Sector News

Bernard Matthews owner 'seeking buyer'

June 30, 2016
Consumer Packaged Goods

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

comments closed

Related News

July 14, 2024

ADM appoints Monish Patolawala as EVP and CFO

Consumer Packaged Goods

ADM has announced the appointment of Monish Patolawala as its new executive vice president and chief financial officer, effective 1 August 2024. Patolawala, who brings over 25 years of experience in managing global finance and technology teams, will succeed Ismael Roig. Roig has been serving as ADM’s interim CFO since January.

July 14, 2024

Carlsberg to acquire Britvic for £3.28BN in UK soft drinks expansion

Consumer Packaged Goods

UK Pepsi bottler and soft drinks maker Britvic has agreed to a takeover bid of £3.28 billion (US$4.2 billion) from Carlsberg. The move is expected to allow the Danish brewer to expand its drinks bottling operations in the UK and beyond beer.

July 14, 2024

Unilever to slash a third of European workforce

Consumer Packaged Goods

Unilever plans to cut a third of its office-based roles in Europe by the end of 2025, the consumer goods giant has said. It comes after it announced in March that it would be cutting costs, affecting about 7,500 roles globally. The firm said it would begin a consultation process with those affected by cuts in Europe, with about 3,200 jobs being axed in the region.

How can we help you?

We're easy to reach