BC Partners Poised For Cantrell Buy –

BC Partners this month reportedly offered Allied Domecq as much as GBP530 million ($880 million) for Cantrell & Cochrane, the group’s Irish drinks distributor.

Allied, which took full ownership of the business last July when it acquired 49.6% of Cantrell from Diageo, was initially expected to bring the beer and soft drink distributor public.

BC Partners declined to provide further details.

The Cantrell buyout, if it closes, will be the third deal for BC Partners’ ecu 1 billion BC European Capital VI fund, following the acquisition last year of Hurst Publishing for $432 million and Ross Breeders for $166 million.