European food distributor Brakes has confirmed it has "initiated a review of strategic options" following national press reports that it is being put up for sale.
CEO Frank McKay declined to comment further on speculation that New York-based investment company Clayton, Dubilier & Rice (CDR) is looking for buyers of the £1.6bn company until its review is complete. He says: "Brakes is in excellent health. The business has made significant progress in achieving continued growth, market leadership
and outstanding customer service.
"We are fully committed to the execution of our growth strategy and to developing our strong relationships with our customers and suppliers."
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