UK-based food products giant Associated British Foods Plc announced that it had agreed to buy the overseas businesses and assets of Indian food company Patak’s Foods Ltd from its founding family, the Pathaks.
The deal, however, does not include the business and assets of Patak’s in India.
Though details are not known analysts predict that this could be 105 million pounds deal. AB Foods said Kirit Pathak would assume the position of chairman of the merged entity while his wife and development director Meena Pathak would become a director.
The company, which is now based in Wigan, Lancashire, has grown into a curry empire with annual sales of around £70m. It makes 30 million jars of curry sauce and 1.5 million ready meals a year and supplies 6,000 restaurants, cash and carries and supermarkets.
AB Foods said these products will boost its world foods business, which includes the Blue Dragon brand of Chinese, Malaysian and Thai foods.
Source: The independent
