CHAMP wants Bright Food to pay $638m for Manassen
CHAMP Private Equity is looking to sell Australia’s Manassen Foods to China Bright Food Group for around A$600 million ($638 million), Dow Jones reported, citing people familiar with the matter. An IPO remains a possibility if the trade sale doesn’t come through.
Based on Manassen's EBITDA of A$50.4 million ($53.7 million) for the 2009-2010 fiscal year and the earnings multiple of 11.5x that analysts estimate Asahi paid for New Zealand beverage group Charlie's...
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