GS Foods Group is reportedly considering a sale which would value the private Ontario, California-based food distribution company at $1.5 billion including debt.
According to a Reuters report citing people familiar with the matter, GS Foods’ owners Highview Capital and A&M Capital Partners have engaged investment bank Harris Williams to explore a sale of the company.
The company makes about $150 million per year in earnings before interest, taxes, deprecation and amortization, the sources told Reuters.
Highview Capital, A&M Capital Partners, and Harris Williams declined requests from the publication for comment.
GS Foods provides food distribution and product solutions to specialized food service segments, including schools, prisons, non-profit organizations, and healthcare facilities.
It announced last month its acquisition of Lamm Food Service, a full-line food distributor headquartered in Lafayette, Louisiana to expand its footprint in the Southeast United States.
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