India's largest biscuits maker Parle Products is in talks to buy Poland-based company dr Gerard from private equity firm Bridgepoint, according to a report by The Economic Times quoting sources.
dr Gerard is valued at Rs 1,000 crore to Rs 1,200 crore, the report said, with one of the people it cited saying it could be as high as Rs 2,400 crore.
Founded in 1993, dr Gerard makes over 200 different biscuits and salty snacks and exports to more than 30 countries, according to its website.
Bridgepoint bought dr Gerard from Groupe Poult of France in 2013. Earlier this year it had appointed investment bank Houlihan Lokey to exit the business before the Russia-Ukraine war slowed the sale process considerably, the report added.
The initial discussions with Parle reportedly focussed on contract manufacturing opportunities but then Bridgepoint decided to put the company on the block.
If the deal goes through, this will be the first acquisition by Parle, the report said.