Bragg Live Food Products Explores Sale Valued Over $500 Million
Bragg Live Food Products, the well-known maker of apple cider vinegar, is exploring a potential sale that could value the company at more than $500 million, including debt. The company, backed by celebrities Katy Perry and Orlando Bloom, is receiving interest from potential buyers, according to sources familiar with the matter.
Company Background
Founded in 1912 by Paul Bragg, this Santa Barbara, California-based company has grown famous for its apple cider vinegar products. Over the years, Bragg has expanded its offerings to include salad dressings, seasoning blends, olive oil, beverages, and other food ingredients.
For 65 years, the company was led by Patricia Bragg, Paul's adopted daughter. In 2019, she sold the business to a group that included Perry, Bloom, Dragoneer Investment Group, and Pressed Juicery founder Hayden Slater.
Sales Channels and Reach
Bragg's products are widely available across supermarkets, e-commerce retailers, and natural foods stores not only in the United States but also internationally.
Financial Expectations
The current owners are aiming for a valuation equivalent to at least 10 times the company's earnings. Bragg's estimated earnings before interest, taxes, depreciation, and amortization (EBITDA) are about $50 million, sources indicated.
Industry Context
The food ingredients sector has seen significant activity in recent months. Private equity firm Butterfly Equity is exploring a sale of Chosen Foods, while Falfurrias Capital is also in the process of selling Sauer Brands.
With Bank of America assisting in the search for potential buyers, Bragg is positioned for a major deal that could further reshape the food ingredients market.
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