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Full coverage: Food

“The worst point in time to sell the company”: Aryzta’s new chair halts McGann’s buy-out plan

All Irish board members have left the board of the frozen baked goods group following an EGM that saw dissident shareholders put an end to Gary McGann’s chairmanship of the company this Wednesday.

Thomas Hubert
16th Sep, 2020 - 3 min read

Endgame? The inside story of Aryzta and the “world’s most feared investor”

The Swiss-Irish baked goods multinational is now in takeover negotiations with Elliott Management, a $41 billion New York investment firm. How does this play into today's EGM called by disgruntled shareholders, where Chairman Gary McGann's chosen successor has just withdrawn his candidacy?

Thomas Hubert
16th Sep, 2020 - 10 min read

Growing sales by 20% during lockdown: “There is a consumer for whom food has become a topic of conversation”

Dairy food manufacturer Glenisk is expanding to double production. From a site with no electricity, Vincent Cleary has grown the family business to the forefront of Ireland’s organic industry – despite the disdain he says he has faced from official Ireland.

Ruth O'Connor
4th Sep, 2020 - 7 min read

From landing the first container to growing a €1bn export market: how to make China work for Irish food businesses?

After hosting a discussion with Glanbia, Bord Bia and UCD, ifac Accountant’s Lorcan Bannon shows where opportunities lie for Irish food businesses in China – and how to seize them.

Lorcan Bannon
1st Sep, 2020 - 6 min read

The battle for the control of Aryzta: Can McGann pull off a sale?

An EGM requested in May by disgruntled shareholders of the global bakery manufacturer will not take place until mid-September. If Aryzta can be sold, its chairman Gary McGann, an experienced boardroom veteran, has given himself as much time as he could to make the deal and exit with his head high – if not, he has promised to bow out.

Thomas Hubert
21st Jul, 2020 - 5 min read

A €600m question: Can Aryzta find a new format to grow cash instead of debt?

Activist shareholders intent on taking over the Swiss-Irish food company’s board have strong candidates and a pessimistic reading of its accounts. Can they bring other investors along?

Thomas Hubert
3rd Jul, 2020 - 6 min read

Vernon Catering exits examinership with Cox family rescue

A High Court judge has approved a plan combining creditor haircuts and investment by Thurles Wholesale Cash and Carry, the company owned by the Kildare-based Cox family of grocery wholesalers.

Tom Lyons
4th Jun, 2020 - 2 min read

Aryzta activist targeting McGann’s chairmanship: “It’s not about the people, it’s all about the business”

Gregor Greber, co-founder of Swiss investment firm Veraison, speaks exclusively to The Currency as he joins forces with disgruntled shareholders to remove all Irish directors from Aryzta’s board.

Thomas Hubert
21st May, 2020 - 3 min read

No bread today: Restaurant crisis ends Le Pain Quotidien’s brief Irish adventure

The bakery chain is exiting Ireland amid international turbulence in its Belgian-owned parent group, but its failure is also a sign of difficulties mounting in Ireland's wider restaurant industry.

Cait Caden
21st May, 2020 - 3 min read

Can Ireland’s dairy industry weather the pandemic?

Butter prices are down, farmers are getting less for their milk and cheese stocks are going into cold stores. But unlike other sectors, Ireland’s dairy industry is working as one and its businesses entered the crisis with strong balance sheets.

Thomas Hubert
18th May, 2020 - 8 min read
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