Finance

ABF revenue down, but Allied Bakeries stays strong

Associated British Foods, the group behind Kingsmill, has announced that group revenue is down 2% to £6.2bn in the 24 weeks to 1 March, due to food commodity deflation.

2 Sisters records pre-tax operating loss

The 2 Sisters Food Group has reported a £13.3m operating loss before taxation for the 52 weeks ended 27 July 2013 – up from a loss of just £1.3m the year before.

Starbucks moves European HQ to London

Global coffee chain Starbucks will move the regional headquarters of its Europe, Middle East and Africa business from Amsterdam to London by the end of 2014.

West Cornwall Pasty Company bought from administration

West Cornwall Pasty Company has been rescued out of administration by a new investment fund, for an undisclosed sum.

Daelmans Group snaps up Fabulous Bakin’ Boys

The Fabulous Bakin’ Boys has been bought by the Dutch bakery business Daelmans Group for an undisclosed sum.

Bakery helps boost food performance at Marks & Spencer

Marks & Spencer said bakery remained a key focus area as it posted news of strong food sales in its fourth-quarter (Q4) trading statement this week.

AAK acquires Belgian CSM rival

AAK has acquired an oils and fats business of CSM that caters for the French, Belgian and Dutch markets for an undisclosed sum.

2 Sisters to invest in bakery, appoints new head

2 Sisters Food Group has appointed Lochlain Feeley to the newly created role of bakery managing director.

Finsbury: profits up, slashes debt

Bread and cake maker Finsbury Food Group revealed this morning its operating profit increased by 5.2% to £2.6m in the first half of the year to 28 December 2013.

UK food exports up, Chinese market doubles

Total UK food and non-alcoholic drink exports grew 5% to £12.8bn in 2013, according to the Food and Drink Federation (FDF).

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