Heinz is expected to receive a number of bids for its European frozen food and seafood businesses early next month.

A number of private equity companies are believed to be keen on a deal is expected to be in the region of £400m.

Heinz European sales volumes fell 3% in the quarter to July largely to the poor performance of its frozen operation.

The list of interested parties is believed to include UK-based FMCG Investments as well as Electra Partners, BC Partners and PAI.

Some analysts suggest that a private equity company may be interested on combining the Heinz businesses with Unilever’s Bird Eye operations and the European arm of Findus currently owned by EQT. Both businesses could be put on the market in the near future.

Topics