Associated British Foods PLC
11 September 2000
ABF sells UK starch business.
Associated British Foods, the international food, ingredients and retail
group, announced today (11 September 2000) that it has sold its UK starch
business, ABR Foods, to French group Roquette Freres S.A. In the year ended
18th September 1999, the Corby based business, which employs around 100
people, had sales of £34 million and an operating loss, before an
impairment provision, of £1 million.
The world market for starch is characterised by a small number of very large
international players. Although operating a modern and efficient facility, as
a small independent producer ABR would struggle to grow and develop in such a
competitive environment. ABF has therefore concluded that the best
interests of the business will be served by its sale to Roquette for which
starch is core to its activities.
ABF Chief Executive, Peter Jackson said, 'The sale of our UK starch interests
is another step forward as we continue to focus our activities in markets
where we are well positioned to maximise shareholder value.'
For more information, please call:
John Bason
Finance Director
Tel: 020 7589 6363
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