Midlands tycoon in £342m offer for food firm

Goodfella's pizza and Fox's biscuits are set to become part of a £2 billion Black Country-based food empire following a £342 million takeover offer for Northern Foods.

Wolverhampton-born tycoon Ranjit Boparan has gatecrashed a merger deal between Northern and Irish group Greencore, offering shareholders 50 per cent more cash.

Northern Foods' directors last night switched their backing to Mr Boparan, who would take the company private and merge it into his £1bn-a-year 2 Sisters frozen chicken business based in West Bromwich. It also has sites in Smethwick and Wolverhampton.

The combined business would employ more than 16,000 people and have total sales in excess of £2bn a year.

The offer came within minutes of an extended 7pm deadline last night, under which Mr Boparan, who has also bought the famous Harry Ramsden fish and chip shop chain, had to either make a bid or walk away from the deal.

Making his 73p-a-share offer last night, Mr Boparan said: "The combined group will be one of Britain's major food suppliers with a turnover of more than £2bn."