Food and drink makers past their use-by

Britvic has been added to Northern Foods as one of UK equity long/short managers' favourite shorts

UK long/short funds have targeted the UK food-manufacturing market as a source of several profitable short positions, including Britvic and RHM.

"It's a very competitive market. It hurts pricings and squeezes margins," says John Rosier, manager of Matrix's RM Fund.

However, the name that keeps coming up is Northern Foods, a position Resolution held going into May and currently retains. Matrix is also short Northern Foods.

"Ostensibly, you can look at these valuations and say they have a nice yield

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact or view our subscription options here:

You are currently unable to copy this content. Please contact to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to View our subscription options

You need to sign in to use this feature. If you don’t have a account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here