By Edward Devlin2021-05-14T07:23:00+01:00
Top story
Poundland owner Pepco is has set its price in the upcoming Polish IPO at a discount, valuing the budget retail chain at $5bn (£4.3bn).
Steinhoff, the South African parent company of Pepco, set the price of shares in the flotation at 40 zlotys a piece (€8.82).
It puts the offer at the lower end of the range of 38 zlotys (€8.32) and 46 zlotys (€10.08), guided by the group earlier this month.
Pepco will look to raise about €700m from the sale of more than 80 million existing shares in the IPO, but has room to sell up to 92.5 million if demand allows.
By Edward Devlin2021-05-13T12:58:00+01:00
Former Burton’s CEO Ben Clarke is working with Bain on an offer for the Wagon Wheels and Jammie Dodgers maker
PE giant Bain Capital is eyeing a takeover of Burton’s Biscuits as it seeks to double down on the UK ambient food industry following its buyout of Valeo Foods Group this week.
The Boston-based investor is among the final suitors for the UK’s second-largest biscuit manufacturer as the auction run by investment bank Stamford Partners races towards a conclusion, The Grocer has learned.
Former Burton’s CEO Ben Clarke is working with Bain, which has more than $130bn in assets under management, on an offer for the Wagon Wheels and Jammie Dodgers maker.
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By Edward Devlin2021-02-25T16:18:00+00:00
Retail sales of Wagon Wheels are up 18%, Jammie Dodgers up 5.4% and Maryland Cookies up 1.8%, according to The Grocer’s Top Products Survey with Nielsen
Jammie Dodgers and Wagon Wheels maker Burton’s Biscuits is being put up for sale after its owner appointed bankers to explore options.
Ontario Teachers’ Pension Plan, which bought Burton’s in 2013, has hired advisors at Stamford Partners to run the process for the UK’s second largest biscuit manufacturer over the coming months, The Grocer has learned.
City sources said the auction was expected to be highly competitive and could fetch upwards of £360m after demand for biscuits skyrocketed during the pandemic as shoppers stocked up cupboards with household favourites throughout lockdown.