Mon, 04 Nov 2013 | BUSINESS SALE
The Tilda Rice business is for sale with the owners expecting to get around £250 million from the disposal.
Tilda was founded by the Thakrar family who fled Uganda after being expelled by dictator Idi Amin around 40 years ago. The family arrived in north London and worked to clean and pack rice and pulses. From here they built up a company that is now stocked by all the major supermarkets in the UK.
Reports from Sky News revealed that the family has appointed investment bankers from Rothschild to look over their shareholding in the business. Sources close to the situation informed the news source that a sale is on the cards and analysts estimate that the company could change hands for something in the region of £250 million.
The latest statement from Companies House explained the firm's priorities in the coming months: “The company's main objective is for growth in sales and profitability. This will be achieved by building on the success of the existing brands in the EU and overseas markets and by continuous improvements in operational efficiency.”
The business employs around 200 people in the UK and has ambitious international growth plans, which it has already started to realise by exporting some of its products to India.
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