Batchelors get new partners in €95m deal

British group Northern Foods is to sell its Irish operations, including Batchelors, to a new company called Maiden Acquisition Company, that has been formed jointly by Barry’s Tea and Bank of Ireland Scotland.

The new company is equally owned between the buyers who will pay €95m in cash to Northern Foods, one of Britain’s largest food manufacturers.

Northern Foods supplies to Marks and Spencer’s and its products include Goodfellas pizza and a range of frozen foods.

The operation includes Batchelors, known nationally for tinned peas and beans, and Beck Smith, makers and distributors of a range of food and drink products.

The companies made pre-tax profits of €7.9m on sales of €76m in the year to March 20 2003.

The new owners have said the purchase will not affect the Batchelors business which has 280 employees, but that three Maiden representatives are to join the board.