Whitworths set for tertiary deal
Food company Whitworths looks set to fall into the hands of a third private equity owner as current backer European Capital seeks an exit.
According to the Grocer, potential buyers including LDC, CapVest and Equistone have entered exclusive talks to purchase the company after it failed to attract bids from trade buyers. European Capital enlisted Stamford Partners to oversee the sales process. The company is expected to sell for £100m.
Whitworths was previously backed by Gresham Private Equity, which supported its £15m management buyout in 2001. The company was then acquired by European Capital for £86m in 2006.
Whitworths is a brand and own-label supplier of dried fruits, nuts and seeds for the culinary ingredients and snacking sector. The company has been operating for more than 125 years.
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