UK: Brake Brothers up for grabs
UK catering group Brake Brothers effectively put itself on the market yesterday when it announced it had appointed Credit Suisse First Boston to carry out a strategic review. The move was prompted by co-founder Frank Brake's decision to retire. The Brake family owns 58% of the business, which was formed by the three brothers Frank, Peter and William in 1958. The business, which started out supplying poultry to caterers and launched its frozen food distribution division in 1963, was floated on the London Stock Exchange in 1986. Following a series of acquisitions, the company now owns brand names such as Larderfresh, Puritan Maid, Watson & Philip Foodservice and M&J Seafoods.
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