£35.6m
As a result, RGF’s total net debt is expected to reduce from £47.6m (as at 31 March 2021) to £21.2m. It added that the board will be undertaking a ‘thorough’ review of its working capital needs in the coming weeks, which may result in further payments to loan note holders and the pension scheme to further de-risk the balance sheet. The transaction is expected to complete on 11 May 2021.
“We are very pleased with the disposal which crystallises substantial value for the group and enables us to halve our debt burden at a stroke, whilst materially improve the funding of the pension scheme,” said executive chairman Mike Holt.
The Hut Group strengthens snacking capability with £43m Brighter Foods deal
thegrocer.co.uk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thegrocer.co.uk Daily Mail and Mail on Sunday newspapers.
Nano Dimension (NNDM) Adds Oded Gera to Board
streetinsider.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from streetinsider.com Daily Mail and Mail on Sunday newspapers.
By Edward Devlin2021-02-25T16:18:00+00:00
Retail sales of Wagon Wheels are up 18%, Jammie Dodgers up 5.4% and Maryland Cookies up 1.8%, according to The Grocer’s Top Products Survey with Nielsen
Jammie Dodgers and Wagon Wheels maker Burton’s Biscuits is being put up for sale after its owner appointed bankers to explore options.
Ontario Teachers’ Pension Plan, which bought Burton’s in 2013, has hired advisors at Stamford Partners to run the process for the UK’s second largest biscuit manufacturer over the coming months, The Grocer has learned.
City sources said the auction was expected to be highly competitive and could fetch upwards of £360m after demand for biscuits skyrocketed during the pandemic as shoppers stocked up cupboards with household favourites throughout lockdown.
Got Milk? Israeli Food Tech Startup Serves Up Cow-Free, Lab-Made Dairy
Health & ScienceTech & Innovation
Remilk serves up animal-free dairy products. Photo: Remilk website
The way people eat has changed significantly over the past few decades amid rising awareness about the impact of commercial farming on our health, our lifestyles, and our environment. In recent years, there’s been a noticeable shift toward more animal-free, plant-based food options, and rising interest in transparency over food sources, especially in the Western world.
The “clean” meat industry has certainly been having a moment, with players such as Impossible Foods, Beyond Meat, and Israeli startups like Redefine Meat, Future Meat, and Aleph Farms, all having a stake in the future of plant-based and cultivated meat.