Business Opportunities in India
British ABF acquires Patak's
Our Bureau
Date of posting: 31-05-07
      Associated British Foods plc (“ABF”) the international food, ingredients and retail group has announced on May 29 that it will acquire the business of Patak’s from the founding Pathak family. Completion is subject to a number of conditions, including regulatory clearances, which are likely to be satisfied by the end of August 2007. The business comprises the Patak’s brand and assets in all countries except India. The gross assets of the business being acquired as at 2 October 2005 were £40m. The price for the takeover was not disclosed. According to media reports, the transaction value is estimated by analysts to be around 100 million pounds.

      Patak’s is a leading and widely recognised brand in Indian cuisine. It was established in England in 1957 and has grown strongly in the UK and has also established a wide international presence with exports to over 40 countries. It manufactures, markets and distributes Indian cooking sauces, curry pastes, chutneys and other meal accompaniments from the Indian sub-continent. In the UK it supplies both retail and foodservice. Its major factory is in Leigh, Lancashire. Unaudited revenue for the year to 30 September 2006 was £66m. Members of the founding family will stay in the company in leading positions.

      Associated British Foods is a major international manufacturer of branded and private label grocery products, many of which are market-leading household names. Among the products are hot beverages (tea, malt-based), sugars & sweeteners, vegetable oils, bread and baked products, herbs and spices, and ethnic foods. With its other business areas, ABF is the second largest producer in the world of sugar with operations in Uk, Poland and China, and a leading ingredients producer. ABF runs also a major value retail group, operating 166 stores with 4.5 million sq ft of selling space in the UK, Ireland and Spain where fashion including womenswear, lingerie, childrenswear, menswear, footwear, accessories, hosiery and homeware is marketed.

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