- Buyout firm working with adviser, bids expected within month
- Fort Dearborn makes labels for Del Monte, Slim-Fast products
U.S. buyout firm KRG Capital is exploring a sale of Fort Dearborn, which makes labels for companies including Del Monte Pacific Ltd. and Slim-Fast Foods Co., said people familiar with the matter.
KRG, based in Denver, is working with an adviser to seek bids for the company, said the people, who asked not to be identified because the information is private. The sale, which could fetch as much as $800 million, is attracting interest from other private equity firms, and first round bids are due in May, the people said.
The buyout firm invested an undisclosed sum in Fort Dearborn in 2010 and has backed the company with bolt-on acquisitions, most recently beverage-label supplier Core Label in 2015, according to the company’s website. An earlier attempt to sell Fort Dearborn was halted last year, the people said.
Fort Dearborn, which is based in Elk Grove, Illinois and can trace its origins back to 1925, makes a range of labels for food, beverage and beauty brands, including Dove cosmetics and Red Rock Brewing, according to its website.
Spokesmen for KRG and Fort Dearborn didn’t respond to e-mail requests seeking comment.