Thursday, March 15, 2007

ITC Foods to bid for UK’s pickles and spices brands Patak’s

ITC Foods may turn out to put in a formal bid for Britain’s popular pickles and Indian curries brand Patak’s. Heinz, which already has a partnership with Patak’s, is also said to be interested in the company. The valuation of Patak’s has been put around £200 mn, which is considered to be bit pricier for potential partners or buyers. ITC Foods has been approached by Patak’s investment banker NM Rothschild with a proposal.

Read more in The Economic Times article.

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