Brake Bros ready to bid for Booker
THE Brake family is prepared to see a dilution in its 40% shareholding in Brake Bros if the food service company wants to make an acquisition.
Brake Bros is currently bidding for the catering supply operation of Booker, the food distribution group, which is worth up to £120 million.
The Brake family said they would support a rights issue to finance the right deal so that Brake Bros can afford to buy Booker.
Brake Bros reported pre-tax profits 10% up at £30.1m for 1998 and its chilled food division saw sales rise by almost 25% to £28.5m.
- Four bidders for Booker, FWi, 03 March, 1999
- The Times 25/03/02/99 page 35
- Financial Times 25/03/99 page 25
- The Daily Telegraph 25/03/99 page 38