Private equity firm Thomas H. Lee Partners LP is in advanced talks to acquire Give and Go Prepared Foods Corp, a Canadian maker of thaw-and-serve sweet baked goods such as Two-Bite Brownies, according to people familiar with the matter.
The potential deal illustrates how cash flow-rich companies producing high-calorie confectionaries are still popular with some investment firms, despite the consumer industry's broad move toward healthy eating.
"The consumer today has a split personality. They are increasingly focused on health and wellness, but equally love to splurge on quality indulgences," said Michael Dart, a private equity partner at consulting firm A.T. Kearney who is not involved in the Give and Go Prepared Foods sale process.
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