Private equity firm TPG Inc is exploring options for Mendocino Farms, including a sale that could value the fast-casual restaurant chain at over $400m, according to people familiar with the matter.
Investment bank North Point is advising on a sale process for Mendocino Farms, which is not certain to lead to any deal, the sources said, requesting anonymity because the matter is confidential.
Mendocino Farms generates more than $30m of 12-months earnings before interest, taxes, depreciation and amortization, according to the sources.
Get the week’s top news delivered directly to your inbox – Sign up for our newsletter
TPG declined to comment. North Point and Mendocino Farms did not immediately respond to requests for comment.
Mendocino Farms, which offers sandwiches and salads, has over 50 locations in California, Texas and Washington. Husband-and-wife team Mario Del Pero and Ellen Chen founded it in 2005 and TPG Growth, the growth equity platform of TPG, acquired a majority stake in the Los Angeles-based company in 2017 from private equity firm L Catterton.
Source: Yahoo! Finance
Can’t stop reading? Read more
Top private equity news of the week
Top private equity news of the week Global Infrastructure Partners and EQT have agreed to acquire...
Advent considers $4bn divestment of naval defense business Ultra Maritime
Advent considers $4bn divestment of naval defense business Ultra Maritime Advent International is...
EQT backs launch of UK tax challenger WTS to rival Big Four
EQT backs launch of UK tax challenger WTS to rival Big Four EQT is backing the launch of WTS UK, a...