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Son of Patak's founder puts the business up for sale
12/03/2007
Patak's the UK-based Indian food brand whose products include curry sauces, chutney, pickles and ready meals, has been put up for sale with a price tag of £200m.
Kirit Pathak, who gained full ownership of the business after a dispute with his two sisters in October 2006, confirmed yesterday that NM Rothschild have been appointed to review strategic options for the company.
Pathak is looking to increase the distribution network and marketing power of the business either through an outright sale or an equity partner. It is thought unlikely that the business would opt for a flotation.
Founded in 1957 by Kirit's father LG Pathak, the company now distributes its products in over 40 countries around the world, employing over 700 staff. In addition to its branded foods, Patak's also manufactures products for distribution under supermarket own-brand labels at Tesco, Waitrose, Sainsbury's, Asda, and Morrisons. Company turnover last year was £67m.
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