Cadbury confirmed today (1 June) that its offer to acquire Chewits manufacturer Leaf International was rejected by the group’s private equity owners.
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Private equity companies CVC Capital Partners and Nordic Capital put Leaf up for sale earlier this year.
However, according to a report in Sunday Telegraph, the sale has been suspended after failing to attract adequate interest.
A spokesperson for Cadbury confirmed that the UK confectionery giant had made a move for the smaller confectioner.
“We had put in an offer, which was rejected,” the spokesperson told just-food.
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By GlobalDataThe company declined to comment on details of the offer, which, according to reports, failed to meet value expectations.
CVC declined to comment while Nordic Capital was not immediately available for comment.
