Bolthouse Farms, producer of vegetable juices, is owned by a Chicago-based buyout firm, Madison Dearborn Partners, LLC. According to three individuals privy to knowledge on the issue, it appears that Madison Dearborn is at the moment considering either a sale of Bolthouse, or going public with an initial public offering. Madison Dearborn has owned Bolthouse Farms since 2005.
The sale price could be as much as $2 billion, according to the three, who don’t want their names released as negotiations are being conducted privately. Credit Suisse Group was hired to act as an advisor for the deal by Madison Dearborn. Among the consumer-product companies which will be approached to make the purchase is the Campbell Soup Company, in addition to several private equity funds in order to feel-out the interest in a proposed sale.
“As a policy we don’t comment on rumor and speculation, but we have said that we are looking to grow through external developments including mergers and acquisitions,” Anthony Sanzio, a Campbell spokesman.
Bolthouse began almost 100 years ago when the Bolthouse family began vegetable farming in Michigan. Today the company produces several fresh vegetable products including fresh carrots, salad dressings and juices.
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