Griffin's Foods Should Attract Stronger Interest From Bright Food

Private equity firm Pacific Equity Partners (PEP) is reportedly looking to divest its New Zealand snack food and confectionery business Griffin's Foods, which is valued at around AUD750mn (US$734.2mn) including debt, and plans to approach prospective buyers in the next few weeks. Given the massive developed market exposure of Griffin's Foods, PEP could potentially struggle to attract strong buyer interest from global food players such as Kellogg, General Mills and Nestlé. Rather, Chinese food producer Bright Food Group may be more inclined to acquire Griffin's Foods given its stronger penchant for developed market exposure.

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