Dive Brief:
- According to the Financial Times, Paris buyout fund manager AXA Private Equity may put natural ingredient maker Diana up for sale in a deal worth €1 billion ($1.35 billion).
- Blackstone, BC Partners, Cinven, PAI Partners and Charterhouse Capital Partners are among private equity groups allegedly planning to bid on Diana in an early-2014 auction, and JPMorgan Chase & Co is reportedly advising on the sale.
- Diana reportedly raked in €415 million in revenue last year from its food and pharmaceutical industry ingredients.
Dive Insight:
Diana's natural ingredient ranges include fruits, vegetables, meat and seafood, wines and vinegars, and ready-to-use sauces with applications in everything from soups and sauces to confectionery and baby foods. With that level of diversity, it's not hard to see why it would be of value to potential buyers.
