Sweet success is on the horizon for G founders
CHOCOLATE mousse firm Gü is in the final stages of its proposed sale, with Noble Foods believed to be the front-runner for the deal.
Gü founder James Averdieck founded the brand back in 2003 with £100,000 of personal funds, but appointed Cavendish Corporate Finance in May this year to work on a sale of the group. The pudding maker is set to fetch around £30-£35m.
Prospective buyers have included Nestle, Mars and Yoplait – but egg-maker Noble Foods, which also produces Serious Desserts brands has beaten off its rivals to be in the lead.
Cavendish Corporate Finance partner Paul Herman said: “There was interest from many leading players in the food market. We have now appointed a preferred bidder with the view of closing the deal in the middle of December.”
It is believed that Noble Foods is now in a four week exclusivity period, after other parties were told they were unsuccessful.