Investing.com - Financial Markets Worldwide
June's AI-picked stock updates now live. See what's new in Tech Titans, up 28.5% year to date.Unlock Stocks

Mastronardi Produce explores potential sale -sources

Published 2015-10-23, 03:56 p/m
© Reuters. Mastronardi Produce explores potential sale -sources
BMO
-

By Lauren Hirsch and Greg Roumeliotis
Oct 23 (Reuters) - Mastronardi Produce Ltd, a Canadian
grower and distributor of tomatoes, peppers and cucumbers, is
exploring a sale it hopes could value it at as much as $900
million, including debt, according to people familiar with the
matter.
Privately held Mastronardi has hired Bank of Montreal
BMO.TO to run an auction process, the people said this week,
asking not to be identified because the matter is confidential.
Mastronardi has annual earnings before interest, taxes,
depreciation and amortization of around $88 million, one of the
people added.
Mastronardi Produce and BMO did not respond to requests for
comment.
A fourth generation, family-owned company, Mastronardi was
founded in the 1940s by Umberto Mastronardi. The Kingsville,
Ontario-based company utilizes greenhouse technology in its
facilities and sells its products under the Sunset brand.
Other competitors in the space include Delta Produce LLC,
Village Farms International Inc and Pacific Tomato Growers.

Latest comments

Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.