New Zealand biscuit maker Griffin's may be sold in a deal which could value the company at up to $750 million including debt, Reuters reported.
Pacific Equity Partners (PEP) has appointed investment banks to advise on a possible sale, after it conducted a strategic review of the business earlier this year.
PEP declined to comment.
Griffin's - which makes well-known brands of biscuits such as Chocolate Chippies, Meal Mates, Toffee Pops and Gingernuts and the Eta and Nice & Natural snack brands - was established in Nelson in 1895 before the factory was moved to Lower Hutt in 1938.
An additional factory was opened in Papakura in 1967.
When PEP took over Griffin's from French food group Danone in 2006 for 194 million euros (then worth $391.44 million) the biscuit-maker had a net sales revenue of $176 million.
- NZ HERALD ONLINE