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PAI Partners to Acquire R&R Ice Cream

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PAI Partners to Acquire R&R Ice Cream

PAI Partners to Acquire R&R Ice Cream
April 30
15:10 2013

R&R Ice Cream, the second largest take-home ice cream manufacturer in Europe, is being acquired by private equity group PAI Partners for Eur460 million plus the assumption of debt from Oaktree Capital.

R&R Ice Cream operates 11 plants located in five countries in Europe, including the four largest ice cream markets across the region. Holding leading positions in the UK, German, French and Italian ice cream markets, R&R Ice Cream offers a broad product range of private label and branded ice cream products. It primarily produces take-home ice cream products, including ice cream tubs and multi-packs of ice cream cones, ice lollies, ice cream sticks and ice cream desserts, and impulse products.

For the year ended December 31, 2012, R&R Ice Cream generated revenue of Eur600.2 million and adjusted EBITDA of Eur84.4 million. R&R Ice Cream was created in 2006 following the merger of UK-based Richmond Ice Cream with German ice cream manufacturer Roncadin.

R&R Ice Cream has expanded through a series of strategic acquisitions, the most recent being the purchase of Fredericks, the third largest branded ice cream manufacturer in the UK, for £49.0 million.

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