Lance, Diamond in bidding for Kettle -Bloomberg

NEW YORK, Feb 3 (BestGrowthStock) – Snack food companies Lance Inc
(LNCE.O: ) and Diamond Foods Inc (DMND.O: ) are among the bidders
for privately held potato-chip maker Kettle Foods, according to
a report on Bloomberg’s website.

The story, which cites people familiar with the matter,
said that a sale by Kettle’s owner, London private-equity firm
Lion Capital LLP, could be announced in the next 30 days.

Bloomberg also cited PepsiCo Inc (PEP.N: ) as a bidder. The
Wall Street Journal had also reported PepsiCo as a bidder in
December.

Also in December, Reuters had reported that Lion Capital, a
consumer-sector focused firm, was looking to sell Kettle Foods
for about $700 million, according to a person familiar with the
matter.

Lion, whose other portfolio companies include the Wagamama
chain of noodle restaurants and Weetabix breakfast cereal,
hired investment bank Rothschild [ROT.UL] to help sell the
Salem, Oregon-based Kettle, the person had told Reuters.

The buyout firm had acquired Kettle in 2006 for a valuation
of between $280 million and $320 million, a source familiar
with the matter said at the time.

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(Reporting by Sinead Carew; Editing by Gary Hill)

Lance, Diamond in bidding for Kettle -Bloomberg