Private equity groups have reportedly withdrawn from the race to acquire Belgium soy milk and yoghurt maker Alpro Soya from Vandemoortele Group.
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Citing unnamed banking sources, Reuters today (22 April) reported that a number of interested trade buyers have outbid private equity groups, who have failed to raise sufficient funds due to the credit crunch.
Vandemoortele told just-food that it hopes to complete the sale in the next few months. However, the Belgian-based food group remained tight-lipped on the sale process, declining to name interested parties.
Dutch food group Wessanen is viewed as one a possible suitor. The company today said that it was mulling pulling out of the US in order to focus on expanding its European business organically and through acquisitions.
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