© Reuters. FILE PHOTO: A view of vegetables displayed at the International Green Week agricultural fair in Berlin, Germany, January 19, 2024. REUTERS/Annegret Hilse/File Photo
By Abigail Summerville
(Reuters) – Private equity-backed Roland Foods is exploring a sale that could value the specialty foods provider at $700 million or more, including debt, people familiar with the matter said.
The company, which buyout firm Vestar Capital Partners acquired in 2013, is working with Wells Fargo on a sale process, the sources said.
Roland generates about $65 million in trailing 12-month earnings before interest, taxes, depreciation and amortization, the sources added.
Vestar and Roland did not comment. Wells Fargo did not respond.
Roland, founded in 1934 and based in New York, imports foods ranging from vegetables to crackers from more than 40 countries. It sells them to food service, retail and restaurant customers.
In 2017, Harvest Partners joined as a minority investor, pumping $125 million into the company. Vestar is a middle-market private equity firm based in New York.
