Fri, 01 Mar 2013 | BUSINESS SALE
French company PAI Partners is set to buy R&R Ice Cream if all goes according to plan.
The former owner of the Yoplait dairy brand looks set to take control of R&R in a deal worth around £700 million.
However, PAI, a private equity firm, is not yet in exclusive talks to acquire R&R although everything is set to move very quickly and other forerunners for the acquisition – including the Ontario Teachers' Pension Plan – are thought likely to be dropped.
R&R is based in Yorkshire and manufactures ice cream for big supermarkets, such as Carrefour and Tesco, but also for brand names, including Fab, Aero and KitKat. Oaktree Capital, which owns an 82 per cent share of R&R at the moment, put the group up for sale around a year ago.
The company employs around 800 people in Yorkshire but has a workforce of around 8,500 spread across seven factories around Europe. This is likely to grow further since even while its own sale has been under discussion R&R has been pursuing its own acquisition plans and bought companies including Yoomoo, a frozen yoghurt maker, with sales of around £3 million.
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