Costa Group said to interest Fosun, Driscoll's, Canada Pension Plan Investment Board, and private equity
Fosun, Driscoll’s and Canada Pension Plan Investment Board are said to be among buyers for Costa Group, the Australian fruit and vegetables business, the Australian Financial Review reported.
According to the report in the paper’s Street Talk column private equity buyers, including The Carlyle Group, Bain Capital, CHAMP Private Equity, and Barings Private Equity, are also considering indicative offers, but could struggle to compete on price.
The report noted that Costa’s owners, the Costa family and Paine & Partners are considering whether to list the company or sell it to a trade player.
Costa could be worth up to AUD 1bn (USD 767m).
Goldman Sachs and UBS are advising Costa.
An item in The Australian said that an Asia-based buyer is thought most likely to buy Costa.
The item said that Monde Nissin, the Philippines-based food business, could be actively looking at Costa, since its has been acquisitive in Australia recently.
The item also noted that private equity groups, including Kohlberg Kravis Roberts, CHAMP Private Equity, and Pacific Equity Partners have been deterred from Costa due to price.
Australian Financial Review, The Australian