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BC Capital, Oak Hill among final round bidders for US bakery giant Hearthside

5 Mar 2014

Hearthside barsPrivate equity houses BC Partners and Oak Hill Capital are reportedly ready to make final bids for bakery snack business Hearthside Food Solutions, which could fetch up to $1bn.

Goldman Sachs’ private equity arm is also in the final round of bidding according to Bloomberg, which cited people with knowledge of the matter.

Wind Point Partners is selling the business, the largest privately-held independent bakery in the US, after a five-year holding period.

It completed a $400m recapitalisation of the company in the summer of 2012.

Earlier this year UK foods group Premier Foods agreed to sell a controlling interest in its baking business Hovis to private equity firm The Gores Group for £30m.

The deal valued the company at £87.5m including £28.7m of working capital that will be retained by Premier Foods.

In addition, Premier and Gores agreed to provide £45m of loan notes to the company.

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