UK: ABF sells British starch business to French group
The international food, ingredients and retail group, Associated British Foods Plc has announced today that its UK starch business ABR Foods has been sold to French group Roquette Freres SA. Corby-based ABR is currently a small independent producer, which would find it difficult to compete among the few international firms that supply the starch market. Employing about 100 people and completing sales of £34m in the year ending September 1999, the company was sold for an undisclosed amount.Peter Jackson, CEO of ABR Foods, was positive about the benefits of new ownership: "This is another step forward as we continue to focus our activities in markets where we are well positioned to maximise shareholder value."
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