Cinven to buy Spice for £251m
Shareholders in Leeds-based Spice will receive 70 pence per share from Cinven's Cilantro Acquisitions, it said in a regulatory disclosure.
Spice had agreed to a period of exclusivity with Cinven until Sept 27 after rebuffing two earlier offers.
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Hide AdSimon Rigby, founder and former chief executive of Spice, said earlier this month that 70 pence a share would be a "tidy" amount, though it remains a far cry from the highs of 130 pence the shares reached in 2007.
Shares in Spice closed on Friday at 66.5 pence. The price being paid by Cinven represents a 40.7 percent premium to the share price on the last day before Spice announced it had been approached.