The sale of UK luxury desserts maker Gü is expected to be finalised by the end of the year, the lead adviser handling the deal has told just-food.
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Paul Herman, a partner at Cavendish Corporate Finance, which is leading the exclusive talks between Gü and suitor Noble Foods, said the sale was “moving to plan”.
“It has been a business that has attracted – and still attracts – a very significant amount of interest,” Herman told just-food last night (15 December). “We expect to reach a conclusion by the end of the year.”
Herman refused to be drawn on which other companies had lodged an interest in Gü but just-food understands that a number of established desserts businesses have been in the race for the business.
Last month, Noble, the UK’s largest egg producer, revealed it had started talks with Cavendish to buy Gü.
Noble told just-food yesterday that talks were continuing and that there was “no update on the situation”.
However, it is understood that the talks between Noble and Gü centre on the egg firm taking a significant controlling interest in the puddings maker as part of a deal worth GBP30-35m (US$48.9-57m).
The management at Gü, which was founded in 2003 by owner and managing director James Averdieck, are also understood to be planning to stay on to help develop the business.
Cavendish’s Herman declined to comment on the specific details of the discussions.
