Bakkavor, one of East Mid’s leading providers of fresh prepared food, has announced that it will no longer proceed with its plans for an initial public offering.
Whilst the company received sufficient institutional demand to cover the offering, the Board has taken the decision that proceeding with the transaction would not be in the best interests of the company, or its shareholders, given the current volatility in the IPO market.
Bakkavor will continue to pursue its proven strategy within the fast-growing fresh prepared food sector, where the Group’s expertise and focus on innovation have made it a clear market leader. The Group’s ability to deliver long-term sustainable growth is underpinned by its strong financial position. The business continues to trade well and against this backdrop, the Board remains confident in the outlook for the Group.