Business sale on the cards for Aga Rangemaster

Tue, 01 Sep 2015 | BUSINESS SALE

Aga Rangemaster has reportedly been approached by two US companies who are interested in buying the business.

The firm, which makes cast-iron cookers commonly associated with country life, made an agreement in July to sell itself to US food services business Middleby for £129 million in cash.

However, Whirlpool, the world's largest appliance maker, has since got in touch with Aga to express its interest in a cash bid too.

Aga has allowed Whirlpool access to its books to enable them to make a formal bid but if no such offer is received in the next few days, a sale to Middleby is due to be approved by shareholders on 8 September.

Aga commented: “The board of Aga retains the ability to adjourn the sanction hearing if it receives an offer from Whirlpool prior to this deadline which it would intend to recommend to Aga shareholders or if it otherwise considers an adjournment necessary.”

The British company employs some 2,500 people across its plants in Leamington Spa, Ketley and Eaton. It also owns the Fired Earth tiles and decoration business but is primarily known for its high end cookers, which retail in the region of £10,000 to £15,000.

There is no certainty that Whirlpool will be able to make its offer as it will be subject to compliance and competition checks first but Aga remains open to the possible offer for now.


View other businesses for sale.


Share this article



Latest Businesses for Sale

Accountancy Practice: 2 Partnered
Gwent, Wales, UK

This practice, which was established in 1955, is available for sale due to the impending retirement of the partners. Requirements: One of the partners will be available to assist in the transition period to ensure a smooth handover of clients. Offers...

Asking Price: Offers Invited
Turnover: £400,000

FREEHOLD


Accountancy: 4 Partner Practice
Cheshire, UK Wide

This practice, which was established in 2008, is available for sale due to the impending retirement of the partners. Offers invited.

Asking Price: Offers Invited
Turnover: £1,735,000

LEASEHOLD


Accountants: 2 Partner Firm
West Yorkshire, Yorkshire and the Humber, UK

This practice, which was established in 1985, is available for sale due to the impending retirement of the partners. Offers invited.

Asking Price: Offers Invited
Turnover: £360,000

LEASEHOLD



View more businesses for sale

News Search

Latest News

 
17
 
May
 

Greater Manchester staffing firm acquires security services company | BUSINESS SALE

A security services business headquartered in Newton-le-Will...

 
16
 
May
 

Midlothian IT company enters administration with assets up for sale | ADMINISTRATION

An Edinburgh-based IT firm has collapsed into administration...

 
15
 
May
 

Logistics recruiters and distributors snaps up Birmingham-based counterpart | BUSINESS SALE

Challenge TRG Group, headquartered in Wigan, has successfull...

Free guide: 10 Biggest Buyer Mistakes

Sign up to receive our acquisition alert emails to get your FREE guide

Email


Related News

 
23
 
Feb
 

Administration looms for Lagan Construction group | ADMINISTRATION

Four companies that make up one of the UK’s leading co...

 
08
 
May
 

Radio Times publisher to be put up for sale | BUSINESS SALE

Immediate Media, the publisher of Radio Times, BBC Top Gear ...

 
12
 
May
 

Kent-based printer to be liquidated | ADMINISTRATION

A printer based in Tunbridge Wells is set to be liquidated l...

Want access to the latest businesses for sale?

Business Sale Report is your complete solution to finding great acquisition opportunities.

Join today to receive:

  • Comprehensive range of businesses for sale
  • Make direct contact with business sellers or their intermediaries
  • Access to all UK administrations, liquidations and winding-up petitions
  • Daily email alerts for the latest businesses for sale & distressed notifications
  • Business Sale Report publication posted to you every month
  • Advertise your acquisition requirements on our "business wanted" section

All this and much more, including the latest M&A news and exclusive resources