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CZECH - CCMP and Bancroft look for buyers for Nowaco

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According to reports, private equity firm CCMP Capital Advisors is seeking a buyer for its chilled and frozen food distributor Nowaco Central Europe, with the price tag thought to be around EUR 250m.

JPMorgan is said to have been charged with heading the process for which first-round bids have already been submitted.

Nowaco Central Europe distributes chilled and frozen food in the Czech Republic, Slovakia and Hungary. The investors acquired the company in 2005 in a deal estimated at EUR 90m.

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