Pension sharing became available

first_imgPension sharing became availableOn 1 Dec 2001 in Personnel Today Previous Article Next Article The court’s power to order parties on a divorce to apportionpension right overrides in all pension schemes (occupational and personal).However, schemes which have not yet amended their rules to reflect the changesmust still do so at the earliest opportunity. Enforced under the Welfare Reform& Pensions Act 1999. Related posts:No related photos. Comments are closed. last_img read more

OTM is beating rivals ‘in terms of leads’ claims portal’s City advisor

first_imgOnTheMarket City advisor and sole broker Zeus Capital has given the portal’s announcement that it has signed a deal with UK house building giant Barratt Developments a ringing endorsement, and said the portal generates better quality leads than its rivals.The stockbroking firm also says the portal will soon sign more developers both small and large who are attracted to portals like OTM in slow property markets in order to reduce their marketing costs and yields.Economic reality“Property Developers will make their decisions based on the economic reality,” it says in a briefing note issued yesterday.Zeus Capital also says it believes OTM is beginning to generate more agent engagement with its service and that its Net Promoter Score is on the rise while Rightmove’s is declining as agents become frustrated by its annual rounds of fee hikes.A Net Promoter Score is an index that measures the willingness of customers to recommend a company’s products or services to others. It is used as a way of gauging the customer’s overall satisfaction with a company’s product or service and the customer’s loyalty to the brand.In terms of company value, Zeus Capital also predicts that OnTheMarket will eventually generate £10,000 per estate agent advertiser based on its current 60% market share of UK branches. September 13, 2019Nigel Lewis2 commentsJulian Blackmore, BNE BNE 13th September 2019 at 9:38 amOur leads from OTM are pretty much equal with RM – but at 1/3rd of the price per month. (Hampshire)Log in to ReplyMark Bretherton, Martyn Meade Martyn Meade 13th September 2019 at 9:33 amMatches our experience to be honest. RM still slightly ahead with telephone leads, but behind with email leads. Certainly not far enough ahead with telephone leads to justify nearly 5 times the price…Log in to ReplyWhat’s your opinion? Cancel replyYou must be logged in to post a comment.Please note: This is a site for professional discussion. Comments will carry your full name and company.This site uses Akismet to reduce spam. Learn how your comment data is processed.Related articles Letting agent fined £11,500 over unlicenced rent-to-rent HMO3rd May 2021 BREAKING: Evictions paperwork must now include ‘breathing space’ scheme details30th April 2021 City dwellers most satisfied with where they live30th April 2021 Home » News » OTM is beating rivals ‘in terms of leads’ claims portal’s City advisor previous nextProducts & ServicesOTM is beating rivals ‘in terms of leads’ claims portal’s City advisorZeus Capital also says it expects more developers to sign up after Barratt this week announced it was listing on the portal.Nigel Lewis13th September 20192 Comments1,140 Viewslast_img read more

USNS Seay Assists Distressed Vessel at Sea

first_img View post tag: Naval View post tag: News by topic View post tag: sea Back to overview,Home naval-today USNS Seay Assists Distressed Vessel at Sea View post tag: Assists View post tag: Distressed View post tag: USNS View post tag: Defence View post tag: Seaycenter_img Mariners aboard USNS Seay (T-AKR 302) rendered assistance to a commercial vessel in distress while underway in the Indian Ocean, June 25. Raptor, a 49-foot, Australian-flagged catamaran, radioed Seay, a Navy ship assigned to Diego Garcia-based Maritime Prepositioning Ship Squadron Two, indicating they had five crew members aboard of various nationalities, and that all were in good health and spirits. Raptor’s crew said the vessel experienced trouble with its sails June 20 before its engines failed. Capt. Bruce Kreger, Seay’s civilian master, immediately ordered Seay to change course and render assistance.“The crew of Raptor seemed anxious to effect repairs and get back on their voyage,” said Kreger.After consulting with British Indian Ocean Territory Diego Garcia customs and police, Seay towed the stricken vessel to Diego Garcia.“It took about 20 hours to complete the tow but safety of the vessels was our primary objective,” Kreger said.Approximately three nautical miles from Diego Garcia lagoon, a small craft assigned to Diego Garcia’s port operations met the catamaran and towed it safely to the pier. Raptor is scheduled to undergo repairs at Diego Garcia.Seay is one of 12 Navy ships assigned to MSC’s Maritime Prepositioning Ship Squadron 2, which ensures the readiness of Navy prepositioning ships in the Pacific. These ships carry afloat prepositioned cargo for various U.S. military services. The squadron’s mission is to transport vital equipment and supplies to a designated area of operations in support of combatant commanders worldwide.Military Sealift Command operates approximately 110 noncombatant, U.S. merchant mariner-crewed ships that replenish U.S. Navy ships, conduct specialized missions, strategically preposition combat cargo at sea around the world, and move military cargo and supplies used by deployed U.S. forces and coalition partners.[mappress]Press Release, June 28, 2013 View post tag: vessel Share this article June 28, 2013 View post tag: Navy USNS Seay Assists Distressed Vessel at Sea View post tag: Defenselast_img read more

Indian, Brazilian, South African Navies Show Off Skills

first_img View post tag: skills Indian, Brazilian, South African Navies Show Off Skills Authorities View post tag: Navies View post tag: off View post tag: South African View post tag: Naval View post tag: africa Back to overview,Home naval-today Indian, Brazilian, South African Navies Show Off Skills View post tag: Navy View post tag: show View post tag: News by topic Indian, Brazilian and South African Naval forces put up naval demonstrations for IBSAMAR IV Media Day at South African Navy Training base in Saldanha Bay, SAS Saldanha, on Thursday October 30, 2014.Inside the inner harbour two South African Naval ships, SAS SPIOENKOP and SAS UMHLOTI, were used as platforms while the Indian and Brazilian ships were anchored at the outer harbour area.The VIP/Media day hosted to demonstrate a joint military anti-piracy at sea capability. The demonstration showed how pirates hijacked a ship and Maritime Reaction Squadron members launched a boat from SAS SPIOENKOP and sailed towards SAS UMHLOTI to rescue the ship. When the “pirates” displayed high level of resistance by exchanging fire, the Special Forces also launched their boats and approached SAS UMHLOTI while exchanging fire.The helicopter provided air support fast roping the Special Force down to arrest the pirates. The anti-piracy at sea display demonstrated a high level of readiness and confirmed the capability of joint operations signifying the importance of collective training and operations.The aim of the exercise was to provide collective training for Brazilian, Indian and South African Naval units, build interoperability and mutual understanding between the respective navies.[mappress mapid=”14332″]Press release, Image: South African Navy View post tag: Indian View post tag: Brazilian November 5, 2014 Share this articlelast_img read more

Ocean City Happenings: Unlock the Ocean Memorial Day Weekend, Take the Plunge

first_imgGet ready for summer as Ocean City “unlocks the ocean” Memorial Day weekend. (Photo courtesy City of Ocean City) In a long-standing Ocean City tradition, city officials will turn a ceremonial wooden key to officially “unlock the ocean” for the season at noon Friday, May 24.The free public event provides an early start to Memorial Day Weekend and welcomes a long-awaited summer.The Ocean City Beach Patrol will begin providing guarded beaches on Saturday, and Boardwalk and downtown businesses will be open and ready for the holiday weekend. After a cool and wet spring, the forecast for the weekend looks sunny and warm.The “Unlocking of the Ocean” includes a newer tradition: The march of fully clothed business persons into the chilly Atlantic Ocean for the first swim of the summer (to the strains of the Ocean City High School marching band playing “Pomp and Circumstance.”Everybody is invited to participate in the “Business Persons Plunge.” It’s a chance to get some exposure for your business or organization or just to start Memorial Day Weekend with a splash.Groups and individuals can sign up in advance at Unlocking of the Ocean and the Business Persons Plunge take place on the beach adjacent to the Music Pier.Participants are encouraged to muster at 11:30 a.m.This year’s ceremony will include recognition of a donation from the local Coast Guard Auxiliary of a defibrillator to be housed outside of the Music Pier. Call 609-399-6111 for more information.Retired Ocean City Public Relations Director Mark Soifer officially unlocks the ocean in May 2018.Saturday morning (May 25) brings the Memorial Beach Challenge, a spectacle to behold as athletes complete a 2.5-mile obstacle course that covers much of the beach between Fifth Street and 14th Street.Proceeds from the event benefit The 31 Heroes Project, an organization that specializes in creating programs, financial support systems and future opportunities for service members, veterans and their families.The race begins at 8 a.m. near the Ocean City Music Pier and is followed by a kids fun run. Visit for more information on the races and for registration.Ocean City’s Memorial Day Service starts at 11 a.m. May 27 at the Ocean City Tabernacle (550 Wesley Avenue). All are encouraged to attend. The keynote speaker will be Staff Sergeant Patrick Carney, a U.S. Army veteran of two tours of duty in Iraq. Carney sustained multiple injuries and now advocates for veterans as a Department of Veterans Affairs employee.The National Moment of Remembrance is also set for May 27. Established by Congress, the event asks Americans, wherever they are at 3 p.m. on Memorial Day, to pause in an act of national unity for one minute. Greg Murphy of Buglers Across America will sound Taps from the Ocean City Music Pier to commemorate the moment. The performance will be broadcast on the boardwalk public address system.American Legion Post 524 Adjutant Jack Hagan explains the symbolism of the empty table during the Memorial Day ceremony at the Ocean City Tabernacle in 2018GUARDED BEACHES OPEN FOR THE SEASONThe Ocean City Beach Patrol will guard the following beaches starting Memorial Day Weekend (May 25): St. Charles Place, Brighton Place, 8th Street, 9th Street, 10th Street, 11th Street, 12th Street, 26th Street, 34th Street and 58th Street. OCBP strongly urges bathers to swim only at guarded beaches.Beaches are guarded from 10 a.m. until 5:30 p.m. weekends and holidays and from 10 a.m. until 5 p.m. on weekdays. More beaches will be added throughout the following weeks.Also, a reminder: Seasonal beach tags will be on sale for a discounted $20 only through May 31 (the price goes up to $25 on June 1). Tags are available online at and at eight locations in Ocean City. Follow the same link for details.COMING UP SOONGRACE KELLY TEA (May 29): The Ocean City Historical Museum will host an afternoon high tea at the Flanders Hotel with guest speaker Al Crescenzo making a presentation on Grace Kelly in the movies. Kelly’s family owned a home in Ocean City, and she was a regular visitor. Call 609-399-1801 for tickets and information.Grace Kelly photos fill a section of the Ocean City Historical Museum.OCEAN CITY FLOWER SHOW (May 31 to June 2): See beautiful commercial, amateur and kids displays at the Ocean City Music Pier. Show times are 2 p.m. to 9 p.m. Friday, 10 a.m. to 9 p.m. Saturday, and 10 a.m. to 4 p.m. Sunday. For more information, call 609-399-6111.O’NEILL EAST COAST GROM TOUR SURFING CONTEST (June 1): Youth 17-and-under, 7th Street Beach. 7 a.m. to 5 p.m. Kids will surf for a chance to win prizes from O’Neill, Dragon, Sun Bum and Heritage Surf Shop. www.eastcoastgromtour.comWONDER’S BIRTHDAY BASH AT WONDERLAND PIER (June 6): Free fireworks show following an evening of discounted rides at Wonderland Pier, Sixth Street and Boardwalk. The company is celebrating 90 years of rides on the Ocean City Boardwalk.ARTISANS FAMILY WEEKEND (June 7 to 9): The Artisans Order of Mutual Protection will hold their 74th annual Family Weekend in Ocean City. The highlight of the weekend will be the Miss Artisan Pageant and a show by the Original Hobo Band to be held at the Music Pier on June 8. The Hobo Band will perform at 7 p.m. followed by the Miss Artisan Pageant at 8 p.m. Admission is free.RESTAURANT WEEK (June 7 to 14): Fixed-price specials at participating Ocean City restaurants. Breakfast, lunch, dinner and special treats for the whole family. Visit for list of participating restaurants and specialty shops.The Ocean City Skate Park’s big bowl gives skaters plenty of room to show off their moves. (Photo courtesy Jaime Pustizzi)SKATO WITH KATO (June 7): OC Skate Park, 5th & Asbury Ave. 4 p.m. to 7 p.m. The event is sponsored by the Humane Society of Ocean City. For more information call 609-398-9500 ext. 4 or visit CHASE (June 8): 5K Footrace, 2 Mile Fitness Walk on the Ocean City Boardwalk. Proceeds from the Ocean City Police Chase will benefit the Ocean City Police Benevolent Association who support scholarships for high school seniors, The Christmas toy drive, and distribution of free bike helmets with the funds they raise throughout the year.For more info, call 609-525-9108 or visit read more

In my world

first_imgI often wonder about the differences between success and failure. We are all aware that businesses in every sector are struggling in the current economic climate; some get to the point where they cannot carry on and, sadly, are forced to go into administration.The recent, well-publicised events at Coffee Republic are a good case in point. (At this point I should mention that my former business supplied them from 1998, and I purchased a few shares so I would receive copies of their accounts.)Over the years, Coffee Republic has rapidly expanded, acquired businesses – for example, Good Bean – contracted and finally moved towards a franchise-based operation, increasing its estate again. My 10,000 shares purchased at 8p had been diluted to 166, worth 20p each at the time of their administration. I purchased 800 shares at 40p in Caffè Nero at the same time. When it went private a couple of years ago, shareholders received 250p per share. Caffè Nero has continued to expand and, more importantly, make a good profit.A visit to both chains will show great superficial similarity; they both serve similar-sounding drinks and comparable ranges of sandwiches, paninis and muffins and so on. The difference in their performance is not just down to timing; Coffee Republic was into variably performing franchises and some very high rents. Even now, I am watching some great coffee shops not only opening, but thriving; examples include London coffee shops Flat White ( and Sacred ( Many of the successes in this area now have very strong Antipodean roots. Indeed, the current hot spot for coffee shops is New Zealand – in particular, Wellington.I can think of examples in other bakery-related sectors. Paul has been an enormous national success story, expanding rapidly, but they sell freshly baked bread (albeit from part-baked frozen), cakes and pastries, plus a range of filled baguettes and drinks – does this sound familiar? Le Pain Quotidien ( has a similar range, although more geared to sit down.Ottolenghi (, my current favourite London bakery/deli, is going from strength to strength. I defy anyone to visit one of their shops and not feel inspired to purchase. I loved my lunch yesterday, the strawberry-peach and pistachio tart as dessert. I only eat their muesli for breakfast and will deliver their cakes to mum today – via the gym!If you get the chance, please visit some of the places I have mentioned and ask yourself: ’What are they doing right/wrong?’ and, more importantly, ’What can I do with my business to make sure I remain one of the successes?’last_img read more

The road ahead

first_imgThe humble filling station is not historically known for top bakery cuisine. Not too many years ago, picking up a soggy pasty was about the best the average driver could hope for. But the UK’s fuel retailing industry has been through some pretty major changes recently, and this has resulted in consumers increasingly starting to seek out petrol stations as a destination stop for food including bakery products as either food-to-go or for take-home.One reason for the change is declining profits at the pumps. As fuel sales margins have been squeezed, retailers have been forced to become more inventive with their shop offer. According to IGD’s Convenience Retailing report (May 2010), bakery’s contribution to average sales at UK forecourt stores was 2.9% in 2009, up ever so slightly from 2.8% in 2008. Yet retailers and oil companies alike say the category has plenty of potential.Steady growthRobert Jenkins, food services and chilled category manager at Total UK, says the oil company’s forecourt shops have been seeing steady growth in baked goods. “The growth is coming from hot, savoury food items, and anything related to breakfast meal deals,” he says. “Breakfast baps (bacon etc) have seen an increase in sales of 35-40% in the past 52 weeks. Customers are being tempted by deals more than ever before. In spite of the economic climate, consumers are as hungry as ever, and have no intention of cutting back.”And with major bakery retail names like Greggs expanding into forecourts, the future certainly looks positive. But industry experts warn that the main challenge for suppliers is understanding how the fuel retailing sector works.Firstly, it’s not always obvious who owns which petrol station. Only about a quarter of forecourts today are owned by oil companies. According to figures from Experian Catalist, just over 60% are owned by independents and 14% by hypermarkets. Some retailers own one site, while others own hundreds. Still others are part of a symbol group, such as Spar or Budgens. It can seem a bit complicated, but it’s not impossible to crack.Shell still owns some of its own forecourts and uses its category partners at Foodservice Centre (FSC Group) to look after its bakery lines. Jeremy Simpson, commercial director at FSC Group and also responsible for buying bakery products for Shell’s company-owned sites, says suppliers must research the forecourt sector thoroughly and understand how it operates. It’s also important to learn about the business of each retailer before approaching them sites have differing consumer needs depending on location and customer demographic.Simpson explains: “In the dealer channel, the oil companies have little to do with the shops. With fuel margins being low, more retailers are working with symbol groups, such as Spar and Mace, to enhance their shop offer, so there is an opportunity for bakery suppliers to get their products into the symbol group shops by teaming up with wholesalers. It’s a good way to get into that channel.”He advises suppliers to approach wholesalers directly with products, adding: “If the wholesaler likes them, they might list and promote them and the supplier invoices through the wholesaler. The wholesaler might expect a discount on the product, but because the supplier invoices through the wholesaler, it removes the need for a large credit control department.”That’s a far better route than going out and pitching to individual retailers, which can be time-consuming. Teaming up with a wholesaler can seem expensive, but the wholesaler will really push your products if they like them through their annual trade shows etc. It’s quite a popular route with suppliers, and is becoming increasingly popular.”Direct approachAs far as the sites owned by the oil companies are concerned, Simpson says it’s better to approach the company directly through head office and arrange a meeting with a buyer. About 60% of Shell’s estate is franchise-operated. FSC Group either stocks a brand or uses its own brand, Deli2go. Simpson adds that, at transient sites, such as those owned by Shell, customers often have a different mind-set to those visiting their local petrol station for a loaf of bread. His advice is: “Don’t expect to take your existing product and sell it to the forecourt market. It’s a very different market to the high street and the consumer has a different mind-set. They are often feeling negative in a petrol station usually over the price of the fuel they’ve just bought! and often just want to get home. They’re usually also short of time.”Understanding case size and packaging is also very important. It’s pointless to approach a site that only sells five pasties a day with a case of 50 fresh pasties. And when designing packaging, remember that the consumer will probably need to eat the product in their car.”Give thought to the operation, supply and consumer need-state,” he adds. “If you’ve thought that through, not only will you sell more product, but you’ll impress the buyer with your presentation. That’s what will help clinch the deal.”Sausage rolls are the biggest seller by a long way, he says, followed by savoury slices and pasties. Danish pastries are quite popular, but products like muffins and donuts don’t do so well at Shell’s bigger, high-volume outlets.The company has four suppliers for its savoury pastry range, including Crantock Bakery in Cornwall for pasties and Pieminister for sausage rolls. Simpson adds: “In the main, it’s still mostly impulse buys at busy main route forecourts.”Over at Total, it’s a slightly different story. Jenkins says freshly baked bread is very popular and the more variety the better.He adds: “Price seems to be less of an issue for consumers, with bread baked on-premise commanding a higher price than well-known plant bread. Large French baguettes are our biggest-selling line; these have grown by 12-15% over the past 52 weeks.”Breakfast goods, such as crumpets, muffins and teacakes are still a relatively small part of our business, but have huge potential for development. We are restricted on our ability to grow this category due to short shelf-life, and most products falling into 48-hour lines. Breakfast goods must be ordered in advance, since warehouse availability cannot be guaranteed. This kind of forecasting is a risky business, which requires relatively high store turnover.”He advises bakers to look at supplying locally-sourced products, explaining: “We are currently selling baked products from a well-known village bakery across two of our service stations. Early results are very encouraging: customers want to support their local bakers. Results from the two-site trial suggest that fresh cream cakes and muffins are favourites among customers.”Brian Madderson, chairman of RMI Petrol, which represents 6,000 independent forecourts in the UK, agrees there’s a market for locally baked products. And while it’s usually best for bigger suppliers to go through wholesalers, smaller bakery suppliers should approach retailers directly.Madderson explains: “For smaller bakers, there’s a big and growing demand for local speciality breads and bakery products. Some independents, even though they may have a symbol brand store, still like to sell local produce. These are usually homemade items, or maybe speciality loaves something different, not just your average sliced white loaf. Snacks that can be eaten on the go, such as Danish pastries, are also very popular.”The local baker also needs to make sure that the presentation of their products is right, or at least that the local retailer is prepared to present their products in a manner that is attractive for example in bread baskets.” Madderson advises smaller bakers to look for retailers who already sell other local produce, such as fruit and veg or meat, and approach them directly.Big in bake-offMeanwhile, bake-off is big in many forecourts, with companies like Country Choice and Cuisine de France the main suppliers. Sunil Tandon runs Croydon-based Park Garage Group, one of the biggest independent fuel retailer groups in the UK with 96 sites. He says about 60% of sites have a bake-off facility, all with Country Choice.”Country Choice has a huge range, but it’s the traditional products that are still the most popular sausage rolls, steak and kidney pies etc,” he says. “If you get bake-off wrong, it can cost a lot in labour, plus there’s also wastage to consider. But the margins are quite good if you get it right.”FSC Group has been working with Shell to put bake-off in 50 stores under its existing Deli2go brand. Simpson says: “There are opportunities; just make a call to head office and explain what product you’ve got. We have agreements in place, but we’re always interested in having discussions with potential new suppliers.”Simon Lawrence runs independent group Lawrences Garages (London), and sources speciality breads for one of its five sites from a local bakery in Norwich. He explains: “The bakery supplies us with artisan breads ciabatta, stone-baked but this is very much for a forecourt with local, regular customers. There’s not a huge demand for these types of products, but there’s enough. We also stock the well-known bread brands. We rely on Country Choice for pretty much all our other bakery products. We get our freeze-and-bake products from them sausage rolls are still the best seller.”Pack sizes are very important. Anis Patel is director of Bolton-based Aleef Garages, another of the UK’s biggest independent retailers. He says smaller pack sizes tend to sell better for example, a pack of six rather than 12 snacking items, such as muffins. The company tends to use wholesalers rather than dealing with bakery suppliers directly. Its biggest gripe concerns being able to get enough product without being penalised for minimum orders along with the ability to return unsold bakery goods. Patel adds: “Bread is very low-margin but it is a must-have item. The opportunity is there for small local suppliers, but branded goods do sell. We use a company called Bobby’s Foods for all our snacking lines, such as muffins, cakes and teacakes.”Over at BP, spokesman Mark Salt says snacking trends are moving towards “indulgent American-style confectionery”, such as muffins, donuts, cookies and whoopie pies. The oil company, which has about 250 company-owned sites and sells bakery products via its Wild Bean Café brand, advises bakery manufacturers and brands to “modify and tailor solutions relevant to format and customer type”, but adds that it offers no opportunities for small suppliers.According to James Hall, controller of Bestway symbol group Best-one, suppliers need to research the market and find a point of difference. He advises: “It’s best to make an appointment and take in a range of goods that you can easily produce. Have a look at what type of customer uses the forecourt builders, people on the way to work and put together an appropriate selection of the actual goods and let the person try them. Make the range interesting and a bit special.” Country Choice’s top 10 bakery products in UK forecourts l Extra Large White Baguettel Small White Baguettel White Organic Loafl Small Harvest Grain Baguettel Batched White Crusty Rollsl All Butter Croissant (Curved)l Pain Au Chocolatl Maple Pecan Plaitl Decorated Ring Doughnutsl Yum YumsSource: Country Choice marketing controller Stephen Cliffordlast_img read more

Consumers more wary about the food they eat

first_imgA large number of consumers have trust issues when it comes to food, the latest report from Mintel has revealed.In its Consumer Trust in Food 2013 study, it found that six months on from the horsemeat scandal, British consumers were still pretty sceptical about the efficiency of the British food industry.Only just under half (49%) said they trusted the food industry to provide safe food to eat, while 37% were undecided.Forty-two per cent of Brits believe the food industry is able to effectively react to food scares such as BSE and horsemeat, and only 23% feel that the different elements of the supply chain work effectively together.According to Mintel, the concerns regarding the trustworthiness of food were strongly related to fact they felt the industry had a lack of awareness of its own supply chains, with 34% stating they felt food manufacturers weren’t aware of where their ingredients originated from.Alex Beckett, senior food analyst at Mintel, said the food industry had a big job on its hands to regain consumer trust.“That food should not be harmful should be one of the most basic of consumer expectations, yet only half of adults feel the UK food industry provides food that is safe to eat, signalling a widespread breakdown of trust in the agri-food chain, and suggesting the need for more active communications and greater transparency towards consumers.”He added that grocers and manufacturers have typically not drawn attention to suppliers of own-brand products, “but providing these details on-pack could help to support consumer trust in the grocers’ sourcing”.The report also revealed that the top five factors which would encourage consumer trust in food were: British ingredients; manufacturing details on food labelling (where and when made); animal welfare certificate; product origin on the pack; and no artificial ingredients.last_img read more

Acquisition bid for Ministry of Cake owner

first_imgPrivate equity firm IK Investment Partners, which has interests in a host of food businesses across Europe, is aiming to acquire Mademoiselle Desserts.The French frozen desserts and pastry business has manufacturing sites in France and The Netherlands and, in January 2017, acquired UK baked goods supplier Ministry of Cake. It operates nine production sites and employs around 1,300 staff.IK Investment Partners (IK) announced today (4 May) that it has entered into exclusive negotiations with Equistone Partners Europe, Céréa Partenaire, Azulis Capital and the management team to acquire a majority stake in Mademoiselle Desserts. The management team will reinvest alongside the IK fund.IK has previously invested in European businesses including Linxis Group, Salad Signature, Cérélia Group, Løgismose Meyers and Solina Group.“IK’s unrivalled experience in investing in European food businesses makes them an ideal partner,” said Didier Boudy, CEO of Mademoiselle Desserts, which was established in 1984.“With their support, Mademoiselle Desserts will be well positioned to capture market share and continue its active build-up strategy, for which we were actively backed by Equistone over these last years.”IK Investment partner Rémi Buttiaux said the deal would fit IK’s investment strategy.“We are impressed by the group’s development in the UK, France and the Netherlands. Together with the management team, we will strive to broaden the product portfolio via targeted acquisition opportunities.”last_img read more