According to reports by The Times, Clearwater International has been appointed to dispose of Holland’s Pies, in an effort to “rescue his business empire”.
The bakery has been running since 1851 and now produces one million pies per week.
The Times reports that Holland’s Pies, along with Donegal Catch which is also rumoured to be up for sale, would have a combined value of £50m.
A spokesperson for Boparan said the company “doesn’t comment on City rumour and speculation”. Clearwater has also been approached for comment by Food Manufacture.
Boparan Holdings reported a massive drop in operating profit for the second quarter of the year, down to £5.7m from £19.7m in the second quarter of 2017, which it attributed to “major challenges faced during the period”.
Ranjit Boparan announced he was stepping down as chief executive from the 2 Sisters Food Group earlier this year with ex-Müller boss Ronald Kers appointed in May. Boparan then stepped into the role of president of Boparan Holdings.