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Bragg Live Food Products, renowned for its apple cider vinegar and other food items, is contemplating a sale that could value the company at more than $500 million, including debt.
According to sources familiar with the matter, the potential sale has attracted interest from private equity firms and is being facilitated by Bank of America.
Company Background:
Founded in 1912 by Paul Bragg and headquartered in Santa Barbara, California, Bragg Live Food Products has built a strong reputation for its apple cider vinegar, salad dressings, seasoning blends, olive oil, beverages, and other food ingredients.
The company’s products are distributed through supermarkets, e-commerce platforms, and natural foods stores across the United States and internationally.
Ownership and History:
Patricia Bragg, Paul Bragg’s adopted daughter, led the business for 65 years until its sale in 2019. The company is backed by celebrity Katy Perry and Orlando Bloom, investment firm Swander Pace Capital, Dragoneer Investment Group, and Pressed Juicery founder Hayden Slater.
Bank of America is assisting Bragg Live Food Products in the sale process, targeting potential buyers in the private equity sector.
The company’s owners aim for a valuation that reflects at least 10 times the company’s earnings before interest, depreciation, taxes, and amortization (EBITDA), estimated at about $50 million.
Industry Context:
The food ingredients sector has seen heightened activity in mergers and acquisitions recently.
Other notable transactions include private equity firm Butterfly Equity exploring a sale of Chosen Foods and Falfurrias Capital initiating a sale process for Sauer Brands.
