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LBO France Said to Seek Groupe Poult Bids by End July

LBO France is seeking offers for its private-label biscuit manufacturer Groupe Poult, people familiar with the process said. Bids are due by the end of the month, one of the people said.

LBO France, a Paris-based private-equity firm, is working with Rothschild, the people said. The biscuit maker may be valued at seven to eight times earnings before interest, taxes, depreciation and amortization, said one of the people, who asked not to be identified because the plans are private. At the higher end of the forecast’s multiple range, the company would be valued at about 320 million euros ($412 million).

The company is forecasting about 40 million euros in Ebitda this year and about 240 million euros of revenue, two of the people said.

Poult, based in Montauban, France, sent marketing material to prospective buyers within the last two weeks, three of the people said. The deal may draw interest from private equity and trade buyers, one of them said.

LBO France acquired Groupe Poult in 2006, according to the private-equity firm’s website. Poult was for sale in 2010 as it sought to complete a separate acquisition in Poland, one of the people said. That process was put on hold, the person said. Last year, LBO France was in talks to sell 30 percent of Poult to its competitor the Bouvard group, French media such as Agefi reported at the time.

Emile Poult, who founded one of the companies that would merge to form Groupe Poult, made his first biscuit in 1883 at Montauban.

Representatives of LBO France and Rothschild declined to comment.

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