On the rocks: Brewery openings stall as multinationals move in April 22, 2019 A boom in new brewery sites has slowed down dramatically in the last 12 months as multinational firms muscle in on the growing demand for craft beer. Read more: Carlsberg promotes negative tweets about its own beer Growing competition from large businesses has hindered smaller brewers from setting up new outlets, causing the growth in openings [...]
Rentokil set to continue acquisition spree while organic growth continues April 18, 2019 Pest control expert Rentokil Initial said this morning it is planning to continue an acquisition-heavy strategy and is likely to spend between £200m and £250m on takeovers this year. The firm showed 4.9 per cent growth from takeovers in the first three months of the year, while organic revenue grew at four per cent. Read [...]
City takeover watchdog boss apologises for emailing business leaders to sign anti-Brexit petition March 29, 2019 A City watchdog boss has apologised for wading into the Brexit debate after urging a number of high-profile business contacts to sign a controversial petition to revoke Article 50. Anthony Pullinger, who is listed as a deputy director general of the City's takeover panel, which oversees mergers and acquisitions, last week emailed a long list [...]
UK digital advertising spend to grow to £15bn in 2019, report states March 4, 2019 Spending on digital advertising in the UK is set to grow to more than £15bn this year amid a boom in new digital marketing technology, a new report has revealed. Digital ad spend will enjoy double-digit growth in 2019 as the industry moves away from traditional media forms, according to the latest forecasts by Barclays [...]
Rampant rodents: Rats on the rise last summer boost finances at pest control giant Rentokil February 28, 2019 Pest control giant Rentokil’s shares rose on Thursday morning as it said its services had been in high demand through last year’s long, hot summer. The blue chip firm also announced it would replace its chairman of more than a decade, John McAdam, with senior director at Aston Martin, Richard Solomons. Read more: CMA orders [...]
Sainsbury’s shares crash as Asda merger torpedoed February 27, 2019 | City Talk A strongly worded report from the regulator appears to have torpedoed this supermarket mega merger. What a difference a day makes. Until this morning, Sainsbury's (LSE:SBRY) was the best-performing supermarket stock over the past 12 months by some margin. Now, after the regulator's report on its proposed merger with Asda, it's the worst! After months [...]
Stock Spirits buys Italian grappa producer Distillerie Franciacorta for €26.5m January 31, 2019 Vodka manufacturer Stock Spirits has snapped up Italian grappa giant Distillerie Franciacorta in a deal worth €26.5m (£23.2m), the company said today. The London-listed drinks firm will take over Distillerie Franciacorta’s spirits and liqueurs business for €23.5m and pay a further €3m for land, with plans to build a new production facility. Read more: Activist investor [...]
Activist investor takes shot at board of vodka maker Stock Spirits January 27, 2019 A Portuguese activist investor has launched a no-holds-barred attack on the chairman and senior director of vodka maker Stock Spirits amid discontent about shareholder returns. Luis Amaral, whose investment firm Western Gate holds a 10 per cent stake in Stock Spirits, has called on fellow shareholders to oust chairman David Maloney and senior independent director [...]
Activist shareholders step up pressure on UK boards January 13, 2019 Shareholder activism increased sharply in the UK last year as investors launched campaigns at 25 companies, spending $7.35bn (£5.72bn) on shares. Elliott Advisors was the most prolific activist investor, launching 22 new campaigns worldwide, according to research by the investment bank Lazard. Elliott led a campaign that prompted UK retailer Whitbread to offload Costa Coffee to Coca-Cola [...]
Merger growth drives Grant Thornton International to record £4.3bn revenues January 9, 2019 Grant Thornton International reported record revenues of $5.45bn (£4.28bn), lifted by income expansion from international mergers, and strong growth in its tax and advisory arms. The figure is up $450m on last year, representing an average growth of 9.4 per cent across the whole organisation – slightly behind the 10.7 per cent global growth at [...]