Acquisitions and disposals Disposals
2003
ACH Speciality Rice - 04.02.2003
Associated British Foods plc has agreed to sell its Speciality Rice business in the US to Riviana Foods Inc. In the fiscal year 2002, the rice business's sales were approximately £22 million ($37 million). The Speciality Rice business is part of ACH Food Companies, the Group's US-based oils and ingredients operation.
Flour mills disposal - 25.02.2003
ABF today announced the completion of the sale of its British third party flour milling business to ADM Milling Limited, a wholly owned subsidiary of Archer Daniels Midland Company. Commenting on the announcement, ABF Chief Executive, Peter Jackson, said, "The disposal of the British third party flour milling business leaves ABF with a very effective, integrated flour milling operation, streamlining flour supplies to Allied Bakeries in a very competitive market".
GWF biscuit business - 01.08.2003
George Weston Foods announced the sale of its chocolate biscuit brands.
Back to top
2002
Allied Glass Containers - 16.12.2002
ABF today announced that it has sold its glass packaging business, Allied Glass Containers, to its management who are supported by Close Brothers Private Equity Limited. Commenting on the announcement, ABF Chief Executive, Peter Jackson, said, "This disposal reflects our continuing commitment to focus resources on businesses where we have strong and growing market positions".
Back to top
2001
Nelsons - Sep 2001
Associated British Foods has agreed to sell its Nelson of Aintree jams business to Hicks, Muse,Tate & Furst for an undisclosed sum. At September 16 2000 Nelsons had net assets of £6.9 million. ABF said although strong in some niches, Nelsons lacked the scale on its own to develop its full potential.
Back to top
2000
Allied Frozen Foods - 3.4.2000
ABF announced today (3.4.2000) that it has agreed to sell the ice cream business, Allied Frozen Foods Limited, to Richmond Foods plc for £18.8 million. In the year ended 18th September 1999, ABF's ice cream business had sales of £48.4 million and operating profits of £0.3 million.
ABR - 11.9.2000
ABF announced today (11.9.2000) that it has sold its UK starch business, ABR Foods, to French group Roquette Freres S.A. In the year ended 18th September 1999, the Corby based business, which employs around 100 people, had sales of £34 million and an operating loss, before an impairment provision, of £1 million.
Burtons - 30.10.2000
ABF announced today (30.10.2000) that it has sold its UK biscuit and sugar confectionery operation, Burton's Biscuits, to Hicks, Muse, Tate and Furst, the private equity group for £130 million debt free. Burtons has factories in Blackpool, Edinburgh and Llantarnam and in the financial year to 18th September 1999 had sales of £171.7 million.
BQP - Oct 2000
For a number of years, ABN had been a major breeder and processor of pigs but its operating results suffered from high volatility in pig prices. Subsequent to the year end we announced the phased sale of this business to Dalehead Foods with ABN continuing to supply feeds on a long term basis.
Rowallan - Oct 2000
Associated British Foods has announced that it has sold Rowallan Creameries, its industrial margarines and bakery fats business, to Hull based Anglia Oils. In the year ended 18th September 1999, Rowallan had sales of £29.2 million and profit before tax of £1.7 million.
Back to top
|
