On 30 September 2021, Roebuck Food Group plc (then named Norish plc) announced the conditional agreement for the sale of its cold storage division to Nichirei Holding Holland B.V. (“the Purchaser”), a wholly-owned subsidiary of Nichirei Logistics Group Inc. for a consideration of £65.706 million (“the Disposal”).
Following the settlement of indebtedness and the operation of a completion accounts mechanism in the Sale and Purchase Agreement, it was then anticipated that it would result in a consideration receivable by the Company of approximately £57.3 million.
The completion of the Disposal was announced on 29 October 2021.