Private equity group Permira looking to sell Europe's largest frozen food group Iglo amid approaches from rival buyout firms that could result in US$4B deal, sources say
March 26, 2012
– According to people familiar with the situation, private equity group Permira is looking to sell Iglo — Europe’s largest frozen food group — following approaches from rival buyout firms that could result in a US$4 billion deal, Reuters reported March 26.
Sources say that Iglo has attracted interest from Blackstone, BC Partners and Cinven. The sale could also attract interest from Asia.
Food groups in Europe are not expected to actively pursue Iglo, because companies such as Nestle and Unilever are looking to exit the frozen foods market by selling out to private equity firms.
The primary source of this article is Reuters, London, England, on March 26, 2012.