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Main shareholder JAB Holding seeks to shake up business after period of sustained share price underperformance
...Since then, as well as agreeing to buy Presidio, it has made a series of large investments including buying snack company Shearer’s Foods. CD&R and BC Partners declined to comment....
...The group has 244 full department stores selling clothes, food and homeware, with another 319 M&S-owned food stores and 461 franchise food stores....
...These have picked up markedly in recent years, from a low of about 400,000 b/d in the pandemic year of 2020 to about 1.4mn b/d recently, according to Richard Bronze at Energy Aspects....
...“You’ve got the two biggest beasts in the middle market, you’d be forgiven for thinking they can’t both do well [in food] at the same time, or can they?” said Hyman....
...No mention of the B-word, then....
...) big enough to make a meaningful impact on Berkshire’s earnings, (b) possible to reliably value, (c) have trustworthy and competent management, and (d) are available at a reasonable price....
...Clark’s soon-to-be-former-employer Persimmon expects 2023’s full-year results to be ahead of guidance, and Taylor Wimpey expects its results to be at the top end of forecasts....
...cash-pay; d) something else....
...That made for an unsustainable debt load, which S&P put at A$870mn to A$880mn, on an adjusted basis. That was about 17 times ebitda....
...(a) (of a gem) uncut, unpolished; (b) (of water) undistilled; not filtered; (c) (of alcoholic spirit) undiluted; (d) (of grain) unmalted, undried; (e) (of sewage) untreated. I.2.e....
...Nearest subway stop is Houston Street Station on the 1 line, but West 4th St (A, C, E, B, D and F lines) is just a short walk away. How much? $20 per person....
...Sales at Greencore, which supplies packaged food products to almost every big supermarket chain including Tesco and M&S, have been buoyed by workers returning to offices following the pandemic....
...Now try this Caroline Shaw, one of my favourite living composers, was BBC Radio 3’s Composer of the Week last week, and a delightful guest she was too....
...Aardvark was previously valued at nearly $120mn after its Series B round in 2021, according to PitchBook....
...And yet, in true Brexit style, these charges come at the eleventh hour (they start in just 26 days time, on April 30) after five delays and a flip-flop over whether they’d be needed at all....
...We’re assuming (b) ended up winning there....
...That devotion to the work of Italian violin- and lute-makers can be seen in classic Sonus Faber products such as 1993’s Guarneri Homage....
...chief Fred Goodwin on the fly to see if he’d finance a deal....
...Subscribers rose to a peak of 3.41mn in 2019’s accounts, but this figure was restated as just shy of 2mn in 2020’s accounts, and then as 1.1mn in 2021’s accounts....
...My mother had to go to M&S to try her luck. She was furious. The bottom line is, if you are a regular meat eater you should shop at your local butcher all year round....
...(Interestingly, every Châteauneuf producer I discussed this with when visiting last June claimed to be one of the guys who’d pioneered lower-alcohol wines.)...
...The best way to get pinged new AV content is to add us to “myFT” and set up an email alert, but if you’d prefer a weekly AV round-up — plus some occasional deep cuts — then this should do the trick....
...As its title suggests, this is a novel about the power of food too. Early on in their relationship, Cam bakes biscuits for Kai for breakfast, but he burns them by accident....
...Aged 73, he is creating a network of “multibanks”: food banks for non-food items. While some of Britain’s former leaders are writing silly books for silly cheques, Brown exudes earnestness....
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