Golden West Food Group Is Said to Weigh Options Including Sale
(Bloomberg) -- Golden West Food Group Inc. is exploring strategic options including a sale that could value the food processor and distributor at more than $1 billion, according to people familiar with the matter.
The Vernon, California-based company is working with an adviser on the effort, said the people, who asked not to be identified because they weren’t authorized to speak publicly. Early meetings with potential buyers have been held, one of the people said.
A final decision to pursue a sale hasn’t been made and Golden West could decide to remain private, the people said.
A representative for Golden West didn’t immediately respond to a request for comment.
The move would follow a year in which food processors and retailers have benefited from stay-at-home dining. Potato-chip maker Utz Brands Inc. went public last year in a reverse merger, while Carrefour SA agreed last month to buy Walmart Inc.’s former Brazil unit.
Golden West offers food packing for national supermarkets, private-label food manufacturing for retailers and production of licensed national brands including Jack Daniel’s Meats and Teva Kosher Foods, according to its website.
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