R&R Ice Cream to be put up for auction, could generate up to US$1B, say people with knowledge of the matter
March 12, 2012
– According to unidentified sources with knowledge of the matter, private-label ice cream maker R&R Ice Cream will be put up for auction in a move that could generate up to US$1 billion, The Wall Street Journal reported March 12.
The company is currently owned by Oaktree Capital Management LP, a U.S. private-equity firm.
The auction is expected to generate interest primarily from other private-equity firms, the unidentified sources said.
Spokespeople for both Barclays Capital Services LLC and Oaktree declined to comment on the matter.
R&R Ice Cream has annual sales of more than 500 million liters of ice cream. For the nine-month period through September, the company’s sales totaled €406.6 million (US$534.6 million). R&R Ice Cream’s earnings before interest, tax, depreciation and amortization for this same period were €59.8 million.
R&R Ice Cream is the largest private-label ice cream maker in Europe.
The primary source of this article is The Wall Street Journal, New York, New York, on March 12, 2012.