New name on the cards for Unigate

6 June 2000



New name on the cards for Unigate

UNIGATE, the food and distribution group, is to change its name following the sale of its dairy sector, reports the Financial Times.

The company said this was because the name Unigate was strongly linked with its cheese and milk business recently sold to Dairy Crest for 250m.

A new name will be announced later this month.

Dairy Crest will retain the right to use the name Unigate for its newly-acquired business.

Unigate finance director John Worby said the company had 200m-300m to spend on acquisitions.

Trading remains tough for Unigates Malton Foods division which has been hit by a margin squeeze due to increased UK pig prices.

Consequently, the amount of Continental pork brought in has more than tripled in the past year to about 40% of the total.

Unigate pre-tax profits fell 12.4% to 124.3m before a 74m charge to cover Malton closures and other closures, reports the Daily Express.

Malton profits fell from 27.2m to 15.4m over the year.

The FT says the Unigate name change is the finishing touches to wide-ranging changes which have seen the focus shift from dairy produce to convenience foods.