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Goldman Sachs considers $2bn exit for US-based Michael Foods

17 Feb 2014

Goldman Sachs Private Equity Group could be in line for an exit for portfolio company Michael Foods, after US multinational Tyson Foods entered a bid to acquire the business, Bloomberg reported.

The deal could fetch as much as $2bn, the report said, with a number of private equity firms also said to be considering bids.

Michael Foods is a food processor and distributor with a focus on egg products, refrigerated grocery and potato products, with net sales exceeding $1.5bn. It was acquired by Goldman Sachs in 2010 in a $1.7bn deal from fellow buyout firm Thomas H Lee Partners

Tyson Foods is one of the world’s largest processors and marketers of chicken, beef and pork, as well as prepared foods such as appetisers and snacks.

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