Gehl Foods’ owner, private-equity firm Wind Point Partners, is reportedly exploring a sale of the US aseptic products manufacturer.
A potential deal could fetch more than $600m, including debt, Reuters suggested, quoting sources familiar with the proceedings, who said Gehl has hired William Blair and Bank of Montreal as financial advisers for the sale process.
The news agency’s sources said potential buyers for Wisconsin-headquartered Gehl may include other private-equity companies, but stressed talks over a possible purchase of the dairy business may not conclude in a deal.
Get the week’s top news delivered directly to your inbox – Sign up for our newsletter
Wind Point acquired Gehl, which trades as Gehl Food and Beverage, in 2015 for an undisclosed sum. The co-manufacturer produces sauces, desserts, soups and broths, as well as coffee creamers and a range of drinks.
The beverages portfolio includes ready-to-drink dairy products, milk alternatives made from oats, soy and almonds and also wines and spirits.
Gehl operates out of three manufacturing facilities: Lathrop, California; Walterboro, South Carolina; and Germantown, Wisconsin.
Source: Just Food
Can’t stop reading? Read more
H.I.G. Capital seals back-to-back exits from Koozie and Soleo in value-driven play
H.I.G. Capital seals back-to-back exits from Koozie and Soleo in value-driven play H.I.G. Capital...
Admiral exits US insurance with sale of Elephant to J.C. Flowers & Co
Admiral exits US insurance with sale of Elephant to J.C. Flowers & Co Admiral Group has agreed...
Fopen appoints Schroders to manage €120m private equity mandate amid shift to private markets
Fopen appoints Schroders to manage €120m private equity mandate amid shift to private markets...