Clarke Foods feels the chill
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.CLARKE Foods, the fast-growing ice-cream company, is facing a crisis of confidence in anticipation of its interim figures due on 3 August. Henry Clarke, the chairman, said his interim statement 'will include the fullest statement ever made about the ice-cream market in this country'.
Sales have been affected by the reorganisation of the factories inherited from the rundown Lyons Maid business that Clarke bought earlier this year from Allied Lyons. The shares have fallen 60p to 100p over the past few weeks, amid claims of dumping by some institutional holders. Mr Clarke and his fellow director Martin Riley also sold 300,000 shares before the price fell.
On Friday, there was a further blow to hopes of loosening the grip held on the market by Walls, the Unilever subsidiary. The European Commission has decided not to challenge the company's right to ensure that confectioners who use freezer cabinets supplied by Walls do not stock rival products.
The decision is a blow to Mars, which introduced a successful range of premium ice creams in the last few years and has been challenging the Walls' monopoly since. Walls is estimated to have 70,000 exclusive freezers, while Lyons Maid has 20,000, and a similar number are owned by the retailers.
Mr Clarke had already made a fortune in up-market ice creams in the US before he bought three ice-cream companies from Hillsdown Holdings in February 1991. His plans for the combined Hillsdown-Lyons Maid business include a range of premium ice creams under the Clarke name.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments