£5.6 Million Management Buyout at Lees Foods

 Breaking News
  • Scottish Food and Drink Exports Hit Record £6 Billion Overseas Scottish food and drink exports were worth approximately £6 billion in 2017 – almost £570 million more than 2016. Food exports were valued at about £1.6 billion – a rise of 15% (£214 million) during the same period. Exports of food to Europe were worth £1.1 billion after an increase of 13%, or £125 [...]...
  • UK Casual Dining Contraction is Independents’ Opportunity With casual dining brands closing sites and scaling back expansion in the UK, well-run independent operators have an opportunity to take back market share, says buying specialist Lynx Purchasing. Operators who do their homework on the eating-out market, including implementing strong buying disciplines, can broaden their customer appeal, says Lynx Purchasing managing director Rachel Dobson. “Since the [...]...
  • AAK UK Opens First Customer Innovation Centre AAK UK has opened a new Customer Innovation Centre in Hull to take its co-development work with leading food brands to new levels of success. AAK, the UK’s leading manufacturer and supplier of edible oils, fats and semi-speciality oil ingredients, works in close partnership with some of the most famous names in food and bakery to [...]...
  • Marks and Spencer Selects Zetes to Transform Food Supply Chain Operations Marks and Spencer (M&S) has selected Zetes to help transform visibility and fulfilment across its fresh food supply chain. The partnership will also see greater collaboration between M&S and its food suppliers via Zetes’ supply chain visibility platform, ZetesOlympus. Through ZetesOlympus, M&S will gain real-time fulfilment performance insight across its fresh food supply chain. The platform will help M&S [...]...
  • Guinness Remains Ireland’s Most Valuable Brand at €2.1 Billion Guinness remains Ireland’s most valuable brand after growing by 5% over the last year to a brand value of €2.1 billion on the back of new product innovations and steady sales of the world-famous draught, according to the latest report by Brand Finance, the world’s leading independent brand valuation and strategy consultancy. Guinness’s brand value has [...]...

£5.6 Million Management Buyout at Lees Foods

£5.6 Million Management Buyout at Lees Foods
April 12
10:36 2012

Scottish bakery and confectionery company Lees Foods is the subject of a £5.6 million management buyout, which will take the business private. Lees Foods is the parent company of Lees of Scotland and the Waverley Bakery, two Scottish companies that have a long tradition in the manufacturing of confectionery products that have been enjoyed by consumers in the UK and overseas for many years. Lees Foods has been listed on AIM since June 2005.

The management, headed by chief executive Clive Miquel and other directors, is conducted the deal through buy-out vehicle Randotte. The management of believes that the proposal to return the company to private ownership is in the best long-term interests of the business.

Lees Foods currently employs 270 people across its factories at Cambuslang and Coatbridge. Despite escalating raw materials costs, Lees Foods has managed to increase pre-tax profits from £379,000 in 2008 to just under £1 million in 2010 with 2011 profits expected to be well ahead of analysts’ forecasts of £900,000.

About Author



Related Articles

Food & Drink Business Conference & Exhibition 2016

Upcoming Events

  • March 18, 2018ProWein
  • March 21, 2018World Olive Oil Exhibition
  • March 28, 2018FOOD INDUSTRY
  • April 4, 2018The leading event for the snack and food-on-the-go market
AEC v1.0.4

find food jobs

The Magazine

F&D Business Preferred Suppliers

New Subscriber

Subscribe Here