The company could be sold whole or as its individual business units.
Aquaculture biotechnology company Benchmark Holdings has been put up for sale.
In a stock exchange notification issued on Monday, the board of the company said the current share price “materially undervalues” the value of Benchmark’s businesses and the long-term prospects of the company.
The company, specializing in genetics, nutrition, and health solutions for aquaculture, has seen substantial growth in recent years. Despite increasing its revenue from £105.4 million in FY20 to £169.5 million in FY23 and its Adjusted EBITDA from £15.5 million to £35.5 million, the board believes the market has not fully recognized Benchmark’s value.
The UK Takeover Panel has granted permission for a formal sale process, allowing confidential discussions with interested parties.
The company has appointed Evercore and Rabobank as financial advisers to assist in the sale process.