Wind Point Partners, a US-based private equity firm, is looking at options to sell its portfolio company Hearthside Food Solutions in a deal which reportedly could fetch more than $1bn.
The private equity firm has appointed Barclays to conduct an auction for Hearthside, reported Reuters citing three sources familiar with the matter.
Hearthside is a contract manufacturer of consumer baked foods and snacks. It had earnings before interest, tax, depreciation and amortization (EBITDA) of $120m, the sources said.
Earlier this year, the company was merged with food packaging specialist Ryt-way Industries, to create a major food contract manufacturer.
In May, Hearthside sold its branded and private label cereal, granola and snacks business to Post Foods for $158m.
