Curry King Patak’s sold to ABF
The Pathak family agree a deal with Associated British Foods
One of the UK’s most popular Indian food businesses has been sold by the family which founded it.
Patak’s has been sold by the company’s chairman Kirit Pathak to the grocery business Associated British Foods (ABF) for an undisclosed figure in a deal which includes all of its assets except for those in India.
Patak’s, founded in 1957 by LG Pathak an immigrant from Kenya, has evolved into a £66m turnover business which sells its products in over 40 countries.
The Lancashire-based business specialises in the manufacture of Indian-style foods such as sauces, pastes, pickles and chutneys.
In this country, it provides both service outlets as well as retail and claims to supply its pastes to 75% of Indian restaurants in the UK.
Pathak said: “With its experience in the world foods sector and international scale of operations, ABF is the ideal strategic partner for the Patak’s brand.
“Moreover, this partnership will reinforce the leadership position of the Patak’s brand in Indian food worldwide and significantly enhance the capacity of Patak’s to realise its full global potential as the reference Indian food brand.”
Its buyer ABF already has a strong foothold in the ethnic food business with brands such as Lucky Boat noodles, Rajah spices, and Pride Oil.
Kirit Pathak and his wife Meena Pathak will both join the new company’s board.
The deal is expected to be completed in August this year, subject to regulatory clearances.
© Crimson Business Ltd. 2007