Booker to sell seed unit for 29m

09 October 1998

Booker to sell seed unit for £29m

BOOKER, the food distribution group, has sold its Danish seeds business for Dkr305 million (£29m).

The seeds business, Daehnfeldt, is being bought by Hicks, Muse, Tate and Furst, a US equity group.

The business produces flower and vegetable seeds. It made a pre-interest profit of Dkr13.4m in 1997, and the sale price exceeds the net asset value of Dkr290m.

Booker has other disposals in the pipeline, including its US turkey-breeding business.

• Budgens pulls out of bid talks for Booker, FWi, 16 September, 1998
• Booker to sell peripheral businesses, FWi, 03 June, 1998
• CWS Agriculture to buy Broadoak, FWi, 14 May, 1998
• Booker wants out of agri-business, FWi, 18 March, 1998
• The Independent 09/10/98 page 21 (In Brief)
  
• Financial Times 09/10/98 page 22
  
• The Daily Telegraph 09/10/98 page 36
  
• The Herald 09/10/98 page 25