PEP puts Griffin's up for sale - report
The Kiwi snack food business is up for sale, according to sources.
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Hawke’s Bay
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
Thu, 08 Sep 2011
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PEP puts Griffin's up for sale - report
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