PEP sells Griffin's to Universal Robina for $700M after capital return, refinancing in 2013

Mon, 21 Jul 2014

By Paul McBeth July 21 (BusinessDesk) - Pacific Equity Partners has sold Griffin's Foods to Universal Robina Corp for $700 million after the Australian private equity firm pulled out capital from its investment and saddled the New Zealand biscuit maker with debt last year. The sale comes after accounts for NZ Snack Food Holdings show the Griffin's holding company made a capital return of $192 million in a share repurchase in the same year PEP refinanced the maker of Gingernuts, Mellow Puffs and Huntley & Palmers crackers and Eta brand sna...

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