Chicken magnate serves up Northern delist

By Ben Bouckley

- Last updated on GMT

Related tags: Northern foods, Stock market, Food

Chicken king: Before wooing Northern shareholders, Ranjit Boparan made his money in poultry
Chicken king: Before wooing Northern shareholders, Ranjit Boparan made his money in poultry
Midlands businessman Ranjit Boparan today served notice of his intention to delist Northern Foods from the stock exchange as he declared his £342m bid wholly unconditional and edges towards taking the company private.

An announcement from Boparan Holdings said that, since Irish regulators had now given their blessing to the £342m deal, and Boparan now controls more than 75% of Northern’s existing share capital, he had given 20 days notice of Northern’s delisting from London Stock Exchange, and expected this to occur on or around May 11.

Our sister publication The Grocer​ reported today that, in a letter sent to Northern Food employees, 2 Sisters Food Group owner Boparan wrote: “I am delighted the acquisition is now absolutely certain and the two companies can start working together.

“Already I have visited nearly all Northern Foods’ locations and have had the opportunity to talk with a number of colleagues directly.

“The passion and dedication at every site has been simply brilliant and I’m looking forward to working with Northern Foods colleagues in the future.”

However, the union leader co-ordinating the response to Boparan’s takeover of Northern told FoodManufacture.co.uk late last month that she was worried​ about what she described as an “open-ended commitment”​ on the future of sites and staff.

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