UK investment fund Intermediate Capital Group has declined to comment on reports it is in talks to buy a “significant minority stake” in UK food manufacturer Symington’s.
The deal, which according to Dow Jones Newswires could come within the next week, would, the report said, enable Leeds-based Symington’s to buy other food brands including Bird’s Custard and Angel Delight, which are being sold by rival Premier Foods plc.
Last month, reports suggested competing private-equity investors are vying to acquire the non-core brands of both Symington’s and Premier, with an eye to merging the groups into one entity.
Symington’s owner, private-equity group Bridgepoint, hired Rothschild to advise on refinancing options for the company, owner of brands including Crosse & Blackwell and Ragu, some months ago, the publication noted.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below formBy GlobalData