Nottingham City Council puts focus on long-term financial stability
Multi-million pound enterprise hub prioritises all-electric development
Greencore renews takeover bid for Bakkavor
Greencore has made a third takeover bid for rival food supplier Bakkavor after its previous £1.1 billion offer was rejected earlier this month. The latest proposal values Bakkavor at 189p per share, offering a 25% premium on its market price.
The offer includes 85p in cash per share and 0.523 Greencore shares, with Bakkavor shareholders also eligible for a 4.8p dividend. If accepted, Greencore shareholders would own 59.8% of the combined company, while Bakkavor investors would hold 40.2%.
Both companies are major UK food manufacturers, supplying ready meals and food-to-go products to supermarkets. Greencore, headquartered in Ireland with a UK base in Worksop, turned over £1.8 billion last year and operates 14 factories nationwide. Bakkavor, which generated £2.3 billion in revenue in 2024, runs 20 factories and four distribution centres. The company has faced supply chain disruptions, including a strike at its Spalding site that led to shortages of dips, soups, and wraps.
Bakkavor’s board has rejected Greencore’s offers, stating they undervalue the company and its prospects. Greencore said it remains open to strategic opportunities but has not confirmed whether it will make a firm offer.
Anglian Water expands emergency water supply capacity in East of England
Anglian Water has signed a new three-year agreement with emergency water supplier Water Direct to enhance rapid-response water deliveries across East England. The deal ensures up to 20,000 emergency water deliveries per year for households on Anglian Water’s Priority Services Register (PSR), which supports vulnerable customers during supply disruptions.
The partnership, which dates back to 2008, increases Anglian Water’s reserves in Water Direct’s Nationwide Bottled Water Bank (NWBW) for faster emergency response. Water Direct has committed to delivering water to at least 2,000 households within 24 hours when required.
The agreement aligns with regulatory changes expected to expand the number of customers eligible for PSR support by up to 40%. By outsourcing emergency deliveries, Anglian Water can reallocate internal resources to focus on resolving supply issues, improving operational efficiency.
Water Direct is also developing a technology platform to enhance real-time tracking, customer data verification, and delivery management, ensuring more efficient and transparent emergency water distribution.
Vaillant opens £40m Derby plant, creating 200 jobs
Vaillant has opened a £40 million manufacturing plant in Derby, adding 200 jobs to the local economy. The facility at Indurent Park will produce hot water cylinders, including the new uniSTOR high-recovery range, set to begin production next month.
The plant, which spans 12,200 sq m, includes manufacturing and warehousing space and incorporates sustainability features such as rainwater harvesting, energy-efficient lighting, and heat pump technology.
Vaillant, a global heating and cooling solutions provider with 17,000 employees, has expanded its UK manufacturing presence to meet the growing demand for low-carbon heating solutions. The company previously launched the UK’s first boiler manufacturer-led heat pump plant in 2022.
Energy Secretary Ed Miliband highlighted the plant’s role in supporting local employment and advancing the UK’s low-carbon transition. Vaillant Group UK’s plant director, Joe Dunn, emphasised the company’s commitment to Derbyshire, its historic roots, and its continued investment in sustainable heating technology.
Retailers boost wages as competition for workers intensifies
Major UK retailers have increased pay rates in 2025 to attract and retain staff amid rising living costs. Aldi, Lidl, Tesco, and John Lewis offer higher wages for store employees.
Aldi raised its minimum hourly rate to £12.75 nationally and £14.05 within the M25 in March, with further increases to £12.85 and £14.16 set for September. Lidl matched Aldi’s £12.75 national rate and pays £14.00 within the M25, with longer-serving staff earning up to £13.65 nationally and £14.35 in London.
Tesco has invested £180 million in wage increases, setting hourly pay at £12.45 to £12.64 nationally and up to £13.85 in London. John Lewis and Waitrose opted to reinvest £114 million into employee wages instead of offering partner bonuses, setting new shop floor rates at £12.40 nationally and £13.85 in London.
Other retailers making notable pay increases include B&Q (£12.71 nationally, £14.05 in London), Sainsbury’s (£12.45–£12.60 nationally, £13.70–£13.85 in London), and Marks & Spencer (£12.60 nationally, £13.85 in London).
The pay hikes reflect ongoing competition in the retail sector to offer competitive wages and retain workers in a tight labour market.
CityFibre expands UK footprint with Connexin acquisition
CityFibre has acquired Connexin’s full-fibre infrastructure, expanding its presence in Hull and East Riding and adding up to 185,000 premises to its network. The financial details of the deal have not been disclosed.
The acquisition includes Connexin’s existing network, which covers more than 80,000 premises, with plans for an additional 20,000. CityFibre will also take over Connexin’s Project Gigabit contract, delivering gigabit-capable broadband to over 34,000 hard-to-reach premises in Nottinghamshire and West Lincolnshire.
Connexin’s XGS-PON network will be integrated into CityFibre’s wholesale services, with full integration expected later this year. This move aligns with CityFibre’s broader strategy to reach at least eight million premises across the UK.
This acquisition follows CityFibre’s purchase of Lit Fibre in May 2024 and previous deals, including FibreNation from TalkTalk in 2020 and national network assets from KCOM and Redcentric.
Founded in 2011, CityFibre is a fibre-only provider competing with Openreach and Virgin Media O2. The company sees market consolidation as essential for the UK’s fibre rollout.
Skegness hotel sold
Revenue and profit rise at games developer
Games developer everplay, recently rebranded from Team17, has shown a rise in revenue and profits in unaudited final results for the year ended 31 December 2024.
Revenue at the Wakefield, Manchester, and Nottingham-based firm grew to £166.6m, up from £159.1m in 2023. Meanwhile, the business posted a pre-tax profit of £25.3m, recovering from a loss of £1.1m in the prior year.Steve Bell, Group Chief Executive Officer of everplay, said: “I am extremely pleased with the Group’s performance during 2024, a clear return to the quality business for which we have been known.
“As we begin our first year under the new name of everplay, I am excited about the incredible slate of games we have lined up for 2025, and some important innovations in our business model. Allied with stringent cost controls, we are confident that these will deliver results our shareholders expect.”
The business has hailed a good start to 2025, supported by momentum from festive season promotions, with everplay “confident” that it can deliver an improved trading performance in 2025, marginally ahead of current market expectations.
Ibstock appoints new chair
Ibstock, a manufacturer of building products and solutions, has appointed Richard Akers as a non-executive director and chair designate.
Jonathan Nicholls will step down as chair and retire from the board on 15 May 2025. Jonathan joined Ibstock’s board as a non-executive director in 2015 and was appointed as chair in 2018.
Richard brings a wealth of leadership experience and sector insight to the role having spent his career in the property, house building and land transaction industries, including twenty years with Land Securities Group PLC where he was a senior executive, member of the board, and managing director of the retail portfolio.
He recently joined Miller Homes Limited as chair in January 2025, prior to which he was the chair of Redrow PLC until its merger with Barratt Developments PLC completed in October 2024. Richard spent nine years in non-executive director roles with Barratt Developments PLC and is currently the senior independent director at Shaftesbury Capital PLC.
He has also held non-executive roles at Unite Group PLC, EMAAR Malls in Dubai and the Battersea Power Station Development Company and was a fellow of the Royal Institution of Chartered Surveyors.
Jonathan Nicholls said: “It has been a pleasure to be part of Ibstock’s board since its IPO in October 2015 and a privilege to have been chair since 2018. I would like to thank my non-executive colleagues on the board for their support, commitment and enthusiasm during my tenure.
“I look forward to working with Richard to ensure a smooth transition when he joins us in May. Finally, the success that Ibstock has achieved over the last few years is down to the excellent leadership of Joe Hudson our Chief Executive Officer ably supported by Chris McLeish, our Chief Financial Officer and I wish the business well for the future.”
Richard Akers said: “I am delighted to be joining a company with strong growth ambitions at such an important time for the building industry. I look forward to working with the board as well as Joe and the executive team as Ibstock continues to deliver on its current operational strategy.”
Joe Hudson, Group Chief Executive, said: “I would like to thank Jonathan for all his leadership and support over the last 9 years. His wisdom and counsel have helped Ibstock to navigate through challenging market conditions, as well as a significant investment programme. He has also been a real support to me personally.
“We are delighted to welcome Richard to Ibstock. He has strong experience as a chair and with our customer base which will be helpful as we capitalise on future recovery in our markets.”
