Associated British Foods to acquire Patak's
May 29, 2007
by FoodBusinessNews.net Staff
LONDON — Associated British Foods P.L.C. has agreed to acquire Patak’s, an Indian cuisine brand established in England in 1957.
The acquisition, which is expected to be completed by August, includes all Patak’s brand and assets in all countries except India. As of October 2005, the gross assets of Patak’s being acquired was £40 million.
Patak’s manufactures, markets and distributes Indian cooking sauces, curry pastes, chutneys as well as other Indian food products. In the United Kingdom, it supplies both the retail and food service sector.
"With its experience in the world food sector and international scale of operations, A.B.F. is the ideal strategic partner for the Patak’s brand," said Kirit Pathak. "Moreover, this partnership will reinforce the leadership position of the Patak’s brand in Indian food worldwide and significantly enhance the capacity of Patak’s to realize its full global potential as the reference Indian food brand."
A.B.F. has international business, which includes the Blue Dragon brand. Mr. Pathak will be chairman of the combined business of Patak’s and Blue Dragon and Meena Pathak will be the director.