Daniels Group, which produces the New Covent Garden Soups Co. range, may be sold by owner SATS

Daniels Group, which produces the New Covent Garden Soups Co. range, may be sold by owner SATS

The owner of Daniels Group, which produces the New Covent Garden Soup Co. range, has confirmed it is in negotiations to sell the company.

The board of directors of in-flight catering and airport management firm Singapore Airport Terminal Services (SATS) has released a statement confirming they are in talks with potential buyers.

A statement on the company's website said: “SATS periodically reviews options and opportunities that are in line with its business strategies and its objective of enhancing shareholder value.

“As part of its strategic review of options for the Daniels Group, the company is in discussions with third parties in connection with a potential sale of the Daniels Group.”

However, the board conveyed that the sales process is far from over.

“SATS wishes to emphasise that discussions are presently at a stage where there is no certainty that a definitive agreement may be arrived at and no transaction may materialise from these discussions,” they added.

“In the event that the sale does not materialise, the Daniels Group will remain as part of SATS.”

The directors of SATS also advised shareholders to "exercise caution" when dealing in their shares. In August, Daniels Group overhauled its New Covent Garden Soup Co. range in the biggest revamp in the brand's history.