The private equity owner of turkey producer Bernard Matthews, which employs about 2,000 staff across Norfolk and Suffolk, is reportedly seeking a buyer for the business.
Sky News has reported that Rutland Partners, which has owned the company since 2013, has appointed advisers at PwC to find potential buyers.
According to the report, the move comes “amid a turbulent period which has seen delays to supplier payments”.
Bernard Matthews reported pre-tax losses of about £3.7m for the year to 28 June 2015, an improvement from a loss of £8.5m a year earlier, according to its latest accounts filed at Companies House. Turnover for the year fell from £306.8m to £276.7m.
Earlier in 2016, the company appointed Alan Jamieson as chairman of the business. He was previously chairman at CeDo, a manufacturer of household disposable products including refuse sacs, aluminium foil and cling film which is also backed by Rutland Partners.
Source: Insider Media
Former president and CEO Kaho has been promoted to executive officer and executive VP, chief human resources officer for Tokyo-based parent company Ajinomoto Co. During his previous role, he led AFNA through a multi-year investment period, helping to shape the company’s cultural transformation and expand its capabilities.
Tate & Lyle has confirmed it is in discussions with US peer Ingredion over a possible cash offer for the UK food ingredients group, following a series of “earlier approaches” from the company. Under the conditional proposal, Tate & Lyle shareholders would receive up to 615 pence per share in total value, comprising 595 pence in cash plus up to 20 pence in permitted dividends.
The Slough factory was established in 1932 by Forrest Mars, and is the birthplace of the Mars bar. It now produces several of the company’s flagship confectionery brands, meeting demand from UK consumers as well as manufacturing for distribution in Ireland and the Netherlands.
