By Mark Kleinman, City Editor
A family which fled Uganda after being expelled by the dictator Idi Amin is eyeing a £250m jackpot from the potential sale of Tilda Rice, one of the UK's most prominent food brands.
Sky News understands that members of the Thakrar family which controls Tilda are considering a sale of part of all of the company more than four decades after they arrived in Britain.
Tilda, which is stocked by all of the major supermarket chains and has a huge share of the retail trade in packaged rice, has appointed investment bankers at Rothschild to oversee a review of options for the family's shareholding, sources close to the situation said.
An outright sale is thought to be on the agenda, with analysts estimating that the company could be worth in the region of £250m.
A sale at that price would cap a remarkable success story for the Thakrars, who arrived in north London in the early 1970s cleaning and packing rice and pulses after their expulsion from Uganda by Idi Amin's regime.
They focused the company initially on targeting sales within the UK's fast-growing community of immigrants from India and Bangladesh but quickly realised the much broader potential demand.
Now employing 200 people in the UK, Tilda has grown so ambitiously that six years ago it began exporting its rice products to India, one of the world's most voracious consumers of the food.
The Thakrars identified an opportunity to build their business in India amid changing consumption and buying habits in the world's second most populous nation.
Tilda is expected to make earnings before interest, tax, depreciation and amortisation of roughly £25m this year, with food companies often trading at multiples of about ten times their annual profits.
"The group's main objective is for growth in sales and profitability," the company's parent, Braunstone Properties, said in its most recent accounts filed at Companies House.
It added: "This will be achieved by building on the success of the existing brands in the EU and overseas markets, and by continuous improvements in operational efficiency."
A Tilda spokesman declined to comment on the appointment of Rothschild or on the shareholders' plans.
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