UK - MFI auction reaches second round

It is thought that MFI will favour a buyer which promises to work at improving the performance of the retail division rather than one that looks to break it up, due to the links that exist between the retail arm and the manufacturing and wholesale operations. The vendor is to keep hold of Howden Joinery which has remained profitable and is expected to absorb MFI Retail's pension commitment costs. Merchant Equity Partners, which is being backed by NM Rothschild looks favourably positioned comapred to its bidding rivals, Apax and Argyll Partners, thanks to its interest in distressed businesses.

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• Topics
• Buyouts
• UK / Ireland
• Consumer