Aga Rangemaster, the cookers that have been manufactured in Britain since 1930, has announced that it is in talks with US kitchen equipment firm Middleby Corporation about a possible takeover.
The US company commented saying talks were at a “very early stage”, and shares in the company increased by 35%.
The Shropshire company said that in 2014 its profits dropped due to shop closures, site rationalisation and pension costs, however at the beginning of 2015 demand for its products got stronger.
Professor of industry at Aston University in Birmingham, David Bailey, said Aga Rangemaster was a "really iconic British brand".
"However, it does have an increasing market share in the US," he said. "As with every foreign investment, it could bring benefits to the company. The flip side is that, if this goes ahead, will decisions be made in the US? Will they keep manufacturing in Britain?"
