The personal fairness agency Lone Star Funds is amongst a pack of suitors that need to devour Princes Foods, the corporate behind a few of Britain’s hottest tinned meals.

Sky News has learnt that Lone Star, together with different monetary buyers together with Epiris and Aurelius, are fascinated with shopping for the corporate.

A deal, which might value a number of hundred million kilos and probably greater than £400m, can be among the many largest within the UK meals sector this 12 months.

City sources stated on Thursday that Newlat, the Italian meals group, and One Rock Capital Partners, one other monetary investor, had been additionally fascinated with a takeover.

It is the most recent try by Mitsubishi Corporation, the large Japanese conglomerate which owns Princes, to dump the corporate.

An earlier public sale carried out this 12 months failed to attract curiosity at a sufficiently enticing worth.

Princes produces tinned fish and fruits, in addition to a spread of soppy drinks.

Houlihan Lokey, the funding financial institution, is engaged on the sale.

Princes has been owned by Mitsubishi since 1989, however traces its roots again to 1900.

Its gross sales declined in 2022, however stays one of many UK’s greatest meals teams, with revenues of near £1.5bn within the 12 months to the tip of March 2022.

Bankers had beforehand instructed {that a} break-up of the corporate was doable, with its oils enterprise one candidate to be disposed of individually.

None of these approached by Sky News would remark.