RGF: shareholders approved sale of sugar arm

Liverpool / UK. (rgf) British Real Good Food Company PLC is a diversified food business, serving a number of market sectors including retail, manufacturing, wholesale, foodservice and export. The Company is a major distributor of sugar in the United Kingdom through its Napier Brown subsidiary, and manufactures a wide range of baking ingredients, jams and sweet bakery products. Its brands include Whitworths Sugar, Renshaw and R+W Scott. At an Extraordinary General Meeting of the Company, held on May 14, shareholders approved a resolution authorising the Board to proceed with the proposed sale of Napier Brown Sugar Limited to the French Tereos Group for 34 million GBP plus net working capital at Completion, as announced in April 2015. With the acquisition of Napier Brown Sugar Limited, Tereos strengthens its positions in the United Kingdom, a strategic market for Tereos in the context of the end of the EU Sugar Regime. Founded 90 years ago, Napier Brown is Europe´s largest independent sugar distributor and distributes around 300’000 tons of sugar per year. Napier Brown´s retail brand, Whitworths Sugar, is very popular among UK customers and its retail distribution business has experienced strong growth over the past few years and enjoys a market share of over 20 percent. Napier Brown is also a major partner for the food industry with a market share of over 15 percent. Napier Brown has 150 employees and operates from two sites. Its logistics platform in Stallingborough, Lincolnshire, is dedicated to the import and the distribution of industrial sugars and is located to the east of the «M62 corridor», the largest food production area in the UK. Its commercial and retail packing site in Normanton, Yorkshire, produces a broad range of sugars for retail distribution.