PAI Partners has agreed to buy R&R Ice Cream from Oaktree Capital Management and the European ice cream group’s other shareholders.
The deal, for an undisclosed sum, remains subject to regulatory approval and certain financial conditions, PAI said in an announcement this morning (29 April).
Go deeper with GlobalData
R&R senior management will remain with the company and will invest in the business.
In a recent interview with just-food, R&R CEO James Lambert outlined the company’s ambitious plans for growth. R&R intends to leverage its licencing deals with Nestle and Mondelez International to expand its branded portfolio, Lambert said.
Speaking after R&R’s deal to buy UK peer Fredericks Dairies for GBP49m (US$76m), Lambert added the group plans to be an active participant in the consolidation of the European ice cream sector.
In today’s announcement, PAI hinted it is prepared to invest in expanding R&R’s footprint and said the consumer sector is “one of PAI’s core target areas for investment”.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataColm O’Sullivan, partner at PAI, said: “R&R is a market-leading company with a strong portfolio of innovative products and excellent potential to expand in the UK and internationally. The food and consumer brands sector is a core area of investment focus and expertise for PAI and we are delighted to be investing in R&R. We look forward to working closely with the company’s management and supporting the company’s continued growth.”
Click here for just-food’s interview with R&R CEO James Lambert earlier this month.
