Kodak expecting fast deal as film division put up for sale

Thu, 07 Feb 2019 | BUSINESS SALE



Kodak Alaris has revealed that it is in the "advanced stages of negotiations" with potential buyers after putting its film division up for sale.

The Hertfordshire-based company that is responsible for the manufacture of Kodak photographic suppliers has reportedly been put up for sale. The firm revealed that a deal for its Paper, Photochemicals and Film (PPA) unit is expected to be completed by the end of March following high levels of interest from potential buyers.

Kodak's paper chemistry and film business is currently valued at around £34 million and has been on the market since January 2018, following which it was approached by multiple prospective buyers.

"Management is actively marketing the business and expects to complete a sale of the PPF business before 31 March, 2019," the company's financial report confirmed, "We are in advanced discussions with a bidder to sell the PPF business and all of its assets," added company chairman Mark Elliott."

Founded in 2013 after Eastman Kodak filed for bankruptcy, Kodak Alaris was formed with the UK Kodak Pension Plan (KPP) to resolve a claim of £2.8 billion, with KPP the firm's sole shareholder. The company is responsible for marketing Kodak photographic and business products, but not the Kodak company's camera line.

The fund has a deficit of £1.5 billion and was instructed by trustees to explore its sale to cover some of this loss. Other components of the firm including Kodak Moments, Alaris and AI Foundry, which will not be included in the current sale. However, the sale will not be completed until a satisfactory price has been agreed.

Nigel Moore, chairman of the KPP trustees, confirmed: "If offers reflecting the true value of the business are not received, then ownership of Kodak Alaris will pass to the (Pension Protection Fund) who will manage the asset in the same way as other scheme assets that are acquired."

For more news stories about business sales, click here. For all our business for sale listings, click here.


Share this article



Latest Businesses for Sale

IT Business
North West, London, London, UK

Well established. Managed services with significant recurring revenue stream. Relocatable. Affordable IT services. Hardware and software services. The business for sale is an IT company providing hardware, software, internet and support services. Off...

Asking Price: £299,995
Turnover: £373,966

LEASEHOLD


Online Video management & Monetisation Platform
London, UK

Highly Profitable Company Specialising in the Monetisation of Online Music, Film and TV Video Content. Impressive Client Base that Includes Globally Recognised Brands and Artists. Experts in Content Management, Rights Management and Monetisation of O...

Asking Price: Offers Invited
Turnover: £2,700,000

Visual Display Solutions
UK Wide

An independent provider of specialist visual display solutions, focusing on the delivery of effective. Specialises in the delivery of innovative solutions with military, marketing and recreational applications. Established over 15 years and highly re...

Asking Price: Offers Invited
Turnover: £470,000

LEASEHOLD



View more businesses for sale

News Search

Latest News

 
12
 
Dec
 

Appello acquires Mevivo Careline | BUSINESS SALE

Living solutions provider Appello has acquired telecare and ...

 
11
 
Dec
 

PiggyBank owner enters administration | ADMINISTRATION

DJS Limited, the parent company of payday lender PiggyBank, ...

 
10
 
Dec
 

MBO at Derby rail sector recruiter | MBO/MBI

There has been a seven-figure management buyout (MBO) at Der...

Free guide: 10 Biggest Buyer Mistakes

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

Email


Related News

 
06
 
Mar
 

Sale sought for Evans Easyspace in administration | ADMINISTRATION

Serviced office firm Evans Easyspace has entered administrat...

 
24
 
Aug
 

Kodak plans to sell sections of imaging business | BUSINESS SALE

Eastman Kodak Co has announced plans to sell off sections of...

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