S Daniels has received an offer from its biggest stakeholder, Singapore Food Industries, valuing the 70% of the chilled food and fresh juice maker it doesn’t already own, at £23.4m.
S Daniels has had a disastrous year dogged by operational problems and a slump in demand from catering outlets. It is the parent company of New Covent Garden soups, Johnson's fruits and juices and the delicatessen and salads business of All Fresh Foods.
SFI said the acquisition would consolidate its position in the UK market. It believes the chilled convenience food sector will continue to grow at a rate substantially above the rate of growth in the overall food sector.
By midday Daniels shares had jumped 42% on the news, up 4p to 13.5p.
S Daniels has had a disastrous year dogged by operational problems and a slump in demand from catering outlets. It is the parent company of New Covent Garden soups, Johnson's fruits and juices and the delicatessen and salads business of All Fresh Foods.
SFI said the acquisition would consolidate its position in the UK market. It believes the chilled convenience food sector will continue to grow at a rate substantially above the rate of growth in the overall food sector.
By midday Daniels shares had jumped 42% on the news, up 4p to 13.5p.
No comments yet