Northern Foods to dispose of assets

Mon, 26 Jun 2006

Northern Foods, the UK-listed comestibles group, has hired KPMG Corporate Finance to handle the disposal of some of its assets, it has been reported. The Smiths' business, which mills flour, and the speciality breads' operations have been earmarked for sale and would be overseen by KPMG.
The two divisions are considered non-core, with joint sales of £115m. Northern intends to raise around GBP 200m from selling assets to reduce its debt.