Sector News

Bernard Matthews owner 'seeking buyer'

June 30, 2016
Food & Drink

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

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