Possible Sale Rumors Surround Continental Foods
20 Jun 2017 --- Speculation is mounting about the fate of Continental Foods following reports that private equity fund CVC Capital Partners has selected advisers to sell the food firm in a deal that could be worth around €1 billion.
The company - which was created in 2013 when the investment company CVC Capital Partners took over the European business of Campbell's - has operations in Belgium, Finland, France, Germany and Sweden. It is active in five European markets including Finland and Sweden with revenues of about 400 million euros.
It produces soups, sauces, and bouillons unders brands including Liebig in France and Erasco in Germany.
This comes at a time of when there is a flurry of potential deals in the packaged food sector with some of the key players investigating ways to boosts profits in a weak market.
As reported in FoodIngredientsFirst, Unilever is trying to sells its spreads and margarine business following the attempted takeover bid by Kraft Heinz earlier this year.
And just last week confectionery giant Nestlé announced it is considering a possible sale of its US confectionery business as it explores “strategic options” as part of an on-going review examining future growth of the company.
Only focusing on the US market, Nestlé’s review should be finished by the end of the year.
According to reports in Reuters, London-based CVC, is working with Swiss Bank UBS and a French investment boutique on the possible sale.
