U.S. buyout house Clayton Dubilier & Rice (CD&R) has bought German sausage casings maker Kalle from Silverfleet Capital, the companies said on Friday.
Terms of the deal were not disclosed, but two sources familiar with the process said the price was towards the upper end of 450-500 million euros ($512-569 million).
Kalle was purchased by Silverfleet in 2009, and had turnover of more than 281 million euros last year.
In March 2010, Silverfleet syndicated part of its investment, with British private equity firm Electra investing 9 million pounds ($13 million) in the business. Electra has also sold its stake.
Reuters reported in September that Rothschild was advising on a possible sale or IPO.
“Because of the turbulent stock markets we decided against a listing that we had worked on for long, and concentrated on the sales process,” Guido May, a partner at Silverfleet, told Reuters.
“A new owner with deeper pockets than we had can develop Kalle further. For example, the U.S. market would deliver great opportunities for growth.”
($1 = 0.8783 euros)
($1 = 0.6859 pounds)
By Freya Berry and Alexander Huebner
Source: Reuters
The facility is designed to foster innovation and deepen collaboration with customers, by offering a range of new services and solidifying its role as a central hub for customer support. Tereos’ team, supported by a network of 50 scientists, will ensure customers can innovate and meet the rising consumer demand for healthier and more sustainable products.
Glanbia has agreed to acquire Flavor Producers from Aroma Holding for an initial consideration of $300 million. Flavor Producers is a US-based flavour platform, providing flavours and extracts to the F&B industries, with a focus on organic and natural ingredients.
Lesnard, who previously worked at Nike, The North Face and Sephora, has a mission to “grow and sustain GODIVA’s position and expertise in the premium chocolate category, leveraging ongoing support from pladis to take GODIVA and its legendary chocolate to new heights.”