UK: Northern Foods to buy out R & K Wise for £0.5m
The buyout of the privately owned company, which has a net book value of £1.6m, will also involve the assumption of £4m in debts. Wise principally supplies Marks and Spencer and last year its turnover reached £23m, although after tax it incurred losses of £1.7m.
Plans for streamlining after the buyout will see Northern closing Wise's bakeries in Swindon in a move to transfer production to the company's existing Park Cakes manufacturing outlets in Bolton and Oldham. Consultation with employee representatives from the Swindon plants will begin immediately.
CEO at Northern Foods, Jo Stewart, commented: "We are pleased to take this opportunity to enhance our established position as a leading UK cake supplier."
We produce far too much non-biodegradable packaging waste, say the environmentalists. We're short of landfill sites and it's damaging the environment. Yet, one potential solution, biodegradable or com...
These days, to be successful, supermarkets must provide value and quality, low prices and convenience, as well as reliability, consistency and responsibility. Aiming for such high standards means a ch...
UK food and clothing retailer Marks and Spencer can claim back GBP30m (US$53m) in tax from the British government following a European Court of Justice ruling today (Tuesday)....
Food company Northern Foods has challenged a government decision that would bar the foodmaker from using the name Melton Mowbray on its pork pies, saying the rules would benefit the dominant producer ...
UK food maker Northern Foods has reported a profit of £14.4m (US$25.0m) for the first half, compared to a loss of £7.9m a year earlier....
UK food and clothing retailer Marks and Spencer has said it expects group profit before tax and exceptionals for the 26 weeks to 1 October to be at or around the upper end of market expectations....
Sales at convenience foods company Northern Foods rose by approximately 3.4% in the 26 weeks ended 1 October, according to a trading update released by the company this (Monday) morning....
Sales at convenience food company Northern Foods rose by 3.2% in its first quarter to 2 July 2005, chairman Peter Blackburn told its Annual General Meeting today (Thursday)....
- Interview: Sir Kensington's on sale to Unilever
- Analysis: Post discusses rationale for Weetabix
- Interview: "Disruptive" snack brand Hippeas
- Who will buy Danone's Stonyfield business?
- Column: Why snacking is the new meal
- Unilever buys US condiments maker Sir Kensington's
- Tyson shops Sara Lee bakery, Kettle and Van's
- Dairy dampens Danone in Q1
- Icelandic to sell Saucy Fish Co. owner Seachill
- Nestle organic growth slows but beats expectations