Montagu To Spend $541M On Dairy Crest's Food Spreads

Law360, Chicago (June 29, 2012, 2:31 PM EDT) -- European buyout firm Montagu Private Equity has agreed to buy French food spread business St Hubert SAS from Dairy Crest Group PLC for €430 million ($541 million) in cash, a deal that will leave Dairy Crest to focus solely on U.K. markets, the companies said Friday.

The deal follows U.K.-based Dairy Crest's announcement in March that it was reviewing its St Hubert business, which produces a line of spreads in France and Italy and reportedly raked in sales of more than $163 million for the year...
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