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Mar 4 2026, 07:00 GMT
Foods
Private label growth: a detailed study
- Sectors : Foods
- Companies : Greggs plc | Glanbia | AG Barr | Associated British Foods | Cranswick plc | C&C | Danone | Greencore Group
Ratings
Ratings and price correct at time of issue
| Company | Rating | Date | Previous Rating | Date | Closing Price |
|---|---|---|---|---|---|
| Greggs plc | OUTPERFORM | 26/11/25 | N/A | N/A | 1571p |
| Associated British Foods | NEUTRAL | 18/09/25 | Outperform | 05/07/11 | 1915p |
| Cranswick plc | OUTPERFORM | 09/11/16 | N/A | N/A | 5340p |
| C&C | OUTPERFORM | 30/06/09 | N/A | N/A | 115.0p |
| AG Barr | OUTPERFORM | 19/09/24 | N/A | N/A | 696p |
| Danone | OUTPERFORM | 06/03/25 | Neutral | 15/10/21 | 7122c |
| Greencore Group | OUTPERFORM | 04/04/24 | Neutral | 13/03/18 | 262p |
| Glanbia | OUTPERFORM | 30/06/09 | N/A | N/A | 2011c |
DAVY VIEW
Private label now accounts for c.61% of total UK grocery sales by volume. What was once positioned primarily as a value lever has evolved into a central driver of retail growth as improvements in quality, sourcing and tier architecture have narrowed the gap to branded alternatives. The result is a paradigm shift away from brand dominance, with affordability now a persistent purchase criterion across income cohorts.
