PAI looking to buy R&R Ice Cream for up to €1bn
PAI partners has edged closer to buying British ice cream manufacturer R&R Ice Cream from Oaktree Capital, according to reports.
Oaktree Capital, which owns an 82% stake, put the business up for sale more than a year ago. The sale could yield as much as €1bn for Oaktree's share. The remaining 18% of the company is owned by its management, led by chairman and founder James Lambert.
R&R Ice Cream is a Yorkshire-based manufacturer of ice cream, supplying Tesco and Carrefour store brands, as well as Nestle's KitKat, Aero and Fab ice creams. James Lambert and Jonathan Ropner founded the business in 1985. It employs 3,500 people and operates seven plants across Europe.
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