ITC Foods is likely 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, could also be interested in the company, said sources.
The £200-million price tag, however, could be a sticking point as it is being seems a tad on the higher side for
potential partners or buyers.
According to information with ET, the tobacco major has been approached by Patak’s investment banker NM Rothschild with a proposal.A decision will be taken once the company has studied the details,” said people close to ITC.
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