Apollo and Reliance Industries join forces to make binding bid of up to £6bn for chemist Boots June 9, 2022 Private equity firm Apollo and Indian conglomerate Reliance Industries have made a binding bid for high street chemist Boots, it has been reported. According to the Financial Times, the offer values the company at between £5bn and £6bn, two sources familiar with the deal told the newspaper. US owner Walgreens Boots Alliance had been looking [...]
Morrisons’ private equity owner clears final regulatory hurdle for £7bn supermarket sweep June 9, 2022 The competition watchdog has given the green light to Morrisons’ private equity owner, meaning the deal has now cleared regulatory checks. The Competition and Markets Authority (CMA) had provisionally accepted Clayton, Dubilier & Rice’s offer to sell 87 petrol stations in order to address competition concerns. Now, the watchdog said it has accepted the undertakings [...]
DFS reveals deliveries have dipped below expectations as supply chain issues bite June 9, 2022 DFS has revealed its production and deliveries are below expectations in the fourth quarter of the fiscal year.
Tate & Lyle snaps up Chinese dietary fibre firm as Ukraine conflict pushes up costs June 9, 2022 Tate & Lyle has inked an acquisition of a dietary fibre business in China as the syrup maker hopes to shrug off inflationary headwinds. In an update on Thursday, the former sugar-making giant said it had acquired Quantum Hi-Tech, for an undisclosed sum, to expand its presence into Chinese and Asian markets. For the year [...]
First Group rejects £1.2bn takeover bid from private equity I Squared June 9, 2022 Public transport titan First Group has rejected a £1.2bn takeover bid from US private equity I Squared. FirstGroup is the latest UK company to be sought after by foreign investors, as rival Stagecoach was snatched from underneath National Express by German asset manager DWS in late May. In an update to the London Stock Exchange, [...]
Fuller’s toasts return to profit amid ‘fragile’ consumer confidence June 9, 2022 Pub chain Fuller’s is back in the black after posting an adjusted profit before tax of £7.2m, as the licensed trade recovers from the pandemic. In results for the year to 26 March, the pub operator saw profit back in growth after posting a £48.7m loss in 2021, when Covid lockdowns enforced the closure of [...]
The new landlord in town: John Lewis to build homes on two London Waitrose sites June 9, 2022 John Lewis is preparing to pitch itself to Londoners as an affable landlord, revealing plans for two rental developments at Waitrose sites in the city. The retailer set out early plans to for build to rent developments in Bromley and West Ealing in London, as well as a vacant John Lewis warehouse in Reading. The [...]
Franco Manca owner says restaurants in office locations struggling to return to pre-Covid trade June 8, 2022 The owner of pizza chain Franco Manca has said its restaurants situated nearby office hubs “still have a way to go” with returning to pre-pandemic levels. However, Fulham Shore said that its small number of restaurants situated in worker hotspots were “showing continued improvement” as demand recovers after Covid lockdowns. Footfall was down 15 per [...]
Boots to freeze prices on own label essential beauty and health products June 8, 2022 High street chemist Boots has said it will freeze prices on more than 1,500 beauty and health products as consumers face a cost of living crunch this year. The company said it would lock prices on popular essential items until the end of the year. Items under the Boots own label lines will see price [...]
City Pub Group evaluates menu offering as increased headwinds hammer sector June 8, 2022 The City Pub Group’s sales have surged faster than predicted, with last month’s results slightly ahead of pre-pandemic levels. The pub operator said it was trying to mitigate historic cost inflation hitting the sector, with a “particular focus on labour scheduling to maximise sales and efficiency.” “Control of energy usage and procurement remains a key [...]
