Sun Capital Partners, the owner of Bonmarché and Dreams, is among a group of private equity firms considering acquiring British frozen food giant Young’s Seafood.
According to The Daily Telegraph, Stamford Partners have been called in to handle the sale process, which could value Young’s at up to £300 million.
Young’s has been owned by Lion Capital, Bain Capital and HPS Investment Partners since 2008, but the firms announced plans to sell the business late last week, stating that they “intend to start a structured and open bidding process”.
READ MORE:
Bonmarché sales drop 11.1% in final quarter
Based in Grimsby, Young’s is the town’s biggest private employer, and news of the sale comes after speculation over a potential sale all winter.
With more 1,500 employees working across three factories, Young’s also recently announced it would create 200 more jobs to handle its new Marks & Spencer contracts.
Click here to sign up to Retail Gazette‘s free daily email newsletter
