UK: Bid target Inter Link in executive setback
Inter Link Foods has received a blow after its prospective finance director decided against taking the position.
The ailing company, which is in takeover talks with Irish food group McCambridge, said today (9 May) that Brendan Hynes had formally turned down the job offer.
Hynes first put back his decision to join the UK-based bakery group last month after it emerged that his current employer, drinks firm Nichols, was in talks over a possible sale.
"The board of Inter Link Foods is already seeking a suitable replacement and is hopeful of making an appointment soon," Inter Link said. "Meanwhile the interim financial management team will continue to manage the financial function."
McCambridge, which owns just over 9% of Inter Link, made the unsolicited approach for Inter Link last week.
On 1 May, Inter Link appointed former Premier Foods executive Ian Croxford as its chief executive.
This week, there have been signs that retailers are looking to pass on rising supplier costs to consumers. From discounters in Germany to Tesco in the UK, food processors could soon be getting some re...
Food producers are facing rising raw material costs, particularly for dairy ingredients and wheat, making food price inflation almost inevitable. But, writes Dean Best, in the midst of a continuing pr...
The salmonella scandal that hit Cadbury Schweppes last year cost its flagship chocolate brand some GBP83m (US$169m) in lost sales, according to a survey listing the top 100 brands in the UK....
Associated British Foods has insisted that full-year profits will be in line with expectations with rising earnings from its sugar operations offsetting problems from its grocery business....
First half profits at Premier Foods have fallen by a half despite a significant rise in turnover as the group integrated two significant acquisitions and sold off underperforming businesses....
Global rises in bread prices are set to continue as grain prices continue to put pressure on bakers according to a trade association....
British Bakeries, part of the Premier Foods group, has announced the proposed closure of one of its bakeries in Bradford, Yorkshire and a depot in Telford, Shropshire, in the face of falling demand fo...
The former chairman of Inter Link Foods has insisted the future is bright for the company despite its move into administration and subsequent sale today (20 July)....
- Interview: Sir Kensington's on sale to Unilever
- Danone's Q1: four things to learn
- Column: Why snacking is the new meal
- Interview: "Disruptive" snack brand Hippeas
- Nestle Q1 update: four things to learn
- Tyson shops Sara Lee bakery, Kettle and Van's
- Nestle to cut UK confectionery jobs
- Icelandic to sell Saucy Fish Co. owner Seachill
- Tyson to buy burger-to-entree firm AdvancePierre
- TreeHouse Foods sells soup, baby food units