Foods group Uniq's plans to demerge Wincanton, its logistics business, could spell the exit of both companies from the UK stock market.

Speculation that the logistics business could become a takeover target after the demerger is growing, providing Uniq's management with a chance to take its food business private.

Wincanton is expected to be valued at between £215m (US$307m) and £250m when it begins trading in mid-May under its own name. Wincanton began life in 1925 as the transport and engineering arm of Cow & Gate. The division, which collected milk churns from farms, became part of Unigate when Cow & Gate merged with United Dairies in 1959.