UK convenience food maker Addo Food Group has declined to comment on reports it is set to be sold to local private-equity firm LDC house in a deal said to be worth GBP100m (US$125.8m).
LDC, which is based in the UK, is reportedly “lining up a move for Addo”, which owns brands including Pork Farms, Wall’s, Millers and Bowyers, according to TheBusinessDesk.com.
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An Addo spokesperson told just-food: “We are not commenting on the story.” A spokesperson for LDC told just-food the private-equity firm would “not comment on media speculation”.
The reported deal follows Addo’s announcement last month that jobs were likely to go at its Riverside Bakery site in Nottingham. A spokesperson for the site, which Addo said is the UK’s largest manufacturer of chilled quiche, told just-food then the decision was taken “to make changes to our structure in order to ensure the continued success and health of the business”.
The Riverside announcement came just weeks after Addo said jobs were likely to go at a second facility in Spalding, Lincolnshire, in a drive to boost efficiency.
Riverside is one of Addo’s six business units, which include Spalding Bakery, Dorset Foods, Palethorpes Bakery, Poole Bakery and Tottle Bakery.
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By GlobalDataAddo was known as Pork Farms Group until the autumn of 2015. The company changed its name in the wake of its acquisition of Kerry Group’s chilled savoury pastry business.
