Thai firm to bid for Birds Eye
Thai food manufacturer Charoen Pokphand Foods (CP Foods) is to submit a £2.5bn bid for Permira portfolio company Birds Eye, according to reports.
Blackstone and Bain Capital are reported to have lodged first-round bids for the firm on Friday last week.
CP Foods reports annual sales of around £6bn and operates in Thailand and Britain. The firm's UK operations are headquartered in Kidderminster, with a factory in Newmarket. CP Foods produces food under its own label for supermarkets including Tesco. Planned expansion into Asia and Eastern Europe is reported to be CP Foods' principal strategy for growing Birds Eye.
Permira acquired frozen food firm Birds Eye Iglo for €1.7bn from parent company Unilever in 2006, beating rival bids from CapVest and JP Morgan Partners.
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