Earthbound Farm Organic, a leading grower of organic produce in the US, is evaluating plans to sell the company, which is valued at approximately $700m.
Earthbound Farm Organic has appointed Barclays to sell the company. The sale process is in the early stages of negotiations, reported Reuters citing sources familiar with the matter.
Earthbound Farm Organic, which is backed by Dallas-based private equity firm Kainos Capital, posted earnings before interest, taxes, depreciation and amortization (EBITDA) of $75m and revenues of $460m in 2012.
Established in 1984, Earthbound Farm is a grower and packages items such as salads, vegetables and fruit. The company had started on a 2.5 acre garden in Carmel Valley, California and has expanded to 26,000 acres. Earthbound Farm was the first company to sell pre-washed bagged salads.
