J Sainsbury has lodged an offer to acquire Planet Organic’s brand – but not its stores – as it teeters on the brink of collapse, Sky News understands.
J Sainsbury, the supermarket giant, has joined a queue of bargain-hunting shoppers examining a last-ditch rescue of the Planet Organic brand.
Sky News has learnt that Sainsbury's has pitched an offer for Planet Organic's name and intellectual property assets in a deal that would probably be implemented through an insolvency process. Retail industry sources said the grocer's interest was"speculative" and downplayed the chances of a deal taking place.
It comes after rivals including Waitrose have also held talks with Planet Organic's advisers at Interpath Advisory about a deal.Holland & Barrett was also weighing an eleventh-hour bidInsiders tipped H&B, which is owned by the Russian-linked investment group LetterOne, as the likelier buyer of parts of Planet Organic.
Redbus Ventures, an investment vehicle set up by one of the founders of Lovefilm, has also lodged an offer.
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