Wed, 12 Apr 2017 | BUSINESS SALE
Whitworths, the 130-year-old maker of dried fruits and nuts, has been put up for sale by its private equity owner Equistone, reports say.
According to the Daily Mail Whitworths, which was founded as a flour-miller in Northamptonshire in 1886, has appointed investment bank Houlihan Lokey to hunt down a buyer.
City sources told the paper that trading had been hard in the past year, and that lenders are thought to have put pressure on Equistone to sell so they can recover some of their loans.
It is thought the company could be worth around £20 million, although a source told Insider Media that that figure is “exaggeratedly low and very questionable”.
Whitworths, headquartered in Northamptonshire, is the UK’s largest supplier of branded and own label dried fruit, nut and seed products, with approximately 30 per cent market share.
As well as a variety of dried fruit and nut products, the firm also sells beans, pulses and cereals as well as owning the Sunny Raisins brand. Its customers include supermarket chains and bakers.
In the 12 months to June 2016 the company posted sales of £157 million and £7.4 million in operating profit.
A Whitworths spokesman told the Daily Mail: “We are currently in a process with Houlihan Lokey exploring new investment opportunities.”
Equistone Partners bought a majority stake in Whitworths in September 2013 in a deal which valued the business at £90 million.
Find food businesses for sale.
You can subscribe to the Business Sale Report here
The company offers a well-regarded own brand of hair care products focusing on hair growth and repair, featuring premium formulas that are natural, vegan, and cruelty-free. With a strong global presence and prestigious industry awards, the business h...
This business offers a cutting-edge process safety management platform with proprietary software that ensures proactive safety measures for both onshore and offshore assets. With a strong foothold in the oil and gas sector and recent expansion into i...
This business offers a comprehensive range of road surfacing and civil engineering services, supported by significant investments in state-of-the-art equipment and a recently acquired operational site in Scotland to optimise efficiencies. With robust...
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.