European private equity fund PAI partners plans to sell its less 50 percent stake in France-based gourmet food company Labeyrie Fine Foods worth €572 million ($648 million), reports Les Echos Capital Finance.
The equity fund refused to confirm or deny the sale to IntraFish.
PAI nabbed the stake in the company back in 2014 and will now exit completely if another investor takes over the share, according to the report.
The French food processor has been eyeing an initial public offering since 2016 to coincide with the exit of PAI partners.
