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Two US private equity groups have UK supermarket operator Sainsbury’s firmly in their sights.
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Kohlberg Kravis Roberts (KKR) and Texas Pacific Group (TPG) have conducted independent investigations into the feasibility of bidding for Sainsbury’s, reports the Sunday Times newspaper.
Sainsbury’s has been having a hard time of late, with the share price down and US-owned Asda having overtaken the company in terms of overall monthly sales. That said, the founding Sainsbury family is unlikely to be keen to sell given the currently sluggish share price.
A source close to one of the two private equity firms is reported to have commented: “It would be difficult to do because of its size – it would take a consortium of private-equity firms.”
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