Grampian Country Food Group, one of the UK's largest food groups, is now up for sale. 

Grampian, which supplies meat to UK supermarkets, has recruited investment bank JPMorgan Cazenove to source a buyer for the entire business, and Investec to look for parties which may want to acquire parts of the business, should a sale of the business as a whole not be possible.

Aberdeen-based Grampian, which produces more than 7,000 tonnes of chicken products every week and 5,300 tonnes of pork and pork products, along with beef and lamb, employs nearly 20,000 workers. The company has had previous debt problems, but this year has reported profits of more than £5m on a £1.8bn turnover. 

Grampian has been valued at around £400m, which has led to speculation that the company's founder, Fred Duncan, is in line for a major pay-off when a sale is completed. 

Possible bidders are thought to include Sadia and Perdigão, Brazil’s two biggest meat processors.