Tegel Foods conditionally sold to Asian private equity fund

New Zealand business Tegel Foods has been conditionally sold to Asian private equity fund Affinity Equity Partners in a deal worth $605 million, according to reports. The application for sale, which was submitted to the Overseas Investment Office, must still be approved.

New Zealand business Tegel Foods has been conditionally sold to Asian private equity fund Affinity Equity Partners in a deal worth $605 million, according to reports.

The application for sale, which was submitted to the Overseas Investment Office, must still be approved. Tegel is currently owned by Pacific Equity Partners, which bought the company from Heinz for $250 million in 2005.

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