Private equity takes on trade in au

The food processing company Gallina Blanca, owned by the Catalan Carulla family (also the owner of Pans & Company, El Pavo and Avecrem) has entered the final stage of the bidding for the Italian group Star, owner of the brand Grand’Italia and producer of soups, stocks and sauces. The family has launched the offer through Gallina Blanca because it operates in the same business area as Star. According to reports in the Italian press, Apax Partners (which recently bought Panrico), BS Private Equity, Eurazeo and Doughty Hanson & Co have also made it through to the final stage. The total value of the deal is expected to be between E700-800m. Star, founded in 1948, is headquartered in Agrate Brianza near Milan and is present in a number of European markets. Last year the group achieved revenues of E579m with profits of around E32m.

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• Southern Europe