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May 29, 2019

Pastas Gallo mum on talk of five possible suitors

Pastas Gallo silent on report five parties tentatively interested in buying the Spain-based food manufacturer have been invited to decide whether to make binding offers.

By Dean Best

Pastas Gallo has refused to be drawn on a report five parties tentatively interested in buying the Spain-based food manufacturer have been invited to decide whether to make binding offers.

Spanish newspaper La Vanguardia has said local manufacturer Idilia Foods, three private-equity firms and an investment group led by a former executive at PAI Partners have been given access to information on the business with a view to possibly making binding offers next month.

The family behind Pastas Gallo are said to want to sell the Barcelona-based business. La Vanguardia said the five brothers that equally own Pastas Gallo are looking for a buyer.

Pastas Gallo declined to comment when approached by just-food as did two of the private-equity firms said to be interested, TowerBrook Capital Partners and Ventura Equity Partners.

Neither Idilia Foods and the third private-equity firm reported to be in the running, ProA Capital, had not returned a request for comment at the time of writing.

Pastas Gallo generates annual sales of around EUR200m, according to La Vanguardia.

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