Grampian Country Food Group considers flotation
The pork and poultry producer could be valued at up to £300m.
01/03/05 Grampian Country Food Group, Scotland’s biggest private company, is considering a flotation that could value the pork and poultry producer at up to £300m.
Fred Duncan, Grampian’s chairman and biggest shareholder, travelled from Aberdeen to Edinburgh last week to attend a seminar for companies looking to float on the London Stock Exchange. Duncan has set his face against flotation in the past, but his position appears to have changed.
If valued on the same basis as other food companies, Grampian would be worth around £300m. But one City analyst said the company might command a low price ratio because of its exposure to low-cost food markets. If so, the group would be worth little more than £150m.
Despite its recent problems with the banned Sudan-1 additive, shares in Premier have risen by 29% since the company floated in July 2004.
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