CP Foods, which is Thailand’s largest food manufacturer, with sales of about €7.5bn, already has a UK factory in Newmarket, Suffolk supplying own label foods for supermarkets such as Tesco.
The rumour, which remains unconfirmed, would represent the second instance of Asian interest in a brand with strong UK presence in two weeks, following the sale of Weetabix to China’s Bright Foods.
Permira, Iglo's current UK private equity owner, is known to be tabling bids for Iglo, with first round bids understood to have now been submitted.
Several private equity houses are also believed to be competing for the business, including Clayton Dubilier & Rice, Bain Capital, BC Partners and Blackstone Group. Some reports suggest CP Foods may team up with one of these interested parties to make a joint bid.
