17th Oct 2005 08:00
Arla Foods UK PLC17 October 2005 17 October 2005 ARLA FOODS UK plc ("Arla") Disposal of London Food Service business to Dairy Crest plc ("Dairy Crest") ___________________________________________________________________________ Arla announces that it will dispose of the business and fixed assets of itsLondon Food Service business to Dairy Crest, for a cash consideration of £4.0million, which will be used to reduce Group borrowings. The business comprisessales to caterers, shops and households in London and the surrounding areas,distributed from operations at Ruislip, Bloomsbury and Nine Elms sites. Includedin the sale is the freehold of the Nine Elms site. In the 18 months to 30September 2004, the business made an operating profit of £2.0m, and as at 30September 2004 had gross assets of £3.2m. The disposal is expected to complete on 29th October 2005 following aconsultation period with employees. For further information, please contact: Arla Foods UK plc 0113 382 7000 Tim SmithNigel Peet Hudson Sandler 0207 796 4133 Michael SandlerJames Benjamin This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Dairy Crest