Earthbound Farm Organic Exploring Sale for Possible 600 Million to 700 Million Dollars
San Juan Bautista, CA
By Eric Anderson
5.7.13
Earthbound Farm Organic is exploring a sale of the company, according to Reuters.
The company, which is the largest grower of organic produce in the U.S., has hired Barclays to sell in a deal that could be worth $600 million to $700 million, as reported by the publication, citing four sources familiar with the matter.
The sale process is reported to be in the early stages. The company has roughly $75 million in annual earnings before interest, taxes, depreciation and amortization (EBITDA) and 2012 revenues of over $460 million.
Organic food acquisitions have brought high figures to the table as of late. In July 2012, high-end juice maker Bolthouse Foods was acquired by Campbell Soup Co for $1.6 billion, about 11 times EBITDA.
A pioneer of pre-washed bagged salads, San Juan Bautista, California-based Earthbound Farm grows and packages items including salads, vegetables and fruit and spans 26,000 acres.
Stay tuned to AndNowUKnow for the latest word on the deal.
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