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
Unusual opportunity to acquire this national and well established, full service Mechanical & Electrical consulting engineering company. Offers invited.
LEASEHOLD
Works with a network of reliable hauliers to provide comprehensive and reliable logistics solutions on a national basis. Offers invited.
RELOCATABLE
Has established a prominent position with clients in its industry due to its prestigious portfolio. Operates from two leasehold premises. Offers invited.
LEASEHOLD
|
23
|
|
May
|
Fintech company Loot collapses into administration | ADMINISTRATION
After failing to secure further backing from the Royal Bank ...
|
22
|
|
May
|
Spike in M&A activity in the education sector | BUSINESS SALE
In recent months, the education sector in the UK has witness...
|
22
|
|
May
|
Jamie Oliver restaurant empire collapses into administration | ADMINISTRATION
Celebrity chef Jamie Oliver, who shot to fame after campaign...
Sign up to receive our acquisition alert emails to get your FREE guide
|
17
|
|
Dec
|
Travel Counsellors to explore £200m sale | BUSINESS SALE
The owners of Manchester-based holiday planner Travel Counse...
|
06
|
|
Sep
|
Whitworths buys Carr's flour milling business | MERGER
Food business Whitworths has bought agricultural group Carr&...
|
05
|
|
Aug
|
Audley Travel tour operator explores business sale | BUSINESS SALE
A sale of upmarket tour operator Audley Travel is on the car...
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources