How the Grangemouth tough guys Jim Ratcliffe and Calum MacLean fell out March 31, 2015 When Ineos was founded in 1998, it was formed by Jim Ratcliffe in an £84m buyout of a chemicals firm. Sixteen years later, Ratcliffe and his team, including Calum MacLean, had built that into an industrial titan with operations in 16 countries and turnover of $54bn (£36bn) a year. An aggressive approach to acquisitions and [...]
Thomas Cook gets north European boost but hit by currency volatility March 31, 2015 THOMAS Cook yesterday reported trading in line with expectations, with the summer of 2015 more than 50 per cent sold. The travel firm continues to build on last year with Thomas Cook’s Concept Hotels growing 20 per cent from the previous year. Bookings at thomascook.com have climbed 10 per cent. However, the company took a [...]
Sutherland snaps up SuperGroup shares March 31, 2015 FORMER Co-operative Group chief executive – and current SuperGroup boss – Euan Sutherland (insert) yesterday announced he was buying just over £99,000 worth of shares in the Superdry owner at 980.50p a share. He now holds 11,613 shares. Analysts have enthused about the clothes retailer. Analysts at RBC Capital upgraded shares of SuperGroup to a [...]
Yoox ties up with Net-A-Porter in €2.8bn merger March 31, 2015 ITALIAN Fashion retailer Yoox announced it would be merging with designer clothing website Net-A-Porter yesterday, in an all-share deal set to create the world’s largest online luxury clothing outlet. The new entity, Yoox Net-A-Porter will have combined sales of €1.3bn (£942m), with Net-A-Porter owner Richemont having a 50 per cent stake in the new firm. [...]
Economic optimism improving, but not all feel better off – Brand Index March 31, 2015 AND WE’re off. After the phony war, the election campaign started in earnest this week, and there are clear battles lines drawn between Labour and the Conservatives when it comes to the economy. The Tories stress growing GDP and a promised return to prosperity, while Labour is emphasising fairness and equality. But how do the [...]
Charterhouse exits card firm March 31, 2015 CHARTERHOUSE Capital Partners fully exited Card Factory yesterday, selling off its remaining stake in the company, which has seen its share price rise 30 per cent since it floated last year. The exit is the final phase after Charterhouse began to sell down its stake in the company last December, with a further sell off [...]
Goldman and Pru leave port March 31, 2015 GOLDMAN Sachs and Prudential are exiting Associated British Ports after striking a £1.6bn deal with a Canadian pensions firm to acquire their stake, it was announced yesterday. The deal, which is to be completed this summer, will see Goldman Sachs and Prudential subsidiary Infracapital sell their combined 30 per cent stake to Canada Pension Plan [...]
Brewer Marston’s takes another gulp of Thwaites March 31, 2015 BRITISH pub brewer and operator Marston’s has said it will take another gulp of north west-based beer maker Thwaites. In an update to the London Stock Exchange yesterday, Marston’s, which has been brewing Thwaites’ beers since early last year, announced it had bought its beer division outright for £25.1m. As part of the acquisition, Marston’s [...]
Heineken executives have one for the road March 31, 2015 DUTCH brewer Heineken is revamping its top team in an effort to boost faltering sales, it was disclosed yesterday. The company will be losing three of its executives, including its chief strategy officer Chris Barrow (top left), who has been at the company for more than a decade. In addition, the firm announced the departure [...]
April Fools’ Day? Norfolk gives a broad hint on Nelson’s Column March 31, 2015 The Capitalist inbox has been swamped by a spate of press releases that can only be described as weird. Take, for instance, a plan to relocate Nelson’s Column from Trafalgar Square to the North Norfolk coast in time for the 210th anniversary of the death of the region’s most famous son. Visit North Norfolk says [...]
