The private equity owner of frozen food giant Birds Eye Iglo is considering selling the company after receiving a number of unsolicited approaches.
It is understood that Guernsey-based private equity firm Permira, which bought Birds Eye Iglo five years ago, has appointed Credit Suisse to manage a sales process receiving unsolicited expressions of interest. Last year, the group racked up sales of over £1.3bn.
News of the potential sale adds to the turbulence – and intrigue - already seen in the UK seafood industry in recent years.
Earlier this month, Morrisons announced plans to startprocessing seafood next year, following the purchase of a disused factory in Grimsby.
In December, Cumbrian Seafoods and sister company, Border Laird, were bought out of administration by Lion Capital, which owns Young’s Seafood. The OFT is yet to give the green light to the deal – it was expected to announce its decision at the beginning of this month.
In February 2010, British Seafood, a major player, entered administration.