NFF raises pounds 1m with sell-off

NFF, until recently Northumbria Fine Foods, the biscuit and cake manufacturer and wholesale distributor, has raised pounds 1m in cash by selling its remaining 19 per cent stake in Lees of Scotland - which has been sold to Burness (Trustees) for pounds 430,000 - and the Coatbridge factory until recently occupied by Lees, which has been sold to a third party for pounds 575,000.

The proceeds of the two disposals will be used to finance the acquisition of Lovells Confectionery, the Newport-based chocolate manufacturer, which was bought from the receiver last week.