Mon, 23 Nov 2020 | BUSINESS SALE
Giant egg producer Noble Foods is seeking a sale of Gu Puds, the UK’s premium desserts manufacturer. Noble has engaged bankers from Spayne Lindsay to lead an auction for the company.
Gu Puds was founded in 2003 by owner and MD James Averdieck, with Noble Foods acquiring a majority stake in the business in 2010.
According to sources, Gu Puds could be valued at over £100 million and is thought to be likely to attract interest from a mix of industry companies and private equity firms. The plan comes as Duncan Everett, the new CEO of Noble, aims to revise the company’s strategy.
Swiss giant Nestle was interested in the company in 2009 and again when Noble last explored a sale two years ago. Mars was also interested in Gu in 2009, an auction eventually won by Noble.
Gu Puds has a 20 per cent share of the UK’s premium desserts market, as well as a strong presence in European markets including France and Germany. It is thought that the company will have performed strongly during the COVID-19 pandemic.
In its most recent accounts, to the year ended September 27 2019, Noble Foods reported turnover of £314.2 million, down from £317.5 million in the year prior.
The company’s operating profit stood at £8.9 million, down from £11.3 million in its 2018 accounts, while profit for the financial year was £5.8 million, down from £7.2 million in its accounts for the previous year.
Find businesses for sale here.
If you are looking for an exit, we can help!
B2B Wholesaler of fish, poultry, game, and frozen food. The business has evolved to become one of the most prestigious brands in the International fish industry. Maintained level of profitability over the course of the COVID-19 pandemic; it is now fo...
LEASEHOLD
This is an opportunity to acquire a traditional fish and chip shop. Benefitting from recent refurbishment with over £100,000 invested to ensure the store is kept up to date and modernised. Since being established for more than 8 years, the owners hav...
LEASEHOLD
This is an award winning, licensed restaurant, that is situated in a hugely desirable town within Greater Manchester. The restaurant has a huge reputation locally and the new owner is going to benefit hugely from the goodwill attached to the business...
LEASEHOLD
|
07
|
|
Oct
|
Staffordshire tyre firm acquired by Halfords at 16.1x profits | BUSINESS SALE
Staffordshire-based commercial tyre firm The Lodge Tyre Comp...
|
06
|
|
Oct
|
Administrators continue to explore sale of paper group subsidiaries | ADMINISTRATION
Administrators are continuing to explore a sale of the busin...
|
05
|
|
Oct
|
Vertu Motors plans further acquisitions after solid H1 performance | BUSINESS NEWS
Car retailer Vertu Motors has said that it is planning furth...
Sign up to receive our acquisition alert emails to get your FREE guide
|
14
|
|
May
|
Pudding brand Gü close to £150m sale | BUSINESS SALE
Noble Foods is close to selling its dessert brand Gü to...
|
08
|
|
Apr
|
Egg business Noble Foods hoists £400m price tag | BUSINESS SALE
The owners of Noble Foods are considering a £400 milli...
|
10
|
|
Oct
|
Premier Foods' sale of Hartley's jam on the table | DIVISION SALE
The sale of Premier Foods’ key brands, including Hartl...
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