Findus sale linked to top UK seafood company
Bluecrest, is looking to take over frozen foods giant Findus.
Capvest is in detailed talks with fellow private equity firm, EQT Scandinavia, over the possible acquisition of the frozen food company after a seven-month auction.
According to a recent report in The Times the deal, which would value Findus at around €560million, is expected to be complete by the end of the month.
The report claims Capvest is confident that a merger of the companies' activities will lead to cost savings, allowing for a potential future sale or flotation of what would be an enlarged group.
Capvest took over Young's, which has a £500million turnover, in March 2002.
The company supplies chilled and frozen food products throughout the UK to the retail and catering industry, its customers include Asda, Marks & Spencer and Sainsbury's.
Findus is a leading international frozen food producer, with operations in all Nordic markets along with those in France, eastern Europe and Thailand.
Such a deal would unite the traditional UK family favourites: Young's Fisherman's Pie and Findus Frozen Vegetables.
Findus owner EQT is one of Europe's leading private equity firms, managing around €6billion invested in 39 companies.
