LBO France, a Paris-headquartered private equity firm, was looking for offers for Groupe Poult, its private label biscuit producer. According to some people with knowledge of the matter, the bids were due by the end of July.

LBO France was working with Rothschild. One of the sources said that the biscuit manufacturer was expected to be assessed at seven to eight times earnings before interest, taxes, depreciation and amortization. The corporation would be priced at around Eur320 million or US$412 million at the higher end of the estimate's multiple range.

Two people stated that Groupe Poult predicted roughly Eur40 million in Ebitda for 2013 and around Eur240 million of earnings.

In the last two weeks, Poult already delivered marketing materials to its potential buyers. The deal was also expected to attract private equity firms and trade buyers.

In 2006, Groupe Poult was purchased by LBO France. Subsequently, it was put on sale in 2010 while it sought to finalize a different purchase in Poland. However, the talks was postponed because LBO France decided to negotiate with Poult's rival, Bouvard group. LBO France planned to sell 30% of Poult to the said competitor in 2012.