UK food manufacturer 2 Sisters Food Group has announced that it has reached an agreement to sell its Manton Wood based, sandwich business to Samworth Brothers.
The finalisation of the transaction is subject to customary closing conditions and regulatory clearances, which are expected to be completed in the coming months.
The Manton Wood unit in Nottinghamshire produces a range of chilled sandwiches, wraps, and rolls that are supplied to retailers.
'A Significant Deal'
President of Boparan Holdings Ltd, Ranjit Singh called it a “significant deal” and added, “This deal ensures Manton Wood is sold to a good new home that will enable it to continue to flourish and thrive.
"Any sale we make has to be at the right time, with the right buyer, and it has to be a deal that fits with our long-term strategy. This deal does just that."
In the past six months, 2 Sister's Food Group made three disposals, including 2 Sisters Red Meat Limited, which strengthened the company’s balance sheet by adding more than £350 million (€397 million) in cash proceeds.
CEO of 2 Sisters Food Group, Ronald Kers, said, “Our transformation is progressing well as we continue to give greater focus on our core, strengthen our management team and improve our operational performance.”
© 2018 European Supermarket Magazine – your source for the latest retail news. Article by Dayeeta Das. Click subscribe to sign up to ESM: European Supermarket Magazine.
