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R&R Ice Cream declines to comment on takeover reports

By Mark Astley , 28-Feb-2013
Last updated on 01-Mar-2013 at 13:21 GMT

R&R Ice Cream declines to comment on takeover reports

R&R Ice Cream – Europe’s largest private label ice cream manufacturer - has declined to comment on reports that it is on the verge of a takeover by French private equity firm, PAI Partners.

Sky News reported earlier today that Paris-based private equity firm PAI Partners is the current frontrunner in the race to acquire UK-based R&R Ice Cream from US investment firm Oaktree Capital Management.

The deal could be worth more than £700m ($1.1bn, €811m), the Sky News report added.

According to the Financial Times, Oaktree Capital is likely to be looking a deal closer to the €1bn ($1.3bn, £865m) mark.

As well as producing ice cream for the likes of Asda, Tesco, and French retailer Carrefour, Yorkshire-based R&R Ice Cream manufactures a number of well-known brands including Fab, Kelly’s Cornish ice cream, and Skinny Cow.

DairyReporter.com approached R&R Ice Cream regarding the takeover rumours.

“We decline to comment,” said a spokesperson for R&R Ice Cream.

The London offices of Oaktree Capital Management, and PAI Partners were also contacted, but no reply was received from either prior to publication.