Sir Jim Ratcliffe has put Ineos Hygienics up for sale, the business he launched during COVID-19 to supply hand sanitisers to medical professionals and consumers.
Mark Kleinman for Sky News reports that Ineos has instructed advisory firm Interpath to manage the sale.
The company was created in March 2020, with Ineos rapidly establishing six factories in just ten days.
Sir Jim Ratcliffe has come under scrutiny by Manchester United fans, most notably for his cost-cutting measures.
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“As Europe’s largest producer of high-purity synthetic ethanol, INEOS was in a unique position to respond to the global shortage of hand sanitiser,” the company states.
Millions of bottles were distributed for free to NHS staff, medical institutions, and frontline workers.
Ineos Hygienics has since expanded into retail, securing deals with Sainsbury’s and Ocado in 2021.
It also became the official supplier of hand sanitisation products to major sporting teams, including Mercedes-AMG Petronas F1 and Tottenham Hotspur.
The financial performance of Ineos Hygienics remains unclear, but sources suggest this is a conventional sale rather than a distressed one.
The sale marks a rare disposal for Ratcliffe, who is better known for acquiring assets across various industries.
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Interpath’s involvement comes after working with Ratcliffe on cost-cutting at Manchester United following his minority stake purchase.
That process led to hundreds of job losses, with more expected as the club aims to reduce expenses.
Cuts have extended to previously untouchable areas, including the funding of an association for former players and Manchester United’s charitable foundation.
Outside of football, Ratcliffe’s Ineos empire spans petrochemicals, energy, shipping, and even the automotive industry, with the Ineos Grenadier 4×4.
In sport, he has invested heavily in cycling and previously funded Britain’s America’s Cup challenges, though his partnership with Sir Ben Ainslie is reportedly facing legal disputes.
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