The UK’s largest supplier of frozen food to restaurants, Brake Brothers, could be facing a takeover bid from South African service and investment group Bidvest.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
Already running foodservice units in Australia, South Africa and the UK, Bidvest made a formal submission to the Office of Fair Trading yesterday [Monday] to obtain consent for the potential deal.
Brake Brothers, which posted pre-tax profits of £29.5m (US$42.2m) on sales of £1.39bn in 2001, has so far declined to comment on the possible takeover, but Bidvest, which is listed in Johannesburg and Sydney, did admit that such a deal “has compelling commercial logic”.
Brake Brothers last month effectively put itself up for sale when it announced it had hired Credit Suisse First Boston to carry out a strategic review. For more information, just-food.com members should click here.
To find out about the benefits of full membership of just-food.com and to view the April promotional offer, click here.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
