PE Firms and Food Companies Join MW Brands Bidding Fray

MW Brands has received bidding offers from global private equity firms and food companies which could go up to €700m ($852m).

In addition to buyout firms Permira, BC Partners and Blackstone Group, Bolton Group, Dong Won Fisheries and Thai Union Frozen Products are also enquiring about the deal, people familiar with the matter said.

The Paris-based canned seafood business, which makes John West tuna, is owned by Trilantic Partners in New York and was formerly the private equity arm of the now defunct Lehman Brothers.

In 2006 Trilantic bought MW Brands from HJ Heinz for €425m ($517m).

Trilantic hired advisers to conduct a review of the company and an auction, which is in its second round, is expected to be completed by the end of June.

MW Brands could be sold in a secondary buyout or could also consider a business recapitalisation, according to Reuters.