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{{Short description|Defunct British frozen food
{{Use dmy dates|date=October 2015}}
{{Infobox company
| logo =
| name = Bejam Group plc
| location = [[Stanmore]], [[England]],<br />[[United Kingdom]]
| foundation =
| defunct = 1989
| type = [[Privately held company|Private]]
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}}
'''Bejam''' was a British frozen food supermarket chain founded by [[John Apthorp]] in
==History==
The concept of selling only frozen foods was a novel idea in
The company grew very quickly during the 1970s, and by
By 1982, the company turnover had on food sales alond had grown to £208 million.<ref>{{cite periodical|url=https://books.google.com/books?id=ctIbAQAAMAAJ&q=%22bejam%22|title=Bejam|periodical=Investors Chronicle & Financial World|date=1982|page=255}}</ref> In 1984, the company opened its 200th store in [[Woodley, Berkshire]] with a ceremony with [[Anne, Princess Royal]] and her then husband [[Mark Phillips]].<ref>{{cite web|url=https://m.facebook.com/BejamMemories/photos/a.354617457952002/1902153453198387/?type=3|title=Bejam Memories|date=2018|website=Facebook}}</ref> The firm went head to head with Iceland in 1985, to purchase twelve of the failed freezer food chain Orchard Foods, but lost out to a £910,000 bid by the rival chain which saw Iceland gain its first stores in Bejam's territory.<ref name=walker>{{cite book|url=https://books.google.com/books?id=xU9lAgAAQBAJ&dq=%22bejam%22&pg=PT103|title=Best Served Cold|author=Malcolm Walker|date=2013|isbn=9781848317017|publisher=Icon Books}}</ref> By 1986, this had grown to 226 freezer centres, and this was further enhanced by the purchase of
45 [[Victor Value]] stores from [[Tesco]] in 1986.<ref>{{cite journal|title=Bejam|journal=Management Services|volume=30|date=1986|page=38}}</ref> John Adthorp had contacted [[Malcolm Walker (businessman)|Malcolm Walker]] of Iceland, in 1986 about purchasing the business, which he still held 30% of shares, but nothing further happened after initial conversations.<ref name=walker/> In 1987, the business expanded with the purchases of [[William Low|Lowfreeze]], the freezer shop brand of Scottish supermarket chain, Wm Low, nine of the former Sainsbury's Freezer Centres and retailer ''Wizard Wine''.<ref>{{cite web|url=https://www.majestic.co.uk/about/history |archive-url=https://web.archive.org/web/20170315080933/https://www.majestic.co.uk/about/history |url-status=dead |archive-date=2017-03-15 |title=History - About |publisher=Majestic.co.uk |access-date=2017-03-26}}</ref><ref>{{cite journal|title=Restructuring Scottish grocery retailing: the rise and demise of Shoprite and Wm Low|journal=International Journal of Retail & Distribution Management|author=Sparks. L|date=1 October 1995|volume=23|issue=10 |pages=28–36|doi=10.1108/09590559510102469}}</ref><ref>{{cite web|url=https://www.sainsburyarchive.org.uk/catalogue/search/sapr212214-sale-of-independent-freezer-centres-press-release-18-aug-1987|title=Sale of Independent Freezer Centres" press release, 18 Aug 1987|website=Sainsbury's Archive|access-date=3 April 2024}}</ref> The company's shares rose from 158p to 210p on rumours that both Iceland and Hazelwood Foods were lining up bids, and it was announced that John Adthorp had handed over day-to-day running of the business to Timothy How.<ref>{{cite news|url=https://archive.org/details/NewsUK1987UKEnglish/Jun%2002%201987%2C%20The%20Times%2C%20%2362784%2C%20UK%20%28en%29/page/n21/mode/1up?q=%22bejam%22|title=Indexes soar to records as buyers rush for bargains|newspaper=The Times|date=2 June 1987|page=22}}</ref><ref>{{cite news|url=https://archive.org/details/NewsUK1987UKEnglish/Jun%2006%201987%2C%20The%20Times%2C%20%2362788%2C%20UK%20%28en%29/page/n24/mode/1up?q=%22bejam%22|title=Bejam boardroom reshuffle strengthens takeover talk|newspaper=The Times|date=6 June 1987|page=2}}</ref> The Iceland link was very true, with Adthorp and Walker agreeing a price of 230p per share, however the Bejam board could not agree on the deal and Adthorp would not guarantee to sell his shares to Iceland if he received a higher bid.<ref name=walker/>
In 1988, Iceland made a hostile takeover bid for Bejam, initially in a share offer worth 123p a share at a total of £240 million. Adthorp had stated the offer was ''inadequate and substantially and undervalues Bejam'', with Walker criticising Bejam for not issuing a profit forecast.<ref>{{cite news|url=https://archive.org/details/NewsUK1988UKEnglish/Dec%2012%201988%2C%20The%20Times%2C%20%2363262%2C%20UK%20%28en%29/page/n22/mode/1up?q=%22bejam%22|title=Iceland on new attack on Bejam|newspaper=The Times|date=12 December 1988}}</ref> Iceland then amended their offer to include part cash part share at 187p, but the market were failed to be impressed with Bejam's share price dropping to 170p, and Adthorp said he would not accept the offer.<ref>{{cite news|url=https://archive.org/details/NewsUK1988UKEnglish/Dec%2002%201988%2C%20The%20Times%2C%20%2363254%2C%20UK%20%28en%29/page/n26/mode/1up?q=%22bejam%22|title=Bejam rebuff for Iceland sweetener|newspaper=The Times|date=2 December 1988}}</ref> On the 30 December, [[Lloyd's Bank]], the registrar for the share offer declared that 50.09% of the shareholders in Bejam had accepted the offer.<ref name=walker/>
==See also==
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[[Category:1968 establishments in the United Kingdom]]
[[Category:1989 disestablishments in the United Kingdom]]
[[Category:Companies formerly listed on the London Stock Exchange]]
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