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March 29, 2016

Ready Pac Foods ‘to start sale process within two years’

Ready Pac Foods, the US produce supplier, is to start looking for a new owner within the next two years.

By Dean Best

Ready Pac Foods, the US produce supplier, is to start looking for a new owner within the next two years.

CEO Tony Sarsam told Bloomberg the company could appeal to larger groups looking to boost their presence in the faster-growing parts of the US grocery store.

“We solve a lot of problems for consumers looking for healthy meals,” Sarsam was quoted as saying. “That’s a horse we can ride.”

California-based Ready Pac Foods is owned by US private-equity firm H.I.G. Capital, which invested in the business in 2007.

Ready Pac Foods had not returned a request for comment at the time of publication.

Sarsam joined Ready Pac Foods in 2013. Prior to taking the role, he worked for Nestle for seven years, including a stint from 2010 as president of its direct-store-delivery unit in the US. Before Nestle, Sarsam spent 20 years at PepsiCo in a variety of roles in sales, distribution and finance.

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