Fri, 01 Jul 2016 | BUSINESS SALE
Turkey producer Bernard Matthews has been placed on the market, after “disappointing results” over the past 12 months.
The business's owner has brought in PriceWaterhouseCoopers (PwC) to seek potential buyers for the Norfolk-headquartered firm this week. Rutland Partners, which also owns Pizza Hut, and electronics retailer Maplin, bought the company in 2013.
The sale “does not affect the internal operation of the business”, Rutland Partners' executive chairman Alan Jamieson reassured staff when he gave the news in an email. Mr Jamieson added: “Neither does it reduce in any way Rutland’s support for the BM management team as it continues to strengthen and improve the business following the disappointing results achieved over the last year or so.”
Unite union represents about 400 of Bernard Matthews' 2,000 staff, and nevertheless voiced its concern regarding the implications for staff after the news of the upcoming sale, calling for “clarity on what this means for the company and the workers”.
The firm was named after its founder, who started out as a trainee livestock auctioneer in Norwich, and died aged 80 six years ago with an estimated fortune of £300 million. His Golden Norfolk Turkey is still the most popular frozen branded whole turkey eaten at Christmas time in Britain, the website asserts.
Bernard Matthews suffered an outbreak of bird flu in 2007 at its factory in Holton, Suffolk, as was also later hit by the soaring costs of turkey feed in 2011.
Food-related businesses for sale
Finance your business purchase
The company is a vehicle accident repair centre offering general bodywork repair and other related services, including wheel alignment, air conditioning re-gas and windscreen / glass replacement. Repairs are completed to manufacturer standard by trai...
The company is a furniture and equipment hire company catering to the events industry, offering a vast stock portfolio of tables, chairs, table linen, crockery, cutlery, glassware and kitchen equipment.
Established mechanical services contractor offering a variety of HVAC, plumbing and renewables services, including heat pump installation and heat recovery ventilation.
25
|
Apr
|
Ambulance services provider acquired in pre-pack deal | BUSINESS SALE
Elite Emergency Medical Services Ltd (Elite EMS), an ambulan...
25
|
Apr
|
Tile business old to management team by Norcros | MBO/MBI
Johnson Tiles UK, a tile business based in Stoke-on-Trent, h...
25
|
Apr
|
New private equity owner for fleet hire firm | BUSINESS SALE
West Lancashire-based fleet hire business NRG Riverside has ...
07
|
Feb
|
UK M&A activity falls by almost a fifth in 2023, but cautious optimism grows | BUSINESS NEWS
UK M&A activity falls by almost a fifth in 2023, but cautiou...
27
|
Jan
|
Paperchase set to be rescued in pre-pack acquisition | BUSINESS SALE
High-street stationer Paperchase is set to be acquired by Pe...
06
|
Jan
|
Paperchase close to administration amid “unbearable strain” of lockdown | ADMINISTRATION
Cards and stationary retailer Paperchase has filed notice of...
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.