UK-based own-label supplier Bakkavor is in the process of hiring banking advisers to sell stakes in the business owned by a number of investors.

just-food understands bankers will be appointed to handle the disposal of chunks of the group. However, CEO Agust Gudmundsson and his brother Lydur do not plan to sell the 39% of Bakkavor that they own.

Sky News today (11 August) reported Barclays was close to being signed to look for buyers of a 25% stake in Bakkavor owned by Arion Banki.

Other Bakkavor shareholders, including the Pension Fund of Commerce and the Gildi Pension Fund, may also look to sell their shares, Sky News added. Between them, the two investors own a further 12% of Bakkavor.

Bakkavor declined to comment when contacted by just-food today.

The company is set to report its half-year results on Thursday.

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By GlobalData