The owner of the Birds Eye frozen food brand, Iglo, is to put be up for auction with an expected sale price of £2.5bn, the Sunday Telegraph has reported.
The sale follows a number of approaches made to Iglo’s private equity owner, Permira, the Sunday Telegraph said.
The newspaper reported the sale is likely to attract interest from other private equity investors and attention from East Asian and Indian firms that have bought other British businesses.
Iglo’s financial results will not be announced until the end of April but the Sunday Times predicted its sales will have grown around 2.0 per cent in the past year to €1.1bn with margins increasing to 32 per cent.
Permira bought Iglo from Unilever for €1.7 billion in 2006.
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