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Co evolution.

Foodmark to Buy Macfish

The Danish group, Foodmark A/S, is to pay more than |pounds~18m. for Macfish. This is the Scottish fish processing organisation jointly owned by Geest and Associated Fisheries.

Back in March, as readers may remember, Geest announced they were seeking a buyer for their 50 percent stake, and this was followed by a similar announcement by Associated Fisheries. The jointly owned company is based at Fraserburgh and on Wearside.

Fitzwilton Acquires Wellworth

Fitzwilton Plc has purchased the leading Northern Ireland retailer Wellworth. The vendor was Isosceles and the price involved |pounds~122m.

Wellworth is being acquired by Erne Holdings Ltd, a joint venture company in which Fitzwilton is to have a 42.7 percent stake. A further 54.3 percent is being held by a group of institutional investors and the remaining 3 percent by the management of Wellworth but there is an option for Fitzwilton to buy out County NatWest Ventures Ltd, the leading institutional investor, after a year.

Wellworth has 33 stores throughout Ulster and 2 non food stores in the Republic, totalling 824,000 sq ft of selling space.

Booker Buys Eatfresh

Buckingham Foods has purchased the goodwill and assets of Eatfresh, a fresh sandwich and chilled snacks business based at Tamworth and Wigan. The book value of the fixed assets being acquired is |pounds~1.687m. and current assets are being purchased at valuation.

Buckingham is part of the Prepared Foods Group of Booker Plc and Eatfresh was owned by Grand Metropolitan Plc.

Buy-Out at Negretti

Negretti Automation Ltd has been acquired from Meggitt Plc by a partnership comprising Jeff Park, Bob Butcher and Alan Fanthom. Mr Park is the new chairman, Mr Butcher continues as managing director, Mr Fanthom remains as sales director, and all other personnel continue in their present roles.

This management buy-out or buy-in will allow the company to pursue their core business of industrial weighing and process control, and they aim to move to new premises very shortly.

Veitchi Acquires Copolan

Veitchi Group have acquired the manufacturing and contracting rights for Copolan Flooring. Ernie Hewkin and the contract teams have joined Veitchi at their Rugeley office to continue the development and installation of Copolan heavy duty polymer flooring.

Service Interface Formed

Service Interface is a newly formed alliance of independent service companies, and Michael Davis is managing director of this joint venture company.

Service Interface brings together Compass, Drake and Scull Technical Services, ISS International Service System, Leigh Environmental, Pinkerton Security Services and Sketchley Textile Services. Any combination of the alliance members' activities can be linked, and their services range from catering through cleaning, housekeeping, portering, security, workwear and linen management to technical services and information services.

This new organisation satisfies the contracting-out paradox because members of the alliance concentrate on their own 'core' business but readers wanting to find out how more can contact Mr Davies by telephone on 0753 645252.

Staveley Weighing and Systems Group

At the beginning of October Staveley Industries Plc announced the formation of Staveley Weighing and Systems Group. This group comprises Chronos Richardson, Weigh-Tronix and the Salter companies, and becomes one of the largest weighing and systems organisations in the world.

Salvatore J Vinciguerra is chief executive operations of the new group and, with his headquarters in New York, he is also serving as North American regional director. The European regional director is Derek V Sayer who is headquartered in Nottingham.

Calne Business Acquired by Sweet'n'Savoury

Sweet'n'Savoury Frozen Foods Ltd have acquired the plant and machinery of Allied Frozen Foods' gateau business in Calne, Wiltshire, and they are transferring production of Allied's product range to their specialist gateau factory in Hartlepool, Cleveland.

As readers will know, Sweet'n'Savoury are currently in the midst of a major investment programme at their Hartlepool site, to extend the gateau factory, provide new dry stores, laboratory and office space. Completion is planned for early next year.

General Mills Nabisco Purchase Cancelled

In our October issue we noted that General Mills was proposing to pay some $450m. to R J R Nabisco for their ready-to-eat cereal business.

We now have to inform readers that the latest reports tell us that the arrangement has been mutually cancelled due to the prospect that the various regulatory authorities in the USA would wish to review this purchase.

Booker Makes Spanish Acquisition

Booker has purchased a cash and carry business in Spain. The UK company now holds 91.25 percent of the shares, whilst the remainder is being held by the vendors, Cemasce, who are also leasing the building to the new company in which Gerard Duelo is the executive director.

The consideration was |pounds~2.2m. plus stock at valuation and the outlet they have bought, covering 247,000 sq ft, is situated about 6 miles outside Barcelona.

Management But-Out at Express Foods

Express Foods has become an independent company as the result of a |pounds~96m. management buy-out from Grand Metropolitan Plc.

As readers will know, the company has a foodservice division that operates one of the most extensive chilled distribution systems in the UK. In fact, they make around 7000 deliveries a week to wholesalers, independent retailers and the hospitality and catering trade.

The buy-out team was lead by managing director Roger Davenport but the deal involves all the current directors of Express Foods and many of the company's middle management team at its ten sites. Simon Oliver is also investing money in the new company and has become non executive chairman of it.

Albert Fisher Buys Branston

Albert Fisher Europe has purchased Branston Produce, the manufacturer of frozen vegetables. Branston Produce is being incorporated into Fisher Frozen Foods and David Dunn, previously managing director of Branston Produce, has joined the Board of Fisher Frozen Foods as production director.

Sous Chef Bought by Heinz

Sous Chef Ltd has been purchased by the H J Heinz Co Ltd.

As readers may remember, Sous Chef pioneered the concept of ohmically-heated and produced long life food products. The technique itself was developed by E A Technology and engineering development was undertaken by APV Plc.

Kane-May Reorganise

The manufacturing and marketing of products from Kane-May and Comark have been combined, following a group reorganisation. On October 1st the group company became Kane International Ltd, with Kane-May and Comark now comprising one of the operating divisions - KM-Comark Test and Measurement.

Readers needing information about Kane-May or Comark products should use the address at Swallowfield, Welwyn Garden City.

Farmers' Glory Sold by Reed Boardall

The processing and marketing operations of Farmers' Glory Ltd, the North Yorkshire turkey producers, have been acquired by Frank Cosgrove. Mr Cosgrove has proposed a programme of extensive investment and development for the company.

UB to Acquire CCA

We hear that United Biscuits plans to acquire the snack food business of Coco-Cola Amatil for |pounds~195m. CCA is an Australian beverage group but the part of the business changing hands will be renamed Smiths Snackfood.

Hawes Creamery Sold

The Hawes creamery in Wensleydale, which closed last May, has at last been sold. The |pounds~300,000 deal means that cheese-making will now start again, so ensuring the continuation of a centuries-old tradition in Wensleydale.

The former owners, Dairy Crest, have sold the creamery to a group that includes four former members of the company's management team. We understand that most of the money for the purchase has come from John Gibson, a Masham-based businessman.

Kwik Save Buys Some Grandways

Reports tell us that Kwik Save, the discount chain, has purchased a dozen Grandways supermarkets from William Jacksons who had already sold a further nine supermarket outlets to the Argyll Group.

The stores purchased by Kwik Save are all located in the Yorkshire and Humberside area and the price paid is said to be |pounds~13.6m.

Heinz Buys Watties

The H J Heinz Co have completed a deal to purchase Wattie Foods, New Zealand's largest canned and frozen food group. According to reports the price paid to the former owners, Goodman Fielder Wattie of Australia, was US$308m.

Further, we learn that the money raised by the sale will be used by GFW to acquire Uncle Toby's an Australian cereals company.
COPYRIGHT 1992 Food Trade Press Ltd.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

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Title Annotation:acquisitions and formation of companies in food industry
Publication:Food Trade Review
Date:Nov 1, 1992
Words:1362
Previous Article:tm: a selection of trade marks and brand names registered in the last month.
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