BTG McInnes Corporate Finance Secures Disposal of Food Processing Plant
BTG McInnes Corporate Finance has just secured a deal for the sale of an abattoir and boning plant on behalf of Portsmouth-based food processing business The Chitty Food Group Ltd.
The Guildford-based plant was sold to Anglo Beef Processors (ABP) for an undisclosed sum. The Midlands-based company is actively expanding its beef cattle procurement and processing operations across the south of England and the purchase of the Guildford plant – together with that of a Dorset abattoir earlier this year – has increased ABP’s capacity by around 1500 cattle a week.
“ABP is one of the largest beef processors in Europe and the Guildford acquisition has enabled it to secure the best geographical spread of facilities in the UK processing industry,” says Rosemary Penn-Newman, who heads the BTG McInnes Corporate Finance team in Southampton.
“The Chitty Food Group deal demonstrates ABP’s real commitment to sourcing and processing beef from across the UK and will further strengthen its relationships with beef farmers across the South of England who will be able to process their animals within their own region.
“The positive outcomes of this disposal demonstrate that, despite the global economic downturn, there are genuine buyers out there looking to expand their operations by acquiring the assets of other businesses.”
The Chitty Food Group was established in 1910 as a high street butcher and is still in the ownership of the Chitty family.
Julie is a law graduate who qualified with Price Waterhouse in 1994. Julie joined Smith & Williamson in 1997 and became a partner in 2001. With Mike Stevenson, Julie set up Middleton Partners offices in Salisbury and Southampton, both of which are now part of Begbies Traynor.
Julie is a member of the Insolvency Practitioners Association and the None Administrative Receivers Association and is a Fellow of The Association of Business Recovery Professionals. Julie deals with all aspects of Corporate Recovery and turnaround work and takes all form of personal insolvency appointments.