Indian biscuit maker Parle Products is in discussions to consider buying Poland-based peer Dr Gerard from private equity firm Bridgepoint, newspaper Economic Times reported, citing people aware of the matter.
Dr Gerard is valued at 10 billion to 12 billion rupees ($121.72 million to $146.07 million), the report said, with one of the people it cited saying it could be as high as 24 billion rupees.
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, which bought Dr Gerard from Groupe Poult of France in 2013, had appointed investment bank Houlihan Lokey to exit the business earlier this year before the Russia-Ukraine war slowed the sale process considerably, the report added.
Parle, Bridgepoint and Dr Gerard did not immediately respond to Reuters’ requests for comment.