drinks brands [...]
Boots sets mid-May deadline as owner seeks multi-billion sale April 26, 2022 Boots’ owner has set a deadline of 16 May for final offers for the chemist chain. Walgreens Boots Alliance’s (WBA) has issued the deadline to suitors as it seeks to sell the chain, Sky News has reported. Suitors expected to make final proposals include Asda and Apollo Global Management. However, India’s Reliance Industries was thought [...]
Loungers eyes profit ahead of market expectations after post-Omicron rebound in sales April 26, 2022 Bar operator Loungers now anticipates its yearly profit to be “slightly ahead” of market expectations, after a strong performance after Christmas. In a trading update for the year to 17 April, the firm said it “recovered strongly” after a period of “subdued” trading in December, due to the Omicron variant and related Covid measures. The [...]