- 3i may fetch more than $350 million for the baby bottle brand
- Chinese buyers spent over $50 billion on Europe deals in 2016
China’s Goodbaby International Holdings Ltd. is among companies exploring a bid for Mayborn Group Ltd., the British maker of the Tommee Tippee line of baby bottles and toddler cups, people familiar with the matter said.
Private equity firm 3i Group Plc, Mayborn’s owner, could fetch more than $350 million for the asset, the people said, asking not to be named as the details aren’t public. Mayborn has also attracted interest from other Asian companies and private equity firms, one of the people said. The talks are ongoing and no final decision has been made, they said.
If Goodbaby has the winning bid, it’ll be part of a growing trend of Chinese companies buying European assets. Chinese acquirers have announced more than $50 billion in deals for European targets this year, according to data compiled by Bloomberg.
Representatives for 3i and Mayborn declined to comment. Goodbaby didn’t immediately respond to an e-mail requesting comment after regular business hours.
3i took Cramlington, England-based Mayborn private for 200 million euros ($223 million) in 2006, according to its website. Mayborn’s products are sold in more than 70 countries, including the U.S., the U.K. and Australia.