UK-based private-label supplier Bakkavor has declined to comment on reports it is preparing to float the company.

According to a report in The Sunday Times, Bakkavor is among “a pack of British companies exploring plans to join the market later this year with its long-term adviser Rothschild”.

However, a spokesperson for Bakkavor told just-food today (16 January) the business had no comment to make on the IPO “speculation”.

In May, Bakkavor indicated it would “accelerate” its capital investment programme having booked higher earnings for the first quarter of the year.

In August, the company reported an acceleration in its like-for-like sales in the second quarter, which supported increasing half-year sales and profits.

Last month, Bakkavor said it was stepping up a year-long recruitment push to meet what it said was continued “increasing demand” for its range of products. The company told just-food then it had invested in its Newark facility in Nottinghamshire “to increase capacity and strengthen our desserts capabilities”.