Italian buyout house Investindustrial is said to be in exclusive talks to buy TreeHouse Food’s meal-prep unit at a $1.3bn valuation, Bloomberg reported, quoting people familiar with the matter.
The company’s share price dropped 37% in the twelve months leading to May when activist investor Jana Partners got a seat on its board. It then bounced 33% giving the company a $2.3bn valuation.
Investindustrial exited sintered stone specialist Neolith to CVC in April after holding it for three years.
Investindustrial closed its seventh flagship fund on its €3.75bn hard cap in December 2019.
Read more: AltAssets
