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Second round bids for Kettle Chips

by UKPA - 15/02/2010

Second round bids for Kettle Chips

"The maker of upmarket Kettle Chips has attracted a second round of bids after being put up for sale in a £400 million auction, it has been reported."

Kettle Foods, which has a factory in Norwich, is currently owned by Lion Capital, the private equity backer of Weetabix and Wagamama.

The Sunday Telegraph said a number of food groups were in the running for the whole group or just the UK or US assets. It said potential bidders launched second-round bids for the company earlier this month.

United Biscuits, which owns McVitie's, Jacob's and Twiglets, is thought to have offered up to £200 million for the UK part of the business.

A variety of players in the North America market are believed to have made bids, including Cape Cod potato chips maker Lance and pretzel firm Snyder's of Hanover.

Kettle, which makes gourmet style crisps, nuts and tortilla chips, is based in Oregon, where it was founded in 1978.

It started UK production in 1988 and moved to a dedicated site on the outskirts of Norwich in 1992.

Lion Capital bought the business for around £170 million as part of a drive to become the UK's second biggest snack company behind PepsiCo. Other investments in its portfolio include Findus Group, the owner of the brands Findus, Young's and The Seafood Company.

More Details: http://www.google.com/hostednews/ukpress/article/ALeqM5g0B21e0oaIY4nS9mbpsibrwZWt1g