Insider: 2 Sisters to target Bakkavör next
2 Sisters hit the headlines again in June with the firm rumoured to be plotting a takeover of some or all of chilled food firm Bakkavör’s UK facilities, according to a 2 Sisters source.
Despite no direct approach having been made and Bakkavör’s aversion to any deals, the 2 Sisters source said its owner and founder Ranjit Boparan “would love to get his hands on Bakkavör”.
“There have been intermediaries in the City trying to form a deal. The Vion deal has complicated the timing as Vion is losing a lot of money. Once it starts making money in a year or two, Bakkavör will be the next target.”
Authorities only cleared 2 Sisters’ acquisition of most of Vion’s UK operations in mid-June and that, plus its takeover of Northern Foods in 2011, could have left it light on capital, which might hamper Boparan’s designs on Bakkavör.
A spokesman for 2 Sisters said: “It’s our policy not to comment on rumour and speculation.”
A Bakkavör spokesman remained equally tight-lipped: “We don’t comment on market speculation.”