Thai food manufacturer interested in Birds Eye
Sunday 13 May 2012
The maker of Birds Eye fish fingers has followed Weetabix as the latest household British brand to attract takeover interest from Asia.
Thai food manufacturer Charoen Pokphand Foods (CP Foods) is reportedly preparing a £2.5 billion bid for the Birds Eye business, which has been put up for sale by the private equity firm Permira.
Earlier this month, British cereal favourite Weetabix fell into the hands of China's Bright Food in a deal valuing the firm at £1.2 billion.
According to the Sunday Times, the Thai firm is up against private equity investors including Blackstone and BC Partners after first-round bids in the sale process were lodged on Friday.
CP Foods, which is Thailand's biggest food producer with annual sales of about £6 billion, already has sizeable operations in Britain. Its main office is near Kidderminster and it has a factory at Newmarket, where it makes own-label food for supermarkets including Tesco.
It is thought that CP is keen to expand Birds Eye in Asia and eastern Europe, where the frozen food market is smaller.
Feltham-based Iglo Group, which owns the Birds Eye brand, sold 2.2 billion fish fingers and generated £1.25 billion in sales last year, including from other ranges such as frozen vegetables and chicken and rice dishes.
Today's report said CP may team up with another private equity firm in order to make an offer for all of Birds Eye.
- 2 Harry Potter fans can apply to the Hogwarts-inspired College of Wizardry
- 3 Jessica Chambers: 19-year-old woman 'doused with lighter fluid and burned alive' in the US
- 4 Russell Brand calls Nigel Farage 'poundshop Enoch Powell' in BBC Question Time debate
- 5 Orange Wednesdays are no more
Weather bomb in pictures: Storms cuts power for tens of thousands – and snow is on the way
Jessica Chambers: 19-year-old woman 'doused with lighter fluid and burned alive' in the US
Russell Brand calls Nigel Farage 'poundshop Enoch Powell' in BBC Question Time debate
Russell Brand was rendered speechless on Question Time by this man
Fury at Airbus after it hints the super-jumbo may be mothballed
Disgruntled RBS worker writes hilarious open letter to Russell Brand after anti-capitalist publicity stunt leaves him hungry
Nigel Farage defends Kerry Smith 'ch***y' comment: 'If you are going for a Chinese, what do you say you’re going for?'
Nigel Farage's approval rating hits 'record low' as popularity suffers in wake of Ukip sex scandal
Pakistan school attack live: Taliban kill at least 132 children in 'horrifying' massacre
Sony hack: Angelina Jolie branded 'seriously out of her mind' in further embarrassing leaked email saga
Rozanne Duncan: Ukip expels councillor for 'jaw-dropping' comments made in BBC TV interview
iJobs Money & Business
£20000 - £25000 per annum + OTE £40,000 + Car + Pension: SThree: SThree are a ...
£20000 - £25000 per annum + OTE £35K: SThree: We consistently strive to be the...
£20000 - £25000 per annum + OTE £35000: SThree: SThree are a global FTSE 250 b...
£20000 - £25000 per annum + OTE £35K - £45K: SThree: SThree Group have been we...