Marsh Supermarkets Inc. is up for sale again.
Florida-based Sun Capital Partners has completed the turnaround it launched after buying the home-grown chain three years ago and is ready to get rewarded for the labor.
CEO Frank Lazaran said theres no definitive strategy for selling Marsh, but acknowledged Suns plan all along has been to improve the companys performance and then sell it when the market is right, financing is right, and someone is willing to pay a fair multiple.
The company has hired Chicago-based investment adviser William Blair & Co. to begin soliciting offers for the company in early 2010, IBJ has learned. The asking price is expected to range between $130 million and $150 million.
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