JERUSALEM Dec 15 Israeli food and drinks maker
Strauss Group said on Thursday that U.S. buyout firm
TPG Capital Management was looking to sell its 25.1
percent stake in one of the group's units, Strauss Coffee.
Strauss, a maker of snacks, fresh foods and coffee, is a
market leader in roast and ground coffee in central and eastern
Europe and Brazil.
TPG bought its stake in Strauss Coffee in 2008 for $293
million, but relations between the partners soured after TPG
tried to keep a former TPG employee from losing his job as chief
executive of the coffee firm. It lost that fight in court and
the former employee was ousted in 2014.
Strauss Group said last year it was examining an initial
public offering of its coffee subsidiary on a U.S. stock
exchange, but that never materialized.
Strauss said in its statement to the Tel Aviv Stock Exchange
that it has yet to decide on how to respond to the possible sale
of TPG's stake.
(Reporting by Ari Rabinovitch)