27 October 1998
Booker sells its fish processing division

TROUBLED food group Booker has sold its fish processing business to a management team backed by the private equity specialist Legal & General Ventures.

The purchase price of £47.5 million takes the total amount raised from Booker disposals to £160m in the past four months.

The proceeds will be used to reduce Bookers borrowings which were £460m at the end of June. Debts are still believed to be above £300m.

The company said plans to sell its Arbor Acres poultry breeding business were on “on hold”.