Private equity deal for R&R Ice Cream

R&R Ice Cream has been bought by private equity firm PAI Partners for an undisclosed sum.

North Yorkshire-based R&R’s senior management team, including chief executive and executive chairman James Lambert, will continue to lead the business and are also investing in the company.

The deal provides an exit for Oaktree Capital Management. R&R Ice Cream was created in 2006 by Oaktree Capital Management merging Yorkshire-based Richmond Foods with Roncadin, the largest private label manufacturer in mainland Europe.

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