Lion Capital and Permira Frontrunners to Acquire Findus Italy

Private equity firms Permira and Lion Capital are reportedly emerging as frontrunners to acquire Unilever’s frozen food unit Findus Italy, sources close to the matter said.

In the first-round bid, the firms put in offers while other private equity players queried the clarity of the sale details which, according to industry experts, could earn €700m ($856m).

Findus Italy is being touted to make earnings before interest, tax, depreciation and amortisation of €88.5m ($108m).

Other private equity houses including BC Partners and PAI Partners are likely to have put in bids along with Charterhouse, according to Reuters.

Unilever is expected to pick three to four bidders to go through to the next round.