AdvancePierre Foods is interviewing investment banks to prepare for a sale that could value the private equity-owned protein and sandwich supplier at more than $2 billion, including debt, according to people familiar with the matter.
AdvancePierre's private equity owner, Oaktree Capital Group LLC (OAK.N), is meeting with banks this week in order to appoint financial advisors that will help with the company's sale process, the people said.
The sources asked not to be identified because the deliberations are confidential. Representatives for AdvancePierre and Oaktree did not immediately respond to requests for comment.
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