:. Food Industry News

Categories: Mergers and Acquisitions

Mars, Nestle Interested in Chocolate Maker Gu

Source: Reuters
03/08/2009

London, Aug 3 - Food groups Nestle and Mars are among the companies interested in London-based chocolate dessert maker Gu, which has been put up for sale by its founders, the Financial Times reported.

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The paper, which did not cite sources, said private equity firms including Langholm Capital were interested in the company, whose asking price is 30-40 million pounds ($50-$65 million).

Cavendish Corporate Finance, which is advising Gu, sent details to interested parties last month and aims to complete a sale by autumn, the paper added.

Gu has increased sales by an average of 66 percent a year since it was founded six years ago, the paper said. A Nestle spokesman declined to comment, while Mars, Gu and Langholm could not be reached for comment.



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