UK: Brake Brothers agrees to £434m takeover
After two months on the market, British foodservice supplier Brake Bros has today [Tuesday] found a buyer in the shape of private equity firm Clayton, Dubilier & Rice (CD&R). The board of CD&R, through its CDRP Acquisition PLC subsidiary, offered a cash deal of a £8.25 (US$12.39) per Brake Bros share. This represents a premium of 39% to the closing middle market price of £5.925 per Brake Bros share on 8 March 2002, when the firm said it would consider a sale as there is no obvious successor following the imminent retirement of 68-year-old chairman Frank Brake.
Get full access to all content, just $1 for 30 days
A Message From The Editor
just-food gives you the widest food market coverage.
Paid just-food members have unlimited access to all our exclusive content - including 17 years of archives.
I am so confident you will love complete access to our content that today I can offer you 30 days access for $1.
It’s our best ever membership offer – just for you.
Dean Best, editor of just-food
- 2017: three major drivers of M&A strategy
- just-food 2017 Survey - your thoughts on growth
- The food market in 2017 - consumer trends and M&A
- Food market in 2017: need-to-know US trends
- 2017 - what will shape the UK food sector?
- Premier Foods issues profit warning
- UK's Bakkavor plays down IPO "speculation"
- Ferrero insists Nutella not pulled from shelves
- Lindt sees FY sales acceleration on Europe growth
- Unilever sets packaging target