Fri, 22 May 2015 | DIVISION SALE
Bakery ingredients group Real Good Food has completed its division sale of Napier Brown for £34 million.
Based in Toxteth, Liverpool, the business first announced plans to sell its sugar division in April, confirming that it had received interest from a number of parties.
Now a deal with French group Tereos for the disposal of its sugar division, Napier Brown, has been struck.
Pieter Totté, chairman of Real Good Food, commented: “We believe Tereos is the best choice for both customers and employees.
“This transaction will allow us to focus all our resources on the continued growth of our remaining businesses.”
He added that while he remains “proud” of what the firm achieved in building the Napier Brown business, the changes that are currently occurring within the European sugar market mean that “the future of this business is best served by it becoming part of an international production group”.
Napier Brown is the biggest non-refining sugar distributor in Europe. It provides customers with different varieties of sugar as required, be they cane, beet, white, brown or speciality. Among its brand names is Whitworths Sugar.
As the largest sugar producer in France, Tereos is the world's fifth-largest sugar group. It employs some 24,000 people around the world, giving it a solid base from which to deliver a strong future for Napier Brown.
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