Bright Food, PE may eat yogurt with Yoplait
Shanghai-based Bright Food Group Co. has entered a bid to buy 50% of French food giant Yoplait, backed by Europe-focused PE firm PAI Partners. The transaction would value the company at approximately $2.3 billion – the highest of nine bids that have so far been seen. Reports also suggested that AXA Private Equity, Bain Capital and Lion Capital may be in the running.
PAI acquired its 50% share in Yoplait - the world's second-largest yogurt and dairy producer after Danone - in 2002 from French dairy cooperative Sodiaal, which continues to hold a 50% stake, according...
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