US sandwich maker AdvancePierre Foods is reportedly being prepared for a sale.
According to Reuters, AdvancePierre’s private-equity owner, Oaktree Capital Management, is meeting with banks to appoint financial advisors to assist with a sale of the company.
The sale could fetch more than US$2bn, according to people familiar with the matter.
Oaktree declined to comment when approached by just-food. AdvancePierre could not be reached for comment at time of press.
Last month, AdvancePierre struck a deal to buy the manufacturing operations of fellow US sandwich firm Landshire.
AdvancePierre was created in 2010 through the merger of Pierre Foods, Advance Food Company and Advance Brands.
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