According to reports, the business, which includes Birds Eye fish fingers and frozen peas, generated sales in excess of €1.1bn last year and has been under the ownership of Permira for six years.
Permira has paid down much of Iglo’s debt, leaving it with net debt of €1.4bn, or about four times last year’s earnings before interest, tax, depreciation and amortisation. Permira bought Iglo group in 2006 for €1.7bn from Unilever.
Source: Financial Times
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