Finnebrogue sold to Canadian owned Sofina Foods
She said: "With Denis's vision and innovation, the business grew into one of the leading food companies in Northern Ireland.""In May 2021, my husband tragically died; from then on I have had the support and backing of the leadership team which Denis created, and I am so proud that Finnebrogue has continued to prosper and grow."But the time has now come for me to hand over the baton, and to do so to Sofina who I know will uphold Denis's legacy and take Finnebrogue on to its next chapter."Sofina Foods and its subsidiaries have over 14,000 employees in Canada, the UK, Ireland, Germany and France.CEO Sofina Foods Michael Latifi said: "This acquisition will allow Sofina Foods to continue our journey of ambitious expansion.""Both Sofina Foods and Finnebrogue share a common culture of excellence, discipline and integrity and I look forward to building on the strengths of both companies," he added.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Reuters
an hour ago
- Reuters
Canada's First Quantum strikes $1 billion gold streaming deal with Royal Gold
Aug 5 (Reuters) - Canadian miner First Quantum Minerals ( opens new tab signed a $1 billion gold streaming agreement with a subsidiary of its peer Royal Gold (RGLD.O), opens new tab, the two companies said in a statement on Tuesday. Gold streaming is a financing mechanism in which a buyer makes an upfront payment to a miner in exchange for purchasing future production from the miner, usually at a predetermined price. Under the deal, First Quantum will receive $1 billion upfront from Royal Gold AG in exchange for gold deliveries referenced to copper production from First Quantum's Kansanshi mine in Zambia. The agreement is expected to close on Wednesday. First Quantum will initially receive 20% of the spot gold price for each ounce delivered, rising to 35% if certain credit or leverage targets are met. Royal Gold said the agreement gives it immediate cash flow from a long-life, large-scale asset. The company expects to receive about 12,500 ounces of gold from the stream this year and an average of 35,000 to 40,000 ounces annually over the next ten years.
Reuters
3 hours ago
- Reuters
UK's Spectris agrees to $5.6 billion offer from KKR as takeover battle heats up
Aug 5 (Reuters) - UK scientific instruments maker Spectris (SXS.L), opens new tab has agreed to a sweetened offer from U.S. firm KKR (KKR.N), opens new tab valuing it at 4.2 billion pounds ($5.57 billion), it said on Tuesday, withdrawing its backing for a lower offer from rival suitor Advent. ($1 = 0.7534 pounds)
Reuters
4 hours ago
- Reuters
Sandoz to offer generic weight-loss drugs in Canada at up to 70% discount, FT reports
Aug 5 (Reuters) - Swiss generic drug manufacturer Sandoz (SDZ.S), opens new tab plans to launch unbranded weight-loss drugs in Canada at discounts of up to 70% compared to branded versions once patents begin to expire next year, CEO Richard Saynor told the Financial Times. Sandoz is yet to finalise the pricing for its generic weight-loss and diabetes drug semaglutide, but a price cut of "60 or 70 per cent of the list price" was achievable, Saynor told the newspaper. Prices could drop further as more generic versions become available, Saynor said, noting, "If you were selling this at $40 or $50 a month, the market could be two or three times bigger in terms of the number of patients." Branded weight-loss and diabetes medications, such as Novo Nordisk's Ozempic and Wegovy, and Eli Lilly's Mounjaro and Zepbound, are currently priced between $200 and $400 for a one-month supply, according to the FT report. Novo Nordisk's medications use semaglutide as the active ingredient, while Eli Lilly's medications use tirzepatide. Sandoz did not immediately respond to a Reuters request for comment. The move comes as demand for weight-loss and diabetes drugs has surged globally, driven by their effectiveness in managing obesity and diabetes. Last month, a top Biocon executive told Reuters that the biopharmaceutical company aims to launch generic copies of the blockbuster weight-loss drug Wegovy in Canada within the next two years.
