R&R Ice Cream scoops up Aussie rival firm Peters Food for £250m

 
Oliver Smith
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EUROPE’S second-largest ice cream maker, R&R Ice Cream, will buy Australian rival Peters Food Group in a deal expected to be worth around AU$450m (£247.5m).

Yorkshire-based R&R, which owns the Kelly’s, Oreo and Rowntree’s Fruit Pastil ice lolly brands, will do the deal with Australia’s biggest private equity firm Pacific Equity Partners.

“By combining the two companies, R&R is further establishing its position as a world leader in the ice cream manufacturing market with a unique presence both in the European and Australian markets and significant increased potential for international expansion,” R&R and Peters said in a joint statement.

The companies did not disclose a sale price, but local media previously reported Pacific Equity Partners was planning to sell Peters in a private sale or via a stock market listing that would value it around AU$450m.

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