Alumasc sells drinks division in MBO
Northampton-based Alumasc has sold its drinks dispensing division to management for £900,000. The building and engineering products company said the subsidiary was “no longer a core activity”.
Alumasc Dispense has now been renamed ADS2 Brands.
Alumasc said the sale was a result of its decision to focus on sustainable building product and precision engineering activities.
Paul Hooper, chief executive, said: “The divestment of Alumasc Dispense and the sale of surplus land announced two weeks ago have together generated a total of £2.1m in cash from non-core assets, and this is consistent with the group’s increased strategic focus on its Sustainable Building Product and Precision Engineering activities.”
In a statement, the company said Alumasc Dispense had been operating “in difficult market conditions for the last two years”.
