Owner of Norwich's Kettle Foods refuses to comment on 'rumours' that it is looking to sell
PUBLISHED: 15:41 07 May 2019 | UPDATED: 10:59 03 June 2019
The owner of Norfolk crisp manufacturer Kettle Foods has refused to comment on "rumours or speculation" that the brand will be sold.
It was reported over the bank holiday by the Press Association that Kettle Food's owner Campbell's Soup Company had brought in Barclays to value the company.
But today Campbell's said: "We cannot comment on rumours or speculation."
You may also want to watch:
MORE: Norwich-based Kettle crisps' owner reportedly considering selling brand
Kettle, which has two Norfolk sites - its main factory in Bowthorpe, Norwich, and a storage facility in Snetterton - was bought by soup-maker Campbell as part of its 2017 acquisition of American food group Snyder's-Lance.
The apparent sale plans come after the UK arm dived into the red following "very intense" competition in the UK market and increased brand investment, it said in companies house accounts posted this week.
It fell to a £4.3m operating loss in the seven-month period to July 31 2018, slumping from a £51,000 profit for the 2017 full-year.
It reported revenues of £51.1 million for the seven-month period as its market share declined against the previous year.