Vision Capital and Premier Foods have been tipped as potential buyers for debt-ridden cake company Inter Link, which this week suspended trading of its shares.Inter Link, which has 12 UK bakeries and one in Poland, has seen a rapid decline over the last year with shares dropping from 770p to a low of 72.5p in March.Its share price was 106p, valuing the company at £12.5 million when trading was suspended on Tuesday, following the decision by potential Irish buyer McCambridge to withdraw an offer. Under the rules of the Alternative Investment Market, Inter Link can suspend trading for up to six months, or longer if it is granted an extension.Chairman Jeremy Hamer said Inter Link was making progress towards a “long-term solution” to its £63m bank debt. He said that a number of bidders had made offers for Inter Link, but below the £63m level. He was also expecting McCambridge to come back with a revised bid.Hamer explained that McCambridge had made an offer for the company based on the condition that its banker, Barclays, wrote off some of its debt. However, it was not acceptable to the bank that shareholders profit from the deal while it lost out. McCambridge then withdrew its offer.Hamer commented: “This is a huge disappointment in terms of relations with our shareholders. It is a bad day for them; we are saying there is no value in the company for them. But we are optimistic that this is the way to a long-term solution, which reduces our borrowing.”Business was continuing to improve, he said, with customers, suppliers and staff remaining supportive. “We need a solution to the debt problem – an offer that is enough for the bank to say yes to.”Inter Link said in a statement that the bank continued to support its trading requirements while sale opportunities were explored. It said it met its sales budget in May.Analyst Andy Blain of Shore Capital commented: “A few organisations will have run a slide rule over Inter Link during the last few months. Possible buyers might include Premier Foods, which owns Mr Kipling, although it is still busy intergrating RHM. Vision Capital, which bought Park Cakes from Northern Foods, might also be interested in another specialist cakes company, as might McCambridge as well as private companies.”There was a lot of retailer support behind Inter Link, he added: “When you think how many mince pies it makes – 100 million a year – if it went under, we would have no mince pies at Christmas.”
Irwins bakery is sponsoring Gaelic football tournament St Gall’s May Day Invitational on May 5.The competition will see schoolchildren from Louth joining together with other counties to play in the 10-a-side tournament at St Gall’s GAC, Milltown in Northern Ireland.The event, which is in its 18th year, will involve 350 children from across Antrim, Down, Armagh, Derry and Louth.Pictured are members of the Juvenile Gaelic football team at St Gall’s celebrating the sponsorship with a loaf of Nutty Krust.
Marks & Spencer sandwich supplier Uniq said the growth of its sandwich division slowed significantly in the third quarter of the financial year. The European chilled convenience food group said growth in UK sandwich sales dropped from 13.1% in the first half to 2.1% in the third quarter.In a trading update, Uniq said worsening economic conditions are “affecting the mix of sales towards lower added-value products and channels, and towards price discounted products. This has led to a disappointing margin performance”. The company said that, despite the pressures, it expected to deliver a trading profit in the second half “albeit at a much lower level than last year, and still dependent on Christmas”.Overall, Uniq’s sales grew by 1.7% in quarter three, a small improvement on the 0.5% growth in the first half.
Alleggra Foods has launched a premium-style crème cake mix for retail and craft bakers.The crème cake mix, in plain and chocolate varieties, provides a moist-eating versatile cake base. The same mix can be used to create loaf cakes, unit cakes, cupcakes, muffins, sheet lines and tray-bakes. The plain batter can be used to create a range of cakes including carrot, farmhouse, lemon, ginger, date and walnut, cherry and almond, chocolate chip and plain and chocolate.The mixes include the egg functionality as well, making handling easier and cheaper. Simply add oil and water. Alleggra’s crème cake mixes are available through BFP Wholesale and selected wholesalers. www.alleggra.com
Are you a plant baker with a green conscience? Do you ever worry about what happens to all those plastic bread bags used to sell your loaves in the supermarkets? Are yours recyclable, for example? Or do they go straight to landfill?Well, Stop the Week has come across a nifty idea from Malaysia, that might just catch on: why not recycle used plastic bread bags by weaving yourself a basket! And not only that… bread bags make the basket nice and soft – ideal for delicate shopping items such as eggs. Okay, so you do need a couple of other items, such as a few stakes and possibly a base to weave the bags around, but just look at the colourful result you can achieve. Hey, when it come to linking recycling with bread bags and shopping, you can rely on STW to come up with a snappy solution!
Biscut brand Fox’s has said it will add value to the seasonal biscuit category with the launch of two Christmas selection boxes Fox’s Wonders and Fox’s Fabulously Special.Rachel Moffatt, Fox’s brand sector director, said: “Fox’s is the number one seasonal biscuit manufacturer in the UK, with a 32% market share. We play a key role in the category, proven by last year’s Christmas performance, when we drove 22% growth in value in a flat market.” All figures are from AC Nielsen.Fox’s Wonders is being supported by a six-figure PR campaign, including a series of Christmas radio promotions on commercial stations, while a consumer campaign aims to raise awareness of both products through lifestyle publications.Fox’s Fabulously Special 800g tin: RRP £9.99; Fox’s Wonders 400g tin: RRP £7.99www.foxs-biscuits.co.uk
Starbucks sales climbStarbucks UK has reported that comparable store sales have increased 5% in its second-quarter results to 28 March 2010. The coffee chain has also struck a deal to bring its VIA Ready Brew Coffee to air travellers on Thomas Cook Airlines from the beginning of this month.International focusInternational bakery group Lantmännen Unibake has said it will focus its future investments in Europe and North America. However, this decision does not mean it will be leaving the Asian market, it added. The firm is also making a major investment in a new bakery line in Denmark, which is expected to start production of Lantmännen Unibake’s breakfast assortment by spring 2011.Castle contractFood-led coffee shop business Benugo has landed a contract to provide hospitality services at Edinburgh Castle. The Castle now offers two relaunched dining venues: an assisted service café and a more formal restaurant. Founders Ben and Hugo Warner’s other notable sites include The Restaurant at the Natural History Museum, the Ashmolean Dining Room (Ashmolean Museum), the Serpentine Bar & Kitchen (Hyde Park Royal Parks) and the V&A Café (Victoria and Albert Museum).Vitamin D additionHealth officials in Jordan, have said they hope Jordanians will get a much-needed boost of Vitamin D, by eating bread made with fortified flour, reported middle-east-online.com. The country plans to fortify its domestic flour with Vitamin D this month, following research that revealed over 70% of the country’s women, aged 25 and over, suffered from Vitamin D deficiency.
“I noticed a downturn in baking some years ago and came up with the idea of a Christmas cake packet of ingredients. People were having to buy ingredients and only needed a tablespoon for example, so they were wasting a lot of what they bought. The cake I started to sell only needs a twist of orange and lemon, plus an egg, and it’s easy to bake yourself. It seems strange Delia Smith is now doing her own version!”Delia Smith follows in the footsteps of Rushden shopkeeper Moira Lovell’s Christmas cake in a pack for £6.49, as the TV cook makes waves in the press for ditching her popular Christmas Cake recipe by launching a ’cake in a packet’
Coffee shop sat-navCoffee Nation has launched a sat-nav tool to help drivers locate their nearest outlet while on the move. Using either TomTom or Garmin technology, consumers can simply download a file from the Coffee Nation website, which maps out more than 800 of its sites across the UK. The firm is also developing an iPhone app to increase customer engagement, which it hopes to launch in early March.Free-from additionsSainsbury’s has added a range of fresh breads to its free-from line. The white and multi-seeded brown bread and rolls, suitable for coeliacs, are made with ingredients such as tapioca.Renshaw sales upStrong pre-Christmas sales negated the effects of severe winter weather on the Real Good Food Company’s profits to 31 December 2010. The firm said its bakery ingredients business Renshaw, produced its best-ever performance in 2010, with growing exports and the rising popularity of home baking being the key drivers of growth.UB hits waste targetsUnited Biscuits claims that four of its 14 UK sites have hit its zero-waste-to-landfill target. The snacks supplier achieved the target by maximising its recycling efforts, reducing the amount of waste being brought into the business and having any residual waste incinerated to create energy.
WhatsApp IndianaLocalNews Previous articleUS 31 Bypass project coming WednesdayNext articleDowagiac Police seeking man accused of possessing child pornography Jon ZimneyJon Zimney is the News and Programming Director for News/Talk 95.3 Michiana’s News Channel and host of the Fries With That podcast. Follow him on Twitter @jzimney. Facebook Facebook Pinterest Twitter Google+ Google+ Pinterest (Photo supplied/Indiana State Police) A South Bend man was arrested after an Indiana State Police K9 sniffed out approximately 30 pounds of marijuana during a traffic stop on Logan Street.Around 11:30 p.m. on Thursday, March 4, an Indiana State Police K9 handler with the Bremen Post stopped a white 2018 Kia on Logan Street, just south of McKinley Avenue, after observing the driver commit several traffic violations.During the traffic stop Indiana State Police K9, Nala, conducted a free-air sniff of the Kia and alerted to the odor of narcotics. A subsequent search of the Kia resulted in the trooper discovering approximately 30 pounds of suspected marijuana in vacuum sealed packages.The front seat passenger in the Kia, Anthony Garcia, 27, was preliminarily arrested for Possession of Marijuana and Dealing Marijuana.Garcia was taken to the St. Joseph County Jail. WhatsApp By Jon Zimney – March 5, 2021 2 477 South Bend man arrested after K9 sniffs out 30 pounds of marijuana Twitter