2004 press releases

Northern’s subsidiary Cavaghan & Gray Group Limited has sold its Emile Tissot business to Dawn Fresh Foods Limited, part of the Queally Group in Ireland, for a cash consideration of £3.5 million. The net assets disposed of were £5.8 million.

Emile Tissot produces frozen ready meals for the foodservice sector at a factory in Telford, Shropshire. Its sales in the year ended 31 March 2004 were £9.5 million and it employs just over 100 people, who will transfer to Dawn Fresh Foods. The business was acquired by Northern as part of its acquisition of Cavaghan & Gray Group plc in 1998.

This disposal continues Northern’s programme of adjusting its portfolio of activities to align the Group ever more closely with some of the fastest growing sectors of the food market, and to increase its focus on leading retailers. It follows the disposal of Batchelors and Beck Smith earlier this year and Fox’s Confectionery in 2003, when the Group also acquired the remaining 60 per cent of Solway Foods and the San Marco frozen pizza brand.