Banknote printer De La Rue is in talks with suitors interested in buying each of its core divisions following a strategic review.
The Basingstoke-based group, which prints banknotes for the Bank of England and other central banks across the world, said it has spoken with “a number of parties who have made proposals” related to either its currency or authentication operations.
Nevertheless, it stressed that there is no certainty that interest will result in any deal.
Clive Whiley, chairman at De La Rue, said: “Since my appointment a year ago, the board has considered a broad range of possible strategic alternatives including transactions with multiple parties which may involve a combination with, or the sale of, the group’s divisions.
“The board confirms that the discussions with the relevant parties are advancing, and we expect to update further at the time of the full year results in July.”
It came as the company held firm with its previous financial guidance for the year to March.
De La Rue added that it has seen “positive momentum” in both its authentication and currency divisions, with a number of “significant recent contract wins and renewals”.
Its authentication operation has reached an agreement with two existing Government customers for multi-year extensions to contracts for it to supply a digital tax stamp product.
The firm also said its currency division has continued to progress in more recent months, amid “recovering market” for banknotes and physical currency following the pandemic.
Clive Vacher, chief executive officer, said: “We are delighted to extend our relationship with these high-profile customers within our authentication division.
“This, alongside other recent renewals and the expanding currency order book, demonstrates further progress in the development of De La Rue which will help to underpin our performance in full-year 2025.”
