Aga adds £250m sale to its menu

Possible candidates include Enodis, the catering equipment group which last year spurned a £1.3billion planned merger with the upmarket kitchen appliance maker. Aga’s chief executive,

William McGrath, said: “We believe a single focus on our consumer range will appeal to investors and help to unlock value. “The list of prospective buyers is certainly not short and includes

several kitchen suppliers.” A sale of the business, which supplies chip-fryers and bakery ovens, could result in a further payout for shareholders. Aga dis­tri­buted £56mil­lion recently.

The company wants to retain a link with the food-service business. “We would be keen to co-operate with the new owner if the opportunity arose,” McGrath said. Aga’s iconic ovens have

recently enjoyed a renaissance — one reason the firm prefers to focus on this part of the business. The group also offers upmarket refrigerators and is in the process of launching a range of

green products. This includes a programmable electric Aga which reverts to a low-energy “sleep” mode when not in use. McGrath said: “The new programmable Aga will be available at the end of

the month and we have already had considerable interest from ­consumers.” Aga shares rose 27p to 412dp, valuing the com­pany at £475million, as it left its full-year profits forecast

unchanged at £22million. But analysts believe there is more to come. Merrill Lynch rated the stock a buy and set a ­target price of 455p.