Suitors eye Woodward

AN auction is developing to buy restaurant and hotel supplier Woodward Foodservice from Icelandic investor Baugur.

Last month, Baugur clinched a £326m deal to buy Big Food Group, which also owns the Iceland chain and Booker cash-andcarry.

As revealed in Financial Mail on November 7, Baugur has held talks with South African-controlled Bidvest, which owns UK catering supplier 3663 and would love to acquire Woodward.

But sources within Baugur say that two further offers have been received from companies wanting to take over Woodward - though Bidvest remains the most likely buyer.

There have been persistent reports that once Baugur has completed its takeover, BFG chief executive Bill Grimsey will be asked to run Booker.

But well-placed sources are sceptical about the idea and believe that Grimsey and his long-standing ally Bill Hoskins, who has been BFG's finance director, will go.