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.
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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.
