Australian Financial Review

Fonterra close to selling off Tip Top to one of four bidders

The Australian Financial Review has reported three Australian private equity firms are competing for Tip Top against a European investment group PAI Partners which is fronting for R&R Ice Cream.

The AFR values the brand at between $250-$300 million. The sell-off follows last year's announcement that Tip Top's owner Fonterra has put everything on the table in an assessment of all investments, major assets and partnerships.