INTERMEDIATE Capital Group is thought to be eyeing up a big stake in food maker Symington.
The London-listed group is believed to be in talks with Leeds-based Symington, which is currently owned by Bridgepoint, about providing investment to help fund expansion plans.
Symington is hoping to buy up products in order to expand, with Angel Delight from the Premier Foods stable among the brands in the frame.
The 180-year-old group bought soft drinks brand Quosh earlier this year for an undisclosed sum, and said at the time it was aiming to expand its headquarters in order to cope with its ambitious growth plans.
Symington is best known for making Campbell’s soup and Aunt Bessie’s convenience foods. The firm was sold to Hermes Private Equity, which later became Bridggepoint, in 2007.
Intermediate Capital focuses on investment in business services but is alsoan established name in the food sector, having provided minority equity during a management buyout of the Gaucho restaurant chain in 2007.
A spokesperson for Intermediate Capital Group declined to comment yesterday, while no-one at Symington could be reached.