US: Kettle Foods receives "second round of bids"
By: just-food.com | 15 February 2010
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United Biscuits has been linked to a GBP200m bid |
Potential bidders for crisp maker Kettle Foods have reportedly tabled second bids for the US-based business.
Reports in the UK this weekend have linked McVitie's owner United Biscuits with Kettle, which is said to have also attracted interest from the likes of Diamond Foods, PepsiCo and Snyder’s of Hanover.
Private-equity firm Lion Capital is said to be preparing to sell the snack maker for around US$700m.
Last month, Kettle told just-food that a number of interested parties had approached Lion, although the company declined to reveal the identity of the mystery suitors.
United Biscuits, the owner of the Phileas Fogg snacks brand, is thought to have offered up to GBP200m (US$313.8m) for Kettle's UK asset.
US potato chips maker Lance, pretzel makers Snyder's of Hanover and Intersnack, and organic food group Hain Celestial, are all understood to have made bids for either the whole company or just the US asset, according to the Sunday Telegraph.
Kettle employs around 730 people across production sites in the US and the UK and in 2008 generated sales of $235m.
Companies: United Biscuits, Diamond Foods, PepsiCo, Lance, Hain Celestial
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