Mon, 23 Nov 2020 | BUSINESS SALE
Giant egg producer Noble Foods is seeking a sale of Gu Puds, the UK’s premium desserts manufacturer. Noble has engaged bankers from Spayne Lindsay to lead an auction for the company.
Gu Puds was founded in 2003 by owner and MD James Averdieck, with Noble Foods acquiring a majority stake in the business in 2010.
According to sources, Gu Puds could be valued at over £100 million and is thought to be likely to attract interest from a mix of industry companies and private equity firms. The plan comes as Duncan Everett, the new CEO of Noble, aims to revise the company’s strategy.
Swiss giant Nestle was interested in the company in 2009 and again when Noble last explored a sale two years ago. Mars was also interested in Gu in 2009, an auction eventually won by Noble.
Gu Puds has a 20 per cent share of the UK’s premium desserts market, as well as a strong presence in European markets including France and Germany. It is thought that the company will have performed strongly during the COVID-19 pandemic.
In its most recent accounts, to the year ended September 27 2019, Noble Foods reported turnover of £314.2 million, down from £317.5 million in the year prior.
The company’s operating profit stood at £8.9 million, down from £11.3 million in its 2018 accounts, while profit for the financial year was £5.8 million, down from £7.2 million in its accounts for the previous year.
Find businesses for sale here.
If you are looking for an exit, we can help!
The Inn is a large semi-detached property situated in 3/4 of an acre of land. The village is situated close to the famous Cloughton and The Hayburn Wyke Valley which reaches down to a magnificent rocky cove complete with tumbling waterfall and giant...
FREEHOLD
The inn occupies a prominent roadside position on the A361 in the village of Burrowbridge. It stands alongside the River Parrett in the Somerset levels and is popular with walkers, cyclists and bird watchers. The village lies at the halfway point bet...
FREEHOLD
Traditional eighteenth century public house with three bars and restaurant for sale after sixteen years in same owners' hands.
FREEHOLD
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.