The private-equity owner of Griffin’s Foods has kicked off the sale of the New Zealand biscuit maker.
just-food understands that private-equity firm Pacific Equity Partners has sent out information memorandums on Griffin’s to potential buyers.
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Reports in New Zealand have suggested that first-round bids could be made later this month. The sale of Griffin’s, which is New Zealand’s largest biscuit maker, could fetch up to NZ$1bn (US$761.6m).
The company, which has production facilities in Papakura and Wiri, sells over NZ$300m of products each year and owns brands including Gingernuts and Mallow Puffs.
Pacific Equity Partners acquired Griffin’s from Danone in 2006 for around NZ$385m.
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