Fri, 05 Oct 2018 | BUSINESS SALE
Banham Poultry, based in Attleborough, Norfolk has been put up for sale, and is inviting offers to provide a new home for the company.
Considered one of Norfolk’s largest employers with approximately 1,000 direct members of staff and a further 2,000 in the supply chain, Banham Poultry produces, hatches and rears its own chicks, before supplying chicken to some of UK’s major supermarkets and wholesalers.
Established in 1965 as a family-run business, the company has since gone on to achieve a turnover of roughly £100 million per annum.
During the Norfolk Farming Conference in February, the company announced that it had hit a milestone in processing an average of one million chickens per week, and was en route to a turnover of £130 million by the end of this financial year.
Presently there are two bids for Banham Poultry; one will keep the business running in Attleborough while the other aims to move production to a new location.
The company’s chief executive Martyn Bromley said: “We’re in negotiation to find the right home for the business,” and added that he was looking to find someone who could run the family business “more efficiently”.
Bromley has sought the support of leading banks and Ernst & Young to ensure that all suppliers and employers are fully paid until a transaction is finalised.
Earlier in the week, Conservative MP for Mid Norfolk George Freeman tweeted that the business had fallen into administration; he was soon corrected by Bromley who claimed that it was a “complete misunderstanding”, rather the company is in talks to secure a new owner.
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