View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. News
April 25, 2005

SWEDEN: Findus to be put up for sale says paper

Frozen food company Findus is to be sold, two years after a previous attempt to sell the business was abandoned, according to the Sunday Times newspaper.

Frozen food company Findus is to be sold, two years after a previous attempt to sell the business was abandoned, according to the Sunday Times newspaper.

EQT, the Stockholm-based private-equity firm that bought Findus in 2000, is interviewing investment banks with the intention of selling its holding in the company later this year. Sources believe Findus will raise up to €750m (US£973m) in an auction, the paper said.

EQT, which is controlled by Sweden’s powerful Wallenberg family, recently sold the loss-making British arm of Findus to its management for an undisclosed amount, and has now decided to dispose of the rest of the business, it said.

Findus, which makes frozen pizzas, pasta dishes, pancakes and vegetables, has manufacturing operations in markets including Germany, France, Spain, Thailand, Australia and eastern Europe. In 2004, the company recorded sales of €559m, according to EQT.

EQT declined to comment on its plans for Findus.

Related Companies

Topics in this article:
NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. A weekly roundup of the latest news and analysis, sent every Friday. The industry's most comprehensive news and information delivered every other month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Just Food