Private Equity Suitors Eye Britain’s Beloved Breadmaker: Sky
Private Equity Suitors Eye Up Britain’s Beloved Bread Brand: Sky
(Bloomberg) --
Hovis Holdings Ltd., an iconic U.K. breadmaker, is the subject of a number of bids from private equity and turnaround investors, according to a report from Sky News.
The baker could be sold for over 100 million pounds ($128 million), with suitors including Endless LLP, Epiris LLP and Aurelius Equity Opportunities SE & Co KGaA, Sky said, citing anonymous sources. The firms are among about six parties that have lodged indicative bids for the company, according to the report.
Spokespeople for Hovis and Epiris declined to comment in emailed responses to Bloomberg. Aurelius and Endless declined to comment on the details of the process to Sky.
Founded in Macclesfield in the late 1800s, the baker was put up for sale by its controlling shareholder, The Gores Group, three months ago, Sky said. The brand is also part-owned by Premier Foods Plc.
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