Private equity firm Wind Point Partners is exploring a sale of Hearthside Food Solutions LLC, the largest food contract manufacturer and largest privately held bakery in the United States, three people familiar with the matter said last week.
Wind Point has asked Barclays Plc to run an auction for Hearthside, hoping it can fetch more than $1 billion, the people said, asking not to be identified as the sale process is confidential.
Hearthside has earnings before interest, tax, depreciation and amortization of around $120 million, two of the people added.
Wind Point and Hearthside did not respond to requests for comment while Barclays declined to comment.
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