A senior British MP has called for the UK pensions regulator to investigate the “imminent sale” of Europe’s largest turkey manufacturer, UK-based Bernard Matthews.

Frank Field, who chairs the House of Commons Work and Pensions Committee, told Sky News a probe into the sale was needed after it emerged Boparan Holdings-owned 2 Sisters Food Group could acquire Bernard Matthews as soon as today (20 September) under a “pre-pack administration deal” – where a buyer is lined up to take on a company’s assets, but without liabilities such as its pension deficit.

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2 Sisters and Bernard Matthews’ majority owner, private-equity firm Rutland Partners, have as yet declined to comment on the reports.

However, Field, a former welfare reform minister, stepped up pressure for an investigation after the UK’s biggest trade union, Unite, told just-food yesterday a second potential buyer was also looking at taking on Bernard Matthews.

Field told Sky News: “The new employer must not be allowed to get away with dumping the Bernard Matthews’ pension scheme into which workers have paid. The Pensions Regulator needs to act robustly and quickly to stop such activities being mimicked by other asset buyers who wish to dump pension liabilities. We cannot have firms changing ownership at the price of pensions being dumped with the Pension Protection Fund – such dumping involves promises being broken, and the cuts in benefit that result.”

It was confirmed in June that Rutland Partners was considering selling Bernard Matthews. A spokesperson for advisory group PricewaterhouseCoopers told just-food it had been appointed to assess options for the business. 

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In July, Bernard Matthews said it had exchanged contracts to sell its German subsidiary, Bernard Matthews Oldenburg, to Germany’s Sprehe Gruppe. Bernard Matthews said the proceeds from the sale would reduce group debt by EUR14m (US$15.5m). 

The Pensions Regulator could not be contacted for comment by just-food.

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