Aga focused on securing buyer for Williams Refrigeration
AGA Foodservice Group is talking with several parties about its plans to sell Williams Refrigeration and the rest of its food service division.
Although it will not reveal who it is talking to, Aga bosses, said the group, which sells refrigerators as well as cookers for the domestic and commercial markets, expects to secure a deal by the end of the year.
Today, William McGrath, chief executive of AGA Food service group said 'In 2007 focus is being placed on driving returns from the investments we have made. The consumer brands business emerging from the proposed sale of foodservice will have a strong record and great potential.
'With Aga and Rangemaster manufacturing and sourcing capability, the Group has an outstanding product offering and will look for further growth with confidence and determination.'
His statement was published in the group's interim results released today.
Aga's foodservice division supplies ovens, fryers and refrigerators, to restaurants, bakeries and food stores in the Europe and the US, including McDonald's and Kentucky Fried Chicken.
Well-known contracts include the use of Williams blast chillers at US organic supermarket Whole Foods Market's store unveiled in London last June.
The Aga group expects to generate sales of up to £270 million this year. Aga said it has been aided this year by a surge in catering equipment purchases by UK pub chains ahead of the smoking ban in England.
The group first announced its intentions to sell the division last July.