Pasta Reale, the UK firm said to be attracting attention from suitors including Northern Foods, is close to deciding whether to put the business up for sale, its chief executive has told just-food.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
John Freestone played down reports that the Sussex-based business is already on the block but said the company’s owners, the Lopalco family, is considering its options.
“The review is live and it should be clear where we want to go within the next 36 hours,” Freestone said.
The Lopalco family is mulling a potential sale, among other options, after receiving a number of unsolicited approaches for the business, Freestone said.
Pasta Reale has since received a number of firm bids, the chief executive added, although he declined to comment on whether Northern Foods had made an offer.
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 GlobalDataFreestone, who has been with the company for 15 years, also refused to be drawn on the identity of any of the rest of the bidders.
“I am delighted with the way the business is performing. This isn’t a fire sale; the business is seeing good profits and we expect to continue to grow,” Freestone said. “I don’t see the business as some sort of problem child. The shareholders are in their seventies and are approaching the time when anybody would consider what to do with their life span.”
Northern Foods, the company behind brands from Fox’s biscuits to Goodfella’s pizza, remained tight-lipped when contacted by just-food yesterday.
“We have a strategy of making bolt-on acquisitions to support our ambitions for growth in chosen markets [but] we don’t make any comment on speculation,” a Northern Foods spokesperson said.
Pasta Reale produces a range of pasta, gravies, sauces and soups under its namesake and Joubere brands.
