ABF makes organic acquisition

By Ahmed ElAmin

- Last updated on GMT

Related tags: London stock exchange, Stock market

Associated British Foods (ABF) has dipped its foot into the growing
market for natural and organic products, reaching agreement to
acquire 20 per cent of W Jordan & Son (Silo) Ltd.

UK-based Jordan, a private company, manufacturers natural and organic breakfast cereals, bars under the Jordans brand. The company will remain under the control of its founders, the Jordan family. George Weston, ABF's chief executive, said the company would leverage its network and expertise in cereal-based branded foods both in the UK and internationally to help develop the Jordan business. He cited the Jordans brand as having a "strong and differentiated" consumer base through products that are marketed as incorporating natural and sustainable ingredients. "Jordansis a wonderful brand which is positioned well to benefit from the consumer's growing desire for natural ingredients and healthy eating,"​ he stated. Jordan has three manufacturing sites in the UK. The company had sales of £81m (€117m) for the year ended February 2007. The company's gross assets were valued at £40m (€58m) at 28 February 2007. ABF had global sales of £6bn last year and 75,000 employees. It is listed on the London Stock Exchange with a market capitalisation of £6.3bn. The Jordans breakfast cereal business was started by Bill and David Jordan in 1971, and is based on a policy of using ingredients with no artificial colourings, flavourings or preservatives.

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