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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.