Rescued by private equityThis article was originally published in Foodnews
A PRIVATE equity firm has taken over Polestar Foods, a UK frozen desserts manufacturer that was close to collapse. Privet Capital has acquired 100% of the equity for an undisclosed sum. Polestar will be restructured to consolidate its joint operations, formerly based in Warwickshire and Devon, into its Okehampton Desserts subsidiary, while the Leamington Desserts branch will be placed in administration. Polestar Foods was established in November 2009 after the acquisition of two frozen desserts businesses from US food company, Heinz.