McDermott Steers Intersnack To $645M KP Snacks Buy

Law360, New York (December 5, 2012, 12:02 PM EST) -- Germany's Intersnack Group GmbH & Co. will swallow up private equity-backed British snackmaker KP Snacks to give itself a stronger presence in the U.K., the companies said Wednesday, in a deal reportedly worth as much as £400 million ($645 million).

Neither the buyer nor the sellers — private equity houses Blackstone Group LP and PAI Partners — officially disclosed the transaction's financial terms, though several media outlets cited unnamed sources close to the negotiations who pegged the purchase price. The parties could not immediately be reached...
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