Permira Puts Birds Eye Iglo Up for Sale

Birds Eye Iglo, the frozen foods business bought out of Unilever by the private equity group Permira, is joining the shopping trolley of food assets up for sale, the Financial Times reported on Monday. A sale is expected to raise approaching 3 billion euros, according to the article.

(Reuters) – Birds Eye Iglo, the frozen foods business bought out of Unilever by the private equity group Permira PERM.UL, is joining the shopping trolley of food assets up for sale, the Financial Times reported on Monday.

 

The business, which includes Birds Eye fish fingers and frozen peas and generated sales in excess of 1.1 billion euros (919.74 million pounds) last year, has been under the ownership of Permira for five years, the FT said.

 

A sale is expected to raise approaching 3 billion euros, according to the article.

 

Permira was nudged into appointing Credit Suisse (CSGN.VX) to manage a sales process after receiving unsolicited expressions of interest, according to people close to the situation cited by the FT.

 

(Reporting by Stephen Mangan, Editing by G Crosse)