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Chips are down in bid for Jersey Royal potato

The Jersey Royal Company, which produces 25,000 tonnes annually and is 50 per cent owned by Scottish-based and family owned Albert Bartlett, one of the biggest potato suppliers in the UK, has apparently had a £12million bid approach from AIM-listed potato grower and distributor Produce Investments, which closed 5p better at 215p, valuing the business at around £42million. Dealers heard that terms were agreed weeks ago and the deal is now waiting to be signed off. Confirmation of PI swallowing Jersey Royals should please its shareholders as it will not only add a famous brand to its portfolio but the deal will be earnings enhancing from the start. More

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