US: Hearthside Food Solutions "could receive US$1bn bids"
US contract food manufacturer Hearthside Food Solutions could reportedly attract takeover bids of around US$1bn, with final offers due this week.
Citing unnamed sources, Bloomberg has reported three buy-out houses - BC Partners, Goldman Sachs' private-equity arm and Oak Hill Capital Partners - are in the race to buy Hearthside from another private-equity firm, Wind Point Partners.
Hearthside was put for sale late last year, Bloomberg said. Wind Point acquired Hearthside in 2009. Last May, US breakfast cereal group Post Holdings snapped up cereal, granola and snacks assets owned by Hearthside in a deal worth US$158m.
Officials at Wind Point and Oak Hill did not return a request for comment.
Goldman Sachs refused to be drawn on the report when contacted by just-food. A spokesperson for BC Partners said the private-equity firm would not comment on "speculation".
Sectors: Mergers & acquisitions
- Focus: ConAgra own-label exit plan is about growth
- How the CGF plans to halve global food waste
- IRI – The opportunity of range optimisation
- just-food's pick: Top trends at Fancy Food Show
- What Grexit could mean for the food industry
- ConAgra confirms private-label exit
- Kraft Heinz unveils management structure
- Kellogg eyes trends with product launches
- Kraft faces lawsuit over 'natural' claims
- US performance weighs on General Mills