Buffett Dines on Heinz for $28bn February 14, 2013 US BILLIONAIRE investor Warren Buffet and 3G Capital have swooped in to buy Heinz in a $28bn (£18bn) deal that marks one of the food industry’s largest ever acquisitions. Buffett’s investment firm Berkshire Hathaway and the Brazilian-backed private equity firm will pay $72.50 per share for the baked beans and ketchup maker, a 20 per [...]
Sun European takes a shine to packaging January 2, 2013 SUN EUROPEAN Partners has snapped up two packaging companies including Lincolnshire-based Paragon Print & Packaging in a £400m spending spree. Sun European, an arm of US private equity firm Sun Capital, yesterday said it had bought a 49 per cent stake in Paragon from Equistone and LDC for an undisclosed sum. Sun European also completed [...]
The future looks cloudy for this Sauvignon Blanc February 12, 2013 bottle.opener@cityam.com Once the wine of choice, Cloudy Bay now has some real competition Whatever HAPPENED to Cloudy Bay? A few years ago the release of the new Cloudy Bay Sauvignon vintage was greeted with excitement amongst wine lovers. After all, this was a wine to celebrate – a taut yet ripe Sauvignon Blanc with real [...]
The big bad business of exploiting eager interns for free labour January 27, 2013 THE disillusioned young worker struggles out of bed at dawn and heads off to a menial and mindless job, offering only pitiful pay, poor treatment, and long hours. Happens in Asia, right? Africa? Well it happens here too. I met two people recently with worrying stories. Betti was excited about the world. She had just [...]
Micro Focus revenues in line November 8, 2012 Micro Focus, a software provider for 91 of the FTSE 100 firms such as Tesco and HSBC, said yesterday that in the past six months revenues were in line with the market for the period and earnings are slightly ahead of expectations. During the period the company reduced its net debt to $96.2m (£60.2m) from [...]
Greggs’ pasty tax rebel flakes away to Brakes December 10, 2012 PASTY shop Greggs yesterday began the search for a new chief executive after current boss Ken McMeikan, who led a rebellion against government proposals for a pasty tax, said he was quitting the business. McMeikan, who is credited with turning the high street Steak Bake maker from a small scale bakery into a thriving national [...]
Dairy Crest loses Tesco contract April 17, 2012 Dairy Crest said yesterday it has lost its contract to supply milk to Britain’s largest retailer Tesco and that it was looking at closing two facilities, which will affect about 470 staff. The manufacturer of Country Life butter, Cathedral City cheese and flavoured milk drink Frijj, said Tesco had decided not to renew its contract [...]
Dairy Crest loses Tesco contract April 17, 2012 Dairy Crest said yesterday it has lost its contract to supply milk to Britain’s largest retailer Tesco and that it was looking at closing two facilities, which will affect about 470 staff. The manufacturer of Country Life butter, Cathedral City cheese and flavoured milk drink Frijj, said Tesco had decided not to renew its contract [...]
Leahy offers Tesco answers at Hay Festival April 22, 2012 INVESTORS seeking to find out what’s going wrong at supermarket chain Tesco might want to indulge their literary side and buy a ticket to this year’s Hay Festival – as the firm’s former chief executive is set to appear at the event. Terry Leahy, who led the firm for 14 years before quitting last spring, [...]
Leahy offers Tesco answers at Hay Festival April 22, 2012 INVESTORS seeking to find out what’s going wrong at supermarket chain Tesco might want to indulge their literary side and buy a ticket to this year’s Hay Festival – as the firm’s former chief executive is set to appear at the event. Terry Leahy, who led the firm for 14 years before quitting last spring, [...]