Supermarket chain Tesco has agreed to sell its Euphorium Bakery business to coffee shop chain Soho Coffee for an undisclosed sum.
Soho Coffee will buy four high street Euphorium stores and the Islington factory, while Samworth Brothers – a Tesco supplier – will buy the Weybridge factory.
Tesco said on Friday that it will run the Euphorium Bakery franchises in its stores and staff will be given the opportunity to transfer to the supermarket.
This is the latest in a series of sales by the retailer, which sold Dobbies Garden Centres to a group of investors led by buyout firms Midlothian Capital and Hattington Capital for £217m in cash back in June.
It also recently sold restaurant chain Giraffe to the owner of Harry Ramsden’s restaurants and The Cinnamon Club and disposed of artisan-style coffee shop chain Harris + Hoole to Caffe Nero.
At 1545 BST, Tesco shares were up 0.3% to 164.50p.
By Michele Maatouk
Source: Digital Look
Consumer healthcare firm Haleon has appointed Tate & Lyle executive Dawn Allen as its new chief financial officer, effective 1 November 2024. Allen will succeed Tobias Hestler, who has decided to step down from the role, citing a long-term health condition, the company said.
The group said that the bottling line, which adds 6,500 square metres to the existing 60,700-square-metre site, is the next necessary stage in the company’s international development. The leading brand in Campari Group’s global sales, demand for the Italian bitter apéritif has grown by 500% in the last decade.
The partnership will see Coca-Cola adopt new technology to foster innovation and productivity globally. Through the deal, Coca-Cola has made a $1.1 billion commitment to the Microsoft Cloud and its generative AI capabilities.