£250m jackpot from the potential sale of Tilda Rice

Posted on News Dec 2013 - by Tandoori Magazine
£250m jackpot from the potential sale of Tilda Rice
The suppliers of Basmati Tilda Rice and other Indian food products for more than four decades after they arrived in Britain, are considering a sale of the company for £250 million from the potential buyers. Tilda Rice, one of the UK's most prominent food brands.
 
Tilda Basmati rice is stocked by the UK curry industry catering and all the major supermarkets chain. T
 
Tilda has appointed investment bankers at Rothschild to oversee a review of options for the family's shareholding according to sources close to the company.
 
A sale at that price would cap a remarkable success story for the owners, who arrived in north London in the early 1970s cleaning and packing rice and pulses after their expulsion from Uganda by Idi Amin's regime.
 
They focused the company initially on targeting sales within the UK's fast-growing community of immigrants from India and Bangladesh but quickly realised the much broader potential demand.
 
Tilda employs over 200 people in the UK and exporting its rice products to India, one of the world's most voracious consumers of the food.
 
Tilda is expected to make earnings before interest, tax, depreciation and amortisation of roughly £25m this year, with food companies often trading at multiples of about ten times their annual profits.
 
"The group's main objective is for growth in sales and profitability," the company’s parent, Braunstone Properties, said in its most recent accounts filed at Companies House.
 
It added: "This will be achieved by building on the success of the existing brands in the EU and overseas markets, and by continuous improvements in operational efficiency."
 
A Tilda spokesman declined to comment on the appointment of Rothschild or on the shareholders' plans.
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