UNQUOTE

Parcom in talks to acquire Equistone's Group of Butchers – report

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Parcom Capital is in advanced negotiations to acquire a majority stake in Netherlands-based meat supplier Group of Butchers from its current owner Equistone, according to sources familiar with the situation cited by Unquote sister publication Mergermarket.

Equistone acquired Group of Butchers in an SBO from Nordian Capital in December 2016. Equistone invested via Equistone Partners Europe Fund V, which held a final close on 2015 on €2bn and invested in businesses with enterprise values of €50-300m.

Equistone initiated the sale process in 2019, with the asset set to come to market in October, Mergermarket reported. The sale was advised by Rothschild, and final-round bidders in December 2019 included Capvest, TowerBrook, Telemos Capital and Lindsay Goldberg.

The process fell through as the coronavirus pandemic took hold, according to Mergermarket, but the company has benefited from consumer supermarket shopping habits during the crisis. The asset was originally marketed based on EBITDA of around €25m.

Equistone declined to comment. Parcom could not be reached for comment at the time of publication.

Click here to read the full article on Mergermarket.

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