NZ: Pacific Equity Partners “may sell biscuit firm Griffin’s”

The private-equity owner of New Zealand-based biscuit producer Griffin’s Foods is reported to the looking at selling the company.

The Australian newspaper has said that Pacific Equity Partners has asked UBS and Goldman Sachs to conduct a strategic review of Griffin’s, which is New Zealand’s leading biscuit maker.

Griffin’s owns brands that include Chocolate Chippies, Meal Mates, Toffee Pops and Gingernuts. The business is estimated to fetch close to NZ$1.26bn (US$1.09bn).

Danone sold Griffin’s Foods to Pacific Equity Partners for around NZ$385m (US$235.6m) in 2006.

Earlier this year, Pacific Equity Partners sold New Zealand chicken group Tegel Foods to Hong Kong investment firm Affinity Equity Partners. The deal was reported to be worth NZ$605m

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