Private-equity groups PAI Partners and Pamplona Capital are reportedly eyeing a stake in ready meals maker Bakkavor.

According to a report in The Sunday Herald, the private equity investors are circling the group.

Bakkavor did not immediately respond to requests for comment when contacted by just-food, while representatives from PAI and Pamplona were unavailable for comment.

Last summer, sources confirmed that Bakkavor has contacted banking advisors to sell stakes in the business held by a number of investors.

While just-food understands that CEO Agust Gudmundsson and his brother Lydur had no plans to sell the 39% of Bakkavor that they own, other investors are believed to be looking to offload their investments. These include Arion Banki, the Pension Fund of Commerce and the Gildi Pension Fund, who may be looking to sell their shares in the group, which total 37% of outstanding stock.

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By GlobalData