Source: HovisItalian firm Newlat Food has launched a bid to buy Hovis for an undisclosed price.In a statement on its website, Newlat said it had made a non-binding offer to the shareholders of Hovis Holdings Ltd.It described Hovis as a brand with great tradition and recognisability in the UK and added that Hovis’ production and distribution structure would offer it the possibility of benefiting from many synergies and to implement a “virtuous cross-selling activity”.“Newlat Food is awaiting a reply from the shareholders of Hovis and, therefore, any other eventual details regarding the transaction will be communicated with the evolution of the negotiation,” the company said.Hovis is currently owned by Premier Foods, which has a 49% stake in the firm, and US investment firm The Gores Group, which has a 51% stake. It employs 2,800 people in eight bakeries, one flour mill and three distribution centres in the UK.Back in 2018, Hovis refocused to prioritise its core baking business, disposing of three mills in the process. The move followed a strategic review undertaken by the company to identify the best way forward in an “economically challenging environment within a highly competitive market”.In its full accounts for the year ended 31 December 2019, published last week (28 September 2020), Hovis said the market for bread and bakery remains highly competitive with sales margins under pressure due to continuing broader changes in the grocery sector.Revenue was down slightly from £336m in 2018 to £333.8m in 2019, although gross profit had improved from £93.1m to £97.1m during this period.It added that Covid-19 had created ‘considerable uncertainty’ for many businesses and, while it was not practicable to measure the result of the crisis, it did not expect to be negatively impacted.“The business has seen an increase in demand for its products, along with unforeseen costs, and is working closely with customers to balance this demand against the available capacity within its supply chain footprint,” it stated.
View Comments James Earl Jones Show Closed This production ended its run on Feb. 22, 2015 You Can’t Take It With You Related Shows Angela Lansbury Two surprise guests arrived for dinner on October 7! Before reprising her role in Blithe Spirit on tour, Angela Lansbury stopped by to see her pal and former The Best Man and Driving Miss Daisy co-star James Earl Jones in You Can’t Take It With You on Broadway. She brought along Stacy Keach, who is gearing up to star in Love Letters on Broadway beginning December 6. Keach and Jones also have a connection—they starred in the 1970 film End of the Road together. Lansbury also snapped a photo with You Can’t Take It With You’s Elizabeth Ashley (below), who, like Lansbury also played Mrs. Sue-Ellen Gamage in The Best Man on Broadway. See Jones and Ashley in You Can’t Take It With You at the Longacre Theatre! Star Files
On Friday, December 22, at the press conference held in Zagreb, in the Croatian House “Mother’s Story”, the 1st Festival of Intangible Cultural Heritage, Tourist Events, Attractions and Destinations “ALL TOGETHER CROATIA BEST “Which will be held in Vukovar, from 3 to 6 May 2018.The festival was presented in anticipation of the beginning of the new year, 2018, which is also the European Year of Cultural Heritage, and its uniqueness is that it is the first Croatian festival to present protected Croatian intangible cultural heritage located on the national and UNESCO. list, with the most attractive tourist events, attractions and destinations from all over Croatia.”We are especially glad that our Vukovar will host this, the 1st Festival of Intangible Cultural Heritage, tourist events, attractions and destinations. Vukovar-Srijem County is the national winner of the European Destination of Excellence with the project Vukovar – Vučedol – Ilok, and with the fact that our city and county is especially rich in tourist facilities, we are pleased to host our colleagues, tourism workers and many guests from all over. parts of Croatia. With this project we confirm that Vukovar is a city of togetherness, positive energy and with this message we start preparing for the festivaland “, said Rujana Bušić Srpak, director of the Vukovar-Srijem County Tourist Board, at the presentation. Representatives of the City of Vukovar and Vukovar-Srijem County agreed that this festival is of great value for the city of Vukovar, which will become a real tourist center from 3 to 6 May 2018, and the number of events that apply for presentation within the 1st Festival intangible cultural heritage, tourist events, attractions and destinations “ALL TOGETHER CROATIA BEST”, is growing day by day.Zvonimir’s Days, Knin, International Lace Festival, Pag, Krk Fair from Krk, Porcijunkulovo, Čakovec, Kupske noći, Sisak, Dalmatian Klapa Festival, Omiš, Ogulin Fairy Tale Festival, Ogulin, Thrill blues Festival, Trilj, Kaj will be presented in Vukovar. our ancestors, Vrbovec, Đakovo embroideries and many other events ate, and the participation of Croatian events from the diaspora was announced.