Fri, 01 Apr 2011 | BUSINESS SALE
Sandwich manufacturer, Uniq, has been put up for sale by its pension trustees, who only took on the troubled company just a month ago.
The convenience food maker had a pension deficit of around six times its market value when the company yielded 90 per cent of its shares to the trustees in February. The trustees announced on Friday, however, that they are now exploring deals with some third parties that have expressed interest in making an offer for or investing in Uniq.
Renowned food and drink industry experts, Spayne Lindsay & Co. LLP, have been appointed as the corporate finance advisers for the company, which sells desserts, sandwiches and salads to some of the UK's leading food retailers, including Marks and Spencer.
It is understood that the pension trustees want to realise some or all of their shareholding in the company. The pension deficit that was wiped out in February was thought to be valued in the region of £400 million.
The company had at one point been the UK's biggest dairy supplier but suffered from adverse market conditions to a point where its value was put at little more than £7 million. Recorded sales for the year to 31st December 2009 were £287 million with a net loss of £18.5 million.
An established and newly discounted catering and retail butchers in Southend-On-Sea is now available, offering a unique opportunity for those looking to enter or expand in the food industry.
FREEHOLD
This Bristol-based law practice presents a compelling opportunity with a strong track record in criminal, children, and family law matters, showcasing a diverse portfolio of publicly funded and privately paid work.
This is a terrific opportunity to take over an established and high-revenue yielding law practice in central London, with a diverse portfolio emphasising matrimonial and residential conveyancing.
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.