Private equity firm PAI Partners has received nine bids for its 50% stake in yogurt company Yoplait, Reuters reported, citing an article in French newspaper Journal du Dimanche. U.S. foodmaker General Mills and Switzerland’s Nestle are among the bidders. Yoplait, the world’s second-biggest yogurt maker, is half owned by PAI Partners and farming cooperative Sodiaal. PAI hired banks in September to find buyers for its stake, Reuters wrote.
(Reuters) – Private equity firm PAI Partners has received nine bids for its 50 percent stake in French yoghurt maker Yoplait, French newspaper Journal du Dimanche reported on Sunday.
Among the bids on the table are offers from U.S. foodmaker General Mills and Switzerland’s Nestle, the weekly reported without giving its sources.
Unlisted Yoplait, the world’s second-biggest yoghurt maker after Danone, is half owned by PAI Partners and farming cooperative Sodiaal. PAI hired banks in September to find buyers for its stake.
Other bidders reportedly include Mexico’s Grupo Lala, Chinese conglomerate Bright Food Group, French cheese maker Bel and French dairy group Lactalis as well as private equity firm’s Axa Private Equity , Bain Capital and Lion Capital.
PAI Partners could not be reached on Sunday to comment on the report.
The newspaper said French sovereign fund, Fond Strategique d’Investissement, is closely following what it considers to be a “sensitive” case and could consider teaming up with a French company in the sector such as Bel.
A previous offer by Lactalis for the whole of Yoplait was rejected by Sodiaal, which said it did not want to sell its stake. (Reporting by Leigh Thomas; Editing by David Holmes)