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 ÂŁ105.4 million in FY20 to ÂŁ169.5 million in FY23 and its Adjusted EBITDA from ÂŁ15.5 million to ÂŁ35.5 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.