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Top story
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Path cleared for Boparan takeover
Irish food group Greencore has revealed it is bowing out of the takeover battle for Northern Foods leaving the path clear for Birmingham entrepreneur Ranjit Boparan. Greencore said it had explored obtaining funding to acquire the parts of the Northern Foods branded business with what it described as the "greatest synergy potential". However, it has now decided not to proceed with this course of action.
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Deals
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Hill & Smith takes TPG in £27m deal
Hill & Smith, the Solihull-based supplier to the construction industry, has acquired a North American company for $45m (£27.8m). Hill & Smith said the purchase of The Paterson Group (TPG) would create a "global leading supplier" of pipe supports.
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Vendor initiated exits on the rise, says advisory firm
VIAMBO deals are gathering pace, according to national audit, tax and advisory firm Crowe Clark Whitehill. The Kidderminster-based firm said that owners were increasingly using the method of 'Vendor Initiated Assisted Management Buyouts' to exit their businesses.
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Property
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Cadbury warehouse sold
Cadbury’s distribution centre at Midpoint Park, Birmingham, has been sold for £24.7m. The 403,000 sq ft warehouse, one of the largest chilled warehouses in Europe, was acquired by US investor Cabot Properties.
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£7.1m restoration scheme launches
A multimillion-pound regeneration scheme has been launched in Blurton, Stoke-on-Trent. The £7.1m Ingestre Square project is to create homes, shops and community facilities in the area.
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Warwickshire AD plant green lighted
Planning permission to construct an anaerobic digestion (AD) plant in Warwickshire has been approved. The plant is to treat up to 45,000 of food waste per year and the electricity produced aims to meet the demand of up to 2,000 homes in the region.
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Business
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Final call for this year’s ‘42s’
Midlands Business Insider is still seeking nominations for its 2011 42 under 42 feature but the final deadline is looming. To be considered for this year’s feature, completed nomination forms will need to be back with us by Friday 25 March.
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New body aims to help schemes LEP ahead
Communities secretary Eric Pickles has announced plans to create a formal representative body for the new local enterprise partnerships (LEPs).
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New West Mids agent at Bank of England
The Bank of England has appointed a new deputy agent for the West Midlands. Glynn Jones takes on the position having worked for Advantage West Midlands (AWM).
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Belton Cheese signs Tesco deal
Belton Cheese, based in Shropshire, has secured a deal to supply Tesco with three lines for their Finest cheese range. The new products represent a retail value of £1.5m, said the company.
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