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
- US food next wave on display at Winter Fancy Food
- Comment: Meal kits in US - don't believe the hype
- How General Mills plans to grow - CAGNY
- Does Kraft Heinz want to swallow Unilever whole?
- Wessanen eyes growth in "resurgent" organic market
- Unilever launches operational review
- Kerry operating earnings strengthen on slow sales
- Glanbia focuses on nutrition with Irish dairy spin
- Kerry's Scanlon to replace McCarthy as CEO
- Kraft Heinz pulls Unilever bid