Bragg Live Food Products, a US-based apple cider vinegar manufacturer, is reportedly exploring a sale that could value the business at $500m, including debt.
News agency Reuters, quoting “people familiar with the matter” reported today (19 June) California-based Bragg has hired Bank of America to help it find potential buyers, which may include private-equity firms.
Founded in 1912 by Paul Bragg, the company also manufactures salad dressings, seasoning blends, olive oil, beverages and other food ingredients.
It is perhaps best known for its apple cider vinegar. The company's board comprises medical doctors, nutritionists and scientists. which counts singer Katy Perry and actor Orlando Bloom among its investors,
Bragg stayed in the family until 2019 when it was sold to a group of investors led by Swander Pace Capital and also including Dragoneer Investment Group and Pressed Juicery founder Hayden Slater, as well as the I Kissed a Girl singer Perry and Pirates of the Caribbean actor Bloom.
Bragg's products are sold through supermarkets, e-commerce retailers and natural food stores in the US and in other countries, including the UK.
Just Food contacted Bragg, Swander Pace and Bank of America, seeking their comments on the Reuters story.
A spokesperson for Swander Pace said they would not be providing any comment.
