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Article: Walker returns to Helm at UK's Iceland following takeover.(The Green Scene)
- Article from:
- Quick Frozen Foods International
- Article date:
- January 1, 2005
CopyrightCOPYRIGHT 2005 E.W. Williams Publications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Malcolm Walker, who left the Iceland frozen food chain under a cloud in 2001, is making his big comeback now that Baugur Group (which is Icelandic) has closed a 326 million [pounds sterling] deal for the Big Food Group (BFG, a British outfit, and parent of the Iceland chain).
The Baugur consortium's bid vehicle, Giant BidCo, has agreed to pay 95 pence a share for BFG, which will be split into its constituent parts: Iceland, Booker and Woodward if shareholders back the deal. The group's underlying sales decline accelerated to 3.9% over the five weeks to Dec. 10 from 3.1% in the five weeks to Nov. 5. Like-for-like sales at Iceland fell 4.9% and 3.4% during the same ...