Private equity firm sells leading frozen food company for €1.2bn

CAPVEST, the British-based specialistprivate equity firm rumoured to have been in the bidding to buy Breeo Foods, sold to Kerry Group for €165m, has announced the sale of the Foodvest Group to Lion Capital for a sum of over €1.26 billion.

Foodvest’s leadership of the frozen food category in its core markets is achieved through two primary business segments which include Young’s and Findus.

The group is a large frozen food manufacturer in Europe, with dominant positions in Britain, Scandinavia and France. It is also growing in eastern Europe.