Sold for £10mln over book value, the disposal slashed the group’s debt and means it can look to future small acquisitions, he tells Proactive Investors.
“We are now entering a period of investing into our existing businesses and we are looking to take an awful lot of costs out,” says Totté.
He says the group is not particularly concerned with certain challenges facing the industry, namely Brexit, as the group is a net exporter.
“What we import is very limited,” explains Totté. He says the US is an upside thanks to the strength of the dollar.
“We had a very good month following the referendum which surprised us, but people still eat,” he says.
The group is now investing heavily into its Renshaw business, which Totté says has grown “tremendously” and says there are lots of opportunities to invest, with a number of small acquisitions a possibility.