16 March 1999
Terranova rejects £230m Unigate bid

TERRANOVA Foods, the fresh foods group demerged from Hillsdown Holdings last year, has rejected a bid from Unigate that would have valued the business at £230 million.

The offer was rejected “out of hand” by Terranova, although Unigate is expected to mount another offer.

Terranova last week reported a fall in operating profits from £27.3m to £25.3m.