<p style="text-indent:0px; line-height:12px;"><span style="font-weight:bold;line-height:130%"> San Juan Bautista, CA</span><hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding"><hr class="invisible minimal-padding">By Eric Anderson<hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding"><hr class="invisible minimal-padding">5.7.13</p><hr class="legacyRuler"><hr class="invisible minimal-padding"><hr class="invisible minimal-padding"><p>Earthbound Farm Organic is exploring a sale of the company, according to Reuters.<hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding"><hr class="invisible minimal-padding">The company, which is the largest grower of organic produce in the U.S., has hired Barclays to sell in a deal that could be worth $600 million to $700 million, as reported by the publication, citing four sources familiar with the matter.<hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding"><hr class="invisible minimal-padding"><img src="https://cdn.andnowuknow.com/legacyWriterImages/earthboundbanner050613.jpg" alt="IMAGES050613" /><hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding"><hr class="invisible minimal-padding">The sale process is reported to be in the early stages. The company has roughly $75 million in annual earnings before interest, taxes, depreciation and amortization (EBITDA) and 2012 revenues of over $460 million.<hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding"><hr class="invisible minimal-padding">Organic food acquisitions have brought high figures to the table as of late. In July 2012, high-end juice maker Bolthouse Foods was acquired by Campbell Soup Co for $1.6 billion, about 11 times EBITDA.<hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding"><hr class="invisible minimal-padding">A pioneer of pre-washed bagged salads, San Juan Bautista, California-based Earthbound Farm grows and packages items including salads, vegetables and fruit and spans 26,000 acres.<hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding"><hr class="invisible minimal-padding">Stay tuned to AndNowUKnow for the latest word on the deal.<hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding"><hr class="invisible minimal-padding"><a class="btn btn-sm btn-primary col-lg-12" style="white-space: normal;" href=" http://www.reuters.com/article/2013/05/06/earthbound-sale-idUSL2N0DK1JX20130506" target="_new">Earthbound Report</a></p><hr class="legacyRuler"><hr class="invisible minimal-padding"><hr class="invisible minimal-padding">
