2008 press releases

Northern Foods plc ('Northern Foods' or 'the group') announces that on 10 January 2008 it completed the acquisition, from Baxters Food Group Ltd ('Baxters'), of Baxters' chilled soup manufacturing plant and fixed assets in Grimsby ('the facility') for an undisclosed cash sum.  At 2 June 2007 (being the last reported accounts date for the facility), the facility had gross assets of £9.0 million.  No existing business will transfer from Baxters with the acquisition. 

The acquisition will create a bespoke production site for Northern Foods’ growing soup business.  The 70,000 ft2 site, which was built in 2001, is highly automated and currently employs 48 people. 
 
Commenting, Stefan Barden, Chief Executive of Northern Foods, said:

"This transaction underpins our commitment to grow within our chosen markets and complements our recent purchase of Ethnic Cuisine. With both our soup and ready meal capacity increasingly constrained, buying the Baxters facility provides us with an additional high quality manufacturing facility, in a cost-efficient manner, without adding new capacity into the industry."

Commenting, Audrey Baxter, Chairman and Chief Executive of Baxters, said:

"I would like to take this opportunity to thank everyone at our Grimsby operation for all of their hard work over the years and wish them and Northern Foods continued success at the site."