The owners of UK firm Pasta Reale have decided against a possible sale of the company, its chief executive has told just-food.
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John Freestone said the owners of the Sussex-based business, the Lopalco family, would hang on to the business that they founded almost 30 years ago.
“Having completed the review of the best strategic options for the business, and their personal requirements, the shareholders have decided that the business will retained,” Freestone said late last night (13 February).
The Lopalco family had been mulling a sale among other options, after receiving a number of unsolicited approaches for the business.
Pasta Reale had received a number of firm bids with speculation linking Northern Foods to the business.
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By GlobalDataFreestone had refused to be drawn on the identity of the bidders. He said yesterday that he was “delighted” with Pasta Reale’s performance.
“The business is seeing good profits and we expect to continue to grow,” Freestone said.
