Bakkavor, one of the biggest suppliers of ready meals to Marks & Spencer and Waitrose, has confirmed plans for a stock market floatation that could value it at between £1 billion and £1.5 billion. Agust Gudmundsson, the chief executive and co-founder, said the London stock market listing would help the business to invest and strengthen its position in the UK and speed up plans for international growth. It would also mean that the group could reduce debt. Mr Gudmundsson and his brother Lydur will sell part of their 59 per cent stake in the float, as will Baupost, the US hedge fund which holds the remaining 41 per cent, but they will remain significant shareholders. The company, which employs 16,500 people in the UK, intends…

Source: The Times October 10, 2017 07:52 UTC