2 Sisters Takes Another Major Step in Business Transformation
2 Sisters Food Group has announcing another major step in transforming its business with a disposal which will allow it to focus on strengthening its core operations. 2 Sisters has agreed to sell its Manton Wood sandwich business to Samworth Brothers, the UK-based family owned group that produces chilled and ambient foods, both own label and branded.
Located at Manton Wood, Nottinghamshire, it produces a range of retailer chilled sandwiches, wraps and rolls. The finalisation of the transaction is subject to customary closing conditions and regulatory clearances, which are expected to be completed in the coming months.
Ranjit Singh, president of Boparan Holdings, the parent group of 2 Sisters, comments: “This transaction is a significant deal and marks another positive step forward in the transformation of our business. It further strengthens our balance sheet, with a combined total of more than £350m in cash proceeds from the three disposals we have made in the past six months. As a Group we are following through with our promises and focusing on our key strengths.”
Ronald Kers, chief executive of 2 Sisters Food Group, adds: “Our transformation is progressing well as we continue to give greater focus on our core, strengthen our management team and improve our operational performance.”
