Nov. 1 (Bloomberg) -- Private-equity firms Pamplona Capital Management LLP and Rhone Capital LLC are considering bids for Innovia Films Ltd., the U.K. food and tobacco packaging maker owned by Arle Capital Partners LLP, according to four people with knowledge of the matter.
Platinum Equity LLC may also make an offer for the Wigton, England-based company, which is valued at about 500 million euros ($676 million), said the people who asked not to be identified because the talks are private.
Initial bids are likely to be made at the end of November, two of the people said. Candover Partners Ltd., the former manager of Arle’s investments, acquired the business in a transaction valued at about 320 million euros in 2004.
Innovia is the last company remaining in the 2001 Candover fund, which has been managed by Arle since 2011, following the sale of defense company Qioptiq Ltd. to Excelitas Technologies Corp. for an undisclosed sum in September.
Officials at Arle and Pamplona declined to comment, while spokesmen for Rhone, Platinum and Innovia didn’t respond to an e-mail and telephone requests seeking comment.
--Editors: Jon Menon, Steve Bailey