Graham Poulter set to sell as directors finalise buyout bid

Graham Poulter, the millionaire chairman of the Poulter agency in

Leeds, is set to sell the shop he founded 28 years ago to its

directors.

Financial advisors and lawyers representing Poulter, the agency’s

majority shareholder, and its ten-strong board of directors are

understood to have opened negotiations to agree a price.

Speculation was rife earlier this year that Poulter would return to an

active agency role, which he had relinquished to take on the

chairmanship of the troubled electronic publishing company, On Demand

Information - a job he recently quit.

Richard Lewis, the managing director of the agency, declined to

comment.

But an associate said: ’Graham is thinking about retirement and has let

it be known he will sell the agency to its management, subject to a

price being agreed.’

Poulter owns just over 50 per cent of the agency, the remaining shares

being divided between outside directors and the management team.

The pounds 38 million-billing shop has a client list that includes

McCain Foods, Sharp Electronics, Redrow Homes and Morrisons

supermarkets.