FDBusiness.com

Boparan Now Holds 34% of Northern Foods as Offer Deadline Extended

 Breaking News
  • Dairy Crest to Invest £85 Million to Expand Cheese Business Dairy Crest, the leading British-owned dairy company, is investing £85 million in growing the capacity of its cheese business, £75 million of which will be invested at its Davidstow creamery in Cornwall. The investment will allow further growth of the company’s market-leading cheese brands Cathedral City and Davidstow, enhance whey production capacity and support farmers [...]...
  • Record Annual Sales and Capital Investment at Cranswick Driven by robust growth across all product categories – Fresh Pork, Convenience, Gourmet Products and Poultry – as well as a 30.2% increases in exports, Cranswick, the UK food group, has increased total revenue by 18% to a record £1.464.5 billion for the year ended 31 March 2018. Like-for-like revenue increased 13% over the prior [...]...
  • Challenging First Half For Greencore Group Greencore Group, a leading manufacturer of convenience food in the UK and US, has reported revenue of £1.239 billion for the 26 weeks ended 30 March 2018, up by 22.6% versus first half of 2017. Adjusted operating profit of £59.7 million was 8.0% higher than the corresponding period in 2017, primarily driven by the acquisition [...]...
  • Lurpak Combines Taste and Convenience For Launch of New Softest Arla Foods UK is to expand its spreadable product portfolio with the launch of Lurpak Softest, a new soft blend butter that is spreadable straight from the fridge. The UK’s number one butter brand has combined the great taste that Lurpak is renowned for with the softest, most spreadable butter ever*. With spreadability the most important [...]...
  • Scientific Study Shows Improved Fat Oxidation and Better Performance in Athletes When Using BENEO’s Palatinose™ A scientific study by Professor Daniel König[i] and his team at the Department of Sports and Sport Sciences of the University of Freiburg, Germany, has shown that with a pre-load of Palatinose™ endurance athletes “maintained a more stable blood glucose profile and higher fat oxidation, which resulted in improved cycling performance compared with maltodextrin.” The study used a [...]...

Boparan Now Holds 34% of Northern Foods as Offer Deadline Extended

Boparan Now Holds 34% of Northern Foods as Offer Deadline Extended
March 03
12:45 2011

Boparan Holdings, headed by chicken business entrepreneur Ranjit Singh Boparan, now controls more than a third of Northern Foods, the leading UK convenience food group. On January 21st 2011, Boparan made a £342m offer for Northern Foods, which was recommended by the board of Northern Foods in preference to an earlier offer by Greencore involving an all share merger of equals.

By the end of January, Boparan, which had already assembled a 6.6% stake in Northern Foods prior to its offer, had increased its shareholding to 11.4%. Boparan now has in aggregate acquired or agreed to acquire or received valid acceptances representing approximately 34.4% of Northern Foods’ shares. Boparan has extended its offer deadline from March 2nd until 1.00 pm on March 16th 2011.

The board of Greencore has noted the announcement by Boparan relating to its cash offer for Northern Foods and the extension of the deadline. Greencore has confirmed it is still considering its options in relation to Northern Foods and a further announcement will be made in due course.

Greencore has been reported to have been seeking a partner to make an improved offer for Northern Foods with a cash element involved. It is understood to have held discussions on this matter with a number of major food groups and private equity firms.

About Author

colin

colin

Related Articles



Food & Drink Business Conference & Exhibition 2016

Upcoming Events

  • May 21, 2018London Int'l Wine Fair
  • May 22, 2018European Coffee Expo
  • June 1, 2018Gluten Free Expo Slovakia
  • June 3, 2018Vinoble
AEC v1.0.4

find food jobs

The Magazine

F&D Business Preferred Suppliers

New Subscriber





Subscribe Here



Advertisements