General Mills has on Tuesday announced that it has completed the acquisition of Edgard & Cooper, one of Europe’s leading independent premium pet food brands.
The American food giant said the transaction further advances its Accelerate strategy, including the prioritisation of its core markets, global platforms and local gem brands to drive sustainable, profitable growth and top-tier shareholder returns over the long term.
“Edgard & Cooper is at the intersection of our Accelerate strategy's core markets and global platforms,” said Jon Nudi, group president, Pet, International and North America Foodservice, General Mills. “We’re thrilled to welcome the Edgard & Cooper team to the General Mills family, and we look forward to partnering together to advance their mission to revolutionize premium, natural pet food.”
Established in 2016, Edgard & Cooper is one of the fastest-growing independent pet food companies in Europe, with estimated 2023 retail sales of more than €100 million (£85.5m) across 13 markets. Headquartered in Kortrijk, Belgium, Edgard & Cooper will be a separate operating unit led by its three founders, Koen Bostoen, Louis Chalabi and Jürgen Degrande, with its financial results consolidated into General Mills’ International segment.
“We’re excited to join Team General Mills and continue doing what Edgard & Cooper is passionate about — making better dog and cat food with real ingredients that pets love and pet owners feel good about,” Bostoen said." Combining our brand’s natural positioning and commercial capabilities with General Mills’ marketing and supply chain expertise, we’re ready to accelerate Edgard & Cooper’s growth.”
General Mills acquired the business from The Craftory, a $550m (£439m) global consumer venture capital fund focused exclusively on responsible consumer packaged goods.
The London and San Francisco-based investment house, which led Edgard & Cooper’s $26m Series B and $22m Series C fundraising rounds, said the exit proves that their unique “sustainable capitalist approach” works in even the most challenging environments.
“Edgard & Cooper’s journey is the perfect substantiation of The Craftory’s belief in the power of brands, cause-driven business culture and exceptional founders,” Elio Leoni Sceti, co-founder and chief crafter at The Craftory, commented.
“Koen, Louis and Jurgen combine vision, energy and determination with a focus on excellent execution. They’ve been a perfect fit for The Craftory’s operating model – partnering and working closely with the brands we invest in – which has supported Edgard & Cooper’s move to profitability and the significant growth of its sales.
“We are thrilled that these results, and the strength of the business, have attracted General Mills and wish all the best for Koen, Louis, Jürgen and the whole Edgard & Cooper team in their next, no doubt successful, chapter.”
General Mills said it will fund the acquisition with cash on hand.
Convenience store body has expressed concern over licensing scheme for retailers to sell tobacco, vape and nicotine products in England, Wales and Northern Ireland under Tobacco and Vapes Bill introduced in the Parliament today (5), saying that the licensing scheme has been outlined without any consultation with the retailers who will be most affected by it.
The Bill confirms the Government’s intention to create a "smoke free generation" by phasing out the sale of tobacco products to anyone currently aged 15 or younger. The generational ban will come into force in 2027, meaning that there will be a single date that retailers have to reference for age restricted sales on tobacco – rather than checking if a customer is over the age of 18.
The Bill will also include powers to introduce a licensing scheme for retailers to sell tobacco, vape and nicotine products in England, Wales and Northern Ireland, and will introduce on the spot fines of £200 to retailers found to be selling these products to people underage. The licensing scheme, which has been outlined without any consultation with the retailers that will be most affected by it, includes the potential to limit the number of businesses in an area based on their proximity to other retailers in the area as well as other conditions determined by local authorities.
ACS chief executive James Lowman said, “A licensing scheme has the potential to help tackle the illicit market and punish those who sell to children, but unless properly structured it could also prevent legitimate traders from operating based on the presence of other outlets in the area, or the specifics of where that store is located. This requires detailed consultation with local shops and other stakeholders, and none of this has taken place. We now need proper discussion of the detail as regulations are drafted, or we fear that this legislation will significantly impact investment, growth and service provision in our sector.”
Other measures in the Bill include a ban on vape advertising and sponsorship, as well as powers to restrict the flavours, display and packaging of all types of vapes, as well as other nicotine products.
The Bill follows confirmation last month that the Government is planning to go ahead with a ban on disposable vaping products, which will come into force on June 1st 2025.
Lowman continued: “The Tobacco and Vapes Bill will require retailers to make significant changes in their businesses, both on age restricted sales processes and the way that their stores are stocked and managed. It is essential that the Government provides retailers with clear guidance on the rules, and communicates the changes not just with retailers, but with the public as well.
“The introduction of £200 fines to act as a deterrent for retailers selling products to underage customers is welcome, but we are concerned that there is not enough enforcement right now to deal with the rogue operators in the tobacco and vaping market. Trading Standards need significantly more funding to be able to make a difference through targeted local enforcement, not just against those selling to young people, but also those who sell illicit products.”
Associated British Foods (ABF), the owner of retail-chain Primark, today (5) issued a buoyant trading update for the 16 weeks up to 6 January.
The group's grocery arm clocked in a revenue of £1,414 million for the period, with ingredients coming in at £698 million. Revenue from agriculture for the same 16 weeks raked in £572 million while sugar added its own sweetness to the figures with a revenue of £825 million.
The group's grocery unit’s sales grew 4 per cent, reflecting “good demand” across a number of its international brands and regionally-focused businesses. Its international brand businesses, which include Twinings, Ovaltine, Blue Dragon, Patak’s, Jordans and Mazzetti, accounted for approximately a third of total grocery sales.
Twinings saw “strong” sales momentum led by volume growth across its largest markets, the UK, US and France. The group noted that this reflected increased distribution, particularly in the US, strong commercial execution to strengthen in-store visibility and a significant increase in investment and focus on marketing.
Growth also benefitted from recent product launches, as ABF continued to expand its presence in the wellness category, including a growing portfolio of herbal and infusion teas.
Meanwhile, its UK-focused businesses, which accounted for approximately a quarter of grocery sales, also performed relatively well.
Allied Bakeries had a “much-reduced” operating loss compared to 2023 as a result of improved sales and operational performance. Silver Spoon delivered “strong” growth, benefitting from lower pricing and a brand refresh. The group’s Ryvita brand also made good progress, supported by recent product launches and advertising.
Adjusted operating profit margin for the Grocery segment improved to 12.1 per cent overall, driving adjusted operating profit up 17 per cent to £511m. ABF noted that the margin improvement reflected an easing in input cost pressures, strong performance in its US-focused businesses, and reduced losses in Allied Bakeries, partially offset by an increase in marketing investment.
The grocery arm was boosted easing input costs, increased investment in marketing, and new product launches. Retail, however, surpassed all the other departments by taking a whopping £3,376 million in revenue. Primark saw sales inching up 7.9 per cent in the 16 weeks, with the retail chain increasing its market share to a new high of 7.1 per cent in the 12 weeks leading up to 10 December.
Looking ahead, ABF said: "We continue to look forward to a year of meaningful progress in both profitability and cash generation, with the profitability improvement being driven by a recovery in Primark margin, a marked improvement in British Sugar profitability, and by reduced losses at Vivergo.
"We also feel more confident in the delivery of the Primark adjusted operating margin in this financial year, driven by a further improvement in product gross margin. This should insulate us well against potential additional costs of supply due to the disruption in the Red Sea, should they arise."
A generational smoking ban, as proposed in Labour’s updated Tobacco and Vapes Bill, would spell chaos for small businesses and retailers, according to JTI.
A generational smoking ban aims to gradually end the sale of tobacco products across the UK by increasing the legal age of sale by one year. This means individuals born on or after 1 January 2009 will never be able to legally be sold tobacco products.
The burden of enforcing a generational ban will fall squarely on retailers, and disproportionately on smaller, independent retailers. Recent British Retail Consortium data revealed 1,300 instances of shop workers being verbally or physically assaulted every day in 2024, with a significant proportion of these attacks following a request for age verification.
The proposed generational ban and subsequent increase in ID checks will put retail workers at even greater risk, particularly in small and independent businesses that have no security staff or additional protections. The physical and mental impact on victims is estimated to cost UK retailers £3.3 billion annually – further highlighting the inconsistent approach from a Government that has just announced, as part of Chancellor Rachel Reeves’s budget, to "stop shoplifting in its tracks", removing legislation which means thefts worth less than £200 are subject to less serious punishments and promising more funding to crack down on organised crime gangs.
JTI is urging the Government to focus on evidence-based, effective solutions, and implement a minimum age of sale of 21 instead.
Government modelling shows that raising the minimum age of sale to 21 could achieve an equivalent fall in youth smoking as a generational ban, when “The majority of smokers start before the age of 20” according to the Government press release today.
Not only would increasing the age of sale to 21 help deliver the same health outcomes, it is simpler and less burdensome for retailers, and removes serious challenges pertaining to the legality of a generational smoking ban in Northern Ireland.
The Republic of Ireland announced in May that it would raise the minimum age for sale of tobacco from 18 to 21, stating “[p]reliminary legal advice suggests Ireland cannot pursue a ‘smokefree generation’ policy as has been suggested in other jurisdictions due to the EU’s Single Market rules and Tobacco Products Directive”. Under the Windsor Framework, Northern Ireland follows these same EU provisions which would prevent the introduction of a generational smoking ban in this part of the UK.
An age of sale of 21 would therefore not only be consistent with the UK’s international obligations, but also ensure a consistent approach across the Isles between Northern Ireland, the Republic of Ireland and Great Britain.
The legislation to increase the age of sale to 21 in the Republic of Ireland is expected to pass this week
Sugro UK member and Brand Factory Ltd board director Tony Cox has been awarded The King’s Award for Enterprise – International Trade 2024, in recognition of his outstanding achievements in global trade.
The prestigious award was presented during an on-site ceremony held recently at their Aylesbury location, honouring all 84 staff members who have contributed to the company's success. The presentation was made by Countess Howe, His Majesty’s Lord Lieutenant of Buckinghamshire, and received by Tony Cox and Dilip Vithlani on behalf of the Brand Factory team.
Also in attendance were notable local and national figures, including Councillor Alan Sherell, Mayor of Aylesbury, Laura Kyrke-Smith, MP for Aylesbury, Councillor Mimi Harker, and Carl Wood, National Trade Director of NatWest Bank.
The King’s Award for Enterprise is a highly respected accolade, considered by a committee chaired by His Majesty, The King. The award recognises companies that demonstrate exceptional achievement in international trade, underpinned by a strong, value-led ethos and commitment to ensuring that all employees can contribute and succeed.
Companies that achieve the award must demonstrate sustained growth relative to their size and market sector. Brand Factory Ltd, a leading player in the FMCG market, was acknowledged for its role as a global market leader and trusted partner across numerous international markets. As a recipient of The King’s Award, Brand Factory Ltd now has the privilege of using The King’s emblem on its business documentation for the next five years, further enhancing its reputation within the industry.
Commenting on the award, Cox said, “We are extremely honoured with this fantastic achievement and incredibly thankful for recognising our excellence in International Trade. On receiving this prestigious award, we would like to extend our immense gratitude to all our invaluable customers, suppliers, and dedicated employees for their contribution.
"Together, we have reached the new heights! We look forward to continuing our partnership and reaching even greater milestones together in the future.”
Brand Factory Ltd, known for their tagline “All Brands in One Place”, started trading in Watford in 2018 before relocating to Aston Clinton, Aylesbury in 2019. Since then, they have grown to become a significant force in the global FMCG sector, continuing to lead the way in international trade.
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Vape products are displayed for sale on October 27, 2024 in London, England
The government has introduced the Tobacco and Vapes Bill the parliament, which includes a proposal for a licensing scheme for retailers selling tobacco, vape, and nicotine products across England, Wales, and Northern Ireland.
This development, welcomed by industry leaders, aims to curb illegal sales and prevent youth access to these products. If passed, the licensing scheme would be supported by on-the-spot fines of £200 for retailers found selling to minors, although some industry voices have called for even tougher penalties.
The UK Vaping Industry Association (UKVIA) welcomed the inclusion of the licensing proposal, saying the step is crucial to tackling illicit sales.
“We have been consistently calling on successive governments to introduce a robust and effective industry licensing scheme,” John Dunne, UKVIA’s director general, said, noting that a well-enforced licensing programme could generate over £50 million annually to support a Trading Standards enforcement initiative.
However, Dunne expressed concern that the £200 fine would not be a sufficient deterrent for rogue traders and argued for higher penalties, especially for distributors.
The bill arrives in the wake of other regulatory announcements, including a ban on single-use vapes set for June 2025, and a new £2.20 per 10ml duty on refillable vape liquid and prefilled pods from the Autumn Budget.
Additionally, the Bill proposes broad restrictions on vape advertising and sponsorship and includes powers to control flavors, display, and packaging of vaping products.
Marcus Saxton, chair of the Independent British Vape Trade Association and group chief executive at vape retailer Totally Wicked, commended the government’s intent to enforce stricter penalties for illegal sales but warned against “regulatory overkill.”
Saxton highlighted that overly restrictive measures could undermine vaping’s role as a quit aid for adult smokers, who rely on it as a harm reduction tool.
“Excessive restrictions on the types of products that our members can provide may reduce the products’ appeal. Even worse, they may contribute to continued misperceptions about the harm of vaping relative to tobacco smoking,” Saxton said.
“Specifically, the role of flavours in supporting adult smokers to a successful quit attempt is accepted and understood by most public health stakeholders, and we believe to have been fundamental to the success of vaping in reducing smoking rates.
“Therefore, any reference to potential powers to restrict flavours is very worrying, as it threatens the government’s own goal of the UK becoming smoke free by 2030.
Dunne also noted that the government needs to “take on board the critical role that flavours play” in the success of vaping as a harm reduction tool, calling for a on restricting inappropriate flavour names, not flavours.
“We will want to understand the detail of these powers as it is imperative that the new government establishes a balanced approach to vaping policy which safeguards against the very real challenges of youth vaping and illicit products, while preserving and promoting vaping as the most successful stop smoking tool available for adults,” he added.
The Chartered Trading Standards Institute (CTSI) voiced strong support for the licensing proposal, which aligns with its call for better regulation of youth vaping. CTSI chief executive John Herriman termed the bill as a step toward reducing youth access to vape products but stressed the importance of adequately funding Trading Standards Services to enforce these new measures.
“We stand ready to support businesses to understand their obligations, and take action against anyone who ignores those obligations, as well as being prepared to take action against businesses that flaunt them,” Herriman said.
“We feel the need to stress once again that enforcement of all these measures will be enabled by proper resourcing of local trading standards services and we look forward to seeing the government’s proposals on this as the bill passes through the parliament.”