The Caterer

Rank sell-off may lead to bid war

28 December 2005
Rank sell-off may lead to bid war

Rank Group, owner of the Hard Rock brand, is expected to face a bidding frenzy after the long-awaited sale of its Deluxe film processing division.

Rank sold the division late on Friday to McAndrews & Forbes Holdings for $750m (£430m).

The sell-off is expected to lead to a range of venture capital and trade buyers coming forward to bid for what remains of Rank, which includes Mecca bingo, the Hard Rock chain and the Grosvenor casinos.

The company said: "Rank will now concentrate on the growth opportunities in its gaming businesses and in Hard Rock."

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