(Bloomberg) -- Parcom Capital Management is considering selling Group of Butchers in a deal that could value the meat supplier at about €1 billion ($1.1 billion), people familiar with the matter said.
The Dutch private equity firm is working with JPMorgan Chase & Co. on the potential divestment, which could take place as soon as next year, according to the people. The company has sounded out other food or meat suppliers in the US, Europe and Asia, they said.
Considerations are an early stage and Parcom could opt to keep the business for longer, the people said, asking not to be identified as the information is private. Representatives for Parcom and JPMorgan declined to comment.
Founded in 1997 under the name Dutch Grill Specialties, Group of Butchers produces and distributes meat products including cured beef, smoked sausages, filet américain and meat balls under multiple brands. In October 2020, Parcom agreed to acquire the Tilburg-based company from Equistone Partners Europe Ltd. for an undisclosed amount.
Parcom, established in 1982, has 28 employees and manages €2 billion of assets, according to its website. It’s backer of Hema, one of the biggest retailers in the Netherlands, and men’s apparel wholesaler Just Brands. Earlier this year, the private equity firm reached an agreement to acquire Reco, a family-owned specialist in equipment rental for the professional market.
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