Several buyout houses including European private equity firms Permira and PAI Partners are looking to buy two sets of brands being sold by Premier Foods and Symington’s with the aim of merging the businesses to create one food company.
The firms are looking to buy a basket of brands put up for sale by Premier, including Angel Delight and Sarson’s Vinegar, and from Leeds-based Symington’s, including Ragu and the rights to Campbell’s soups in the UK and Ireland, the Sunday Times reported yesterday.
Paris-based PAI Partners is currently planning to raise a new €3bn fund. Meetings with potential LPs are likely to begin in March. The news signals a potential comeback for the French firm after it ousted its management and cutting its fifth investment vehicle in half.
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