Sun, 24 Mar 2013 | BUSINESS SALE
Whitworths, one of the UK’s biggest snack-food manufacturers, is being put up for sale by private equity firm, European Capital, with a £100m price tag.
According to the Sunday Times, European Capital has tasked food and drink investment advisers, Stamford Partners, to locate possible buyers for the Northamptonshire-based firm.
Whitworths began as a mill 126 years ago and for many years simply provided flour to local bakers. In 1932, the company expanded production to supply the wheat for a popular new breakfast cereal called Weetabix. The company continued steady growth, acquiring mills and bakeries and its own fleet of lorries. A merger and a management buyout followed, with the business moving from strength to strength and rapidly increasing its export markets.
The firm now employs approximately 350 people manufacturing a range of fruit and nut mixes and other natural and healthy ingredients.
Sales for the year ended 30th April 2012 were a robust £145m, up from £119m a year earlier, though pre-tax profits were somewhat lower at £5.6m, down from £7.4m.
A £100m sale of the business would represent a modest return for European Capital on its initial investment of £85m, the price paid in 2006 to the-then owners Gresham Partners.
This leading recruitment agency boasts over 30 years of expertise in mechanical and electrical engineering, offering a robust infrastructure and an extensive candidates' database.
Explore a dynamic business opportunity with a relocatable, eco-friendly contract packing and reworking specialist located in Norfolk.
A highly respected family business specialising in waste recycling is now available in West Yorkshire, offering a unique opportunity in a thriving industry.
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.