(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.