Earthbound Farm may be sold

05/07/2013 02:12:00 PM
Mike Hornick

(UPDATED COVERAGE, May 9) Earthbound Farm has hired Barclays to sell the company, according to a Reuters report that the organic grower-shipper hasn’t confirmed or denied.

The process remains in its early stages, but a sale could be valued at $600 million to $700 million, four unnamed sources told the news service.

“We’ve obviously seen the story,” said Samantha Cabaluna, vice president of communications and marketing, in an e-mail. “But regardless of the speculation in the marketplace, as one of the most trusted all-organic brands, we remain committed to meeting the growing global demand for healthy organic food, from our farms to our customers and consumers.”

San Juan Bautista, Calif.-based Earthbound earns about $75 million annually, according to the report.

In 2012, Earthbound Farm revenue topped $460 million, according to Moody’s.

Its investors include Dallas-based private equity firm Kainos Capital. The firm is run by executives from HM Capital’s food and consumer products group. HM Capital acquired about 70% of Earthbound Farm in July 2009.



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Darren Dieterich    
CF, IA  |  May, 08, 2013 at 08:59 AM

Maybe under new ownership they will learn how to call their jewel and garnett yams what they really are... sweet potatoes.

M.J.L.    
CT  |  May, 08, 2013 at 09:07 AM

Lol

    
May, 08, 2013 at 05:30 PM

http://www.avthomasproduce.com/sweetpotato.html

John Baillie    
Salinas Ca  |  May, 09, 2013 at 10:41 AM

Congratulations are in order for this Management Company that took charge after the spinach recall and made this company what it currently is there truthfully is a Lazurus

Fred Reimers    
San Antonio, TX  |  May, 10, 2013 at 10:50 AM

Hats off the senior management comittment to food safety lead by Will Daniels, SVP who I got to know through SQFI after the Spinach outbreak. As Will pointed out at a conference today, food saferty should not ne a competition but rather a shared experience to learn from the mistakes that the industry makes as a whole through a collaborative, shared experience.

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