Diageo: Shares in FTSE 100 Guinness, Baileys and Johnnie Walker owner are staging a comeback Investing Shares in Diageo, the giant behind Guinness, Baileys and Johnnie Walker, are staging a comeback after falling to a historic low last month. The London-headquartered group, which also has a listing on the New York Stock Exchange, has seen its share rise to 2,581p in early trading today, up 3.6 per cent. The latest price [...]
Bumper pay day for Britvic boss ahead of £3.3bn Carlsberg deal Retail The chief executive of Robinsons squash maker Britvic has received a bumper pay day ahead of the group’s £3.3bn takeover by Carlsberg. Simon Litherland has been handed a £4.68m pay packet, up from the £2.86m he received in the prior year and £1.93m in the 12 months before that. The total is the highest Litherland [...]
Typhoo Tea takeover: New owner brews cost-cutting turnaround after rescue deal Retail With the immediate future of Typhoo Tea secured after it was rescued out of administration, attention is now turning to what could next be on the cards for the historic brand. City AM exclusively revealed late on Sunday that the troubled tea maker is to be taken over by a vapes, batteries and vitamins seller [...]
Typhoo Tea rescued out of administration in £10m deal by vapes giant December 1, 2024 Typhoo Tea has been rescued out of administration by a vapes, batteries and vitamins seller for more than £10m. The trade and selected assets of the Bristol-based company have been acquired by Manchester-based Supreme, which is listed on the London Stock Exchange’s AIM, for £10.2m. In a statement, Supreme said the deal includes Typhoo Tea’s stock [...]
Typhoo Tea: How trespassers and losing £120m led to downfall of historic brand November 29, 2024 Despite not making a profit since 2017, the management running Typhoo Tea had still been optimistic for 2024 just months before the historic brand crashed into administration. Writing in its latest accounts, the company’s directors stated they were “excited” for the 2024 financial year, proclaiming that “legacy issues have been largely dealt with and the [...]
Love Island host Maya Jama invests in pea milk brand Sproud October 29, 2024 Love Island presenter Maya Jama has invested in Swedish plant milk brand Sproud – which is already backed by a shareholder of Fortnite maker, Epic Games. Jama is to be a strategic advisor and public face of the company following the deal, the value and scale of which has not been revealed. Sproud’s investors also [...]
Fentimans in the red after poor summer weather flattens drinks brand September 19, 2024 Soft drinks and tonic water brand Fentimans fell into the red during its latest financial year after bad summer weather and the cost-of-living crisis impacted its sales. The Northumberland-based business has reported a pre-tax loss of £655,708 for 2023, according to newly-filed accounts with Companies House. The loss comes after Fentimans posted a pre-tax profit [...]
Lucozade, Ribena and Orangina owner continues remarkable profit rise September 18, 2024 Profit at the UK company behind Lucozade, Ribena and Orangina has increased for the seventh consecutive year while its sales continued its post-pandemic rise. Suntory Beverage & Food GB&I has reported a pre-tax profit of £109.1m for 2023, up from the £100.7m it posted for 2022, according to newly-filed accounts with Companies House. The last [...]
Glass half empty: Distil searches for a loan as spirits firm’s revenue halves August 14, 2024 Spirits firm Distil has reported a steep drop in revenue in light of inflation, cost-of-living pressures and a significant hike in alcohol duty. The AIM-listed firm, which owns brands including RedLeg Spiced Rum, Blackwoods Gin and Vodka and Blavod Vodka, said that revenue fell by 55 per cent in the four months covering April-June this [...]