UK: Private equity firms submit "second bids" for R&R Ice Cream
Three private equity firms linked to the purchase of UK firm R&R Ice Cream are understood to have gone through to a second round of bidding.
R&R Ice Cream, which has operations across Europe and supplies branded ice cream under licence as well as own-label lines, is reported to have received first-round bids before Christmas.
US investment fund Oaktree Capital owns 82% of R&R. Management including chief executive James Lambert owns the remainder of the business.
According to Reuters this week, three private equity firms, Clayton, Dubilier & Rice (CD&R), Ontario Teachers Pension Plan and PAI Partners, have all submitted second-round bids for the firm. It is understood the business could fetch around EUR900m (US$1.2bn).
R&R had said in October it was exploring strategic options that could include a sale.
Ontario Teachers Pension Plan declined to comment on the reports, while CD&R and PAI Partners did not return a request for comment.
Despite the sale reports, R&R Ice Cream this month acquired the Yoomoo frozen yoghurt brand for an undisclosed sum.
This report provides a concise overview of the Ice Cream market in Japan. After reading this report, you will understand the size of the market, the economic, demographic and behavioral trends which w...
This report provides a concise overview of the Ice Cream market in Mexico. After reading this report, you will understand the size of the market, the economic, demographic, and behavioral trends that ...
This report provides a concise overview of the Ice Cream market in Australia. After reading this report, you will understand the size of the market, the economic, demographic, and behavioral trends th...
"Take-Home Ice Cream Market in Western Europe: Market Guide to 2017", provides detailed, analytical and well-presented information on Take-Home Ice Cream consumption trends in Western Europe. This inc...
- Focus: Danone CEO Faber puts stamp on business
- Cleaning up Tesco will have mixed supplier impact
- The just-food interview: Doux CEO Arnaud Marion
- Interview part 2: BRF CFO Augusto Ribeiro
- General Mills US "priority" categories gain share
- General Mills outlines "aggressive" NPD drive
- Coles supplier payments broke competition law
- Lay's heads "billionaire food brands" list
- General Mills earnings drop one-third
- PepsiCo opens snacks plant in Saudi Arabia