close
MENU
Hot Topic NBR Focus: GMO
Hot Topic NBR Focus: GMO
1 mins to read

PEP puts Griffin's up for sale - report


The Kiwi snack food business is up for sale, according to sources. 

Duncan Bridgeman
Thu, 08 Sep 2011

Pacific Equity Partners has hired investment banks to advise on the potential sale of New Zealand snack food business Griffin's Foods, sources have told Reuters.

One of the sources said that the deal could value the company at up to $750 million including debt.

PEP had appointed UBS AG and Goldman Sachs to conduct a strategic review of the business earlier this year but it was not clear whether those firms had been retained.

PEP acquired Griffin's, which makes biscuits and crackers, from Danone for a reported $385 million in 2006.

Last month, PEP and Unitas sold Independent Liquor for $1.3 billion to Japanese brewer, Asahi.

In May PEP was part of a consortium of investors that sold poultry producer Tegel Foods to Affinity Equity Partners for a reported $600 million.
 

Duncan Bridgeman
Thu, 08 Sep 2011
© All content copyright NBR. Do not reproduce in any form without permission, even if you have a paid subscription.
PEP puts Griffin's up for sale - report
16793
false