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

IPR & Goodwill of a Software Development Company
UK Wide

Specialising in solutions for use in the drug safety marketplace. Provides systems focused on preserving regulatory data in platform-independent structures and providing tools for extracting and managing data from proprietary systems. Offers invited.

Asking Price: Offers Invited
Turnover: £140,000

RELOCATABLE


Developer of Clinical Coding-Oriented Software
UK Wide

For use within healthcare systems. Faces no direct competitors, with systems offered by the company being embedded into third-party systems and forming an essential component of clients’ operations. Offers invited.

Asking Price: Offers Invited
Turnover: £65,000

RELOCATABLE


IT Support Company
London, UK

The services offered include disaster recovery, cloud solutions, as well as IT support, and hardware and software sales. The target SME size is between 10-50 personnel and the Company prides itself for being a "one stop shop" for its clients. It prov...

Asking Price: Offers Invited
Turnover: £553,175

LEASEHOLD



View more businesses for sale

News Search

Latest News

 
26
 
Jun
 

'All options' being explored for collapsed Welsh cheese maker | ADMINISTRATION

A cheese-making factory in Snowdonia has collapsed into admi...

 
25
 
Jun
 

Port Talbot construction business enters administration | ADMINISTRATION

A construction company based in Port Talbot has fallen into ...

 
24
 
Jun
 

Digital account provider snapped up by Morses Club | BUSINESS SALE

Sheffield-based U Holdings Limited, which trades under the n...

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