The firm, responsible for printing currency for the Bank of England as well as other global central banks, has revealed it’s been in discussions with ‘a number of parties’
Banknote manufacturer De La Rue is currently in negotiations with potential buyers for its main divisions, following a comprehensive strategic review.
The firm, headquartered in Basingstoke and responsible for printing currency for the Bank of England as well as other global central banks, has revealed it’s been in discussions with “a number of parties who have made proposals” concerning either its currency or authentication businesses. However, the company has emphasised that there’s no guarantee these expressions of interest will lead to any transaction.
Clive Whiley, De La Rue’s chairman, 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.” This announcement comes as the company maintains its financial forecast for the fiscal year ending in March.
De La Rue also reported “positive momentum” within its authentication and currency branches, highlighting several “significant recent contract wins and renewals”. Moreover, the company’s authentication segment has secured multi-year extensions with two current government clients to continue providing a digital tax stamp solution.
The company also shared that its currency division has stayed on an upward trajectory over recent months, amid a “recovering market” for banknotes and physical currency post the pandemic. Chief executive Clive Vacher 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.”
