Bakkavör to sell stakes in the business

Bakkavor
A number of buyers are interested in stakes in Bakkavor
  (Photo:  )

A bidding war for a stake in UK convenience group Bakkavör is looming after reports of interest from a number of buyers, including private equity firms PAI Partners and Pamplona Capital. 

The company, which supplies the major supermarkets with a wide range of fresh prepared foods, including desserts, bakery products and sandwich wraps, has appointed Barclays to sell stakes in the business held by different investors, according to Sky News. These include a 25% stake owned by Icelandic bank Arion Banki.

The Gudmundsson brothers, Agust and Lydur, who founded the company, do not intend to sell any of their 39% shareholding, according to reports.

Last month, Bakkavör sold the remaining 60% stake of its Italian manufacturing pizza business Italpizza to Dreamfood after the sale of a 40% share in it last year.

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