Aga Foodservice to Sell Commercial Foodservice, Bakery Equipment Units

U.K.-based Aga Foodservice Group Plc announced a conditional agreement to sell its commercial foodservice and bakery equipment business, Aga Foodservice Equipment, to Italian private company Ali SpA for GBP 260 million in cash, including the assumption or repayment of net debt. Aga expects to complete the sale at the end of 2007.

By Staff -- Foodservice Equipment & Supplies, 10/23/2007 12:00:00 AM

U.K.-based Aga Foodservice Group Plc announced a conditional agreement to sell its commercial foodservice and bakery equipment business, Aga Foodservice Equipment, to Italian private company Ali SpA for GBP 260 million in cash, including the assumption or repayment of net debt. Aga expects to complete the sale at the end of 2007.

Aga Foodservice Equipment has three segments: European Foodservice, European Bakery, and North American Foodservice and Bakery. According to Aga, since the sale of its Pipe Systems businesses in 2001, AFE has grown organically and by acquisition.

The Milan, Italy-based Ali SpA, designs, manufactures and markets commercial foodservice equipment. The group consists of 32 manufacturing sites located in 12 countries.

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