A service of

Country Archer working with Centerview on sale process to kick off in 2Q

Country Archer Provisions, the meat snack maker, is working with Centerview on a sale process that is expected to kick off next quarter, two sources close to the situation said.

Investment teasers are being prepared to be sent to buy-side advisors and potential acquirers in the coming weeks, according to the sources. First round bids are expected to be collected by the end of 2Q, the first source said. The process should conclude later this year, this source added.

The jerky and meat stick maker is backed by Los Angeles-based private equity firm Monogram Capital Partners, which first invested in Country Archer in 2016.

The San Bernardino, California-based company is on track to notch more than USD 150m in annual revenue this year, both sources said. It generates between USD 15m and USD 30m in earnings before interest, taxes, depreciation and amortization, the second source added.

Private equity firms could value Country Archer at 20x EBITDA, according to the first source. Strategics may value a company of Country Archer’s size at 3x or 4x annual revenue, he said.

The company hired Centerview to explore its strategic options last year after receiving unsolicited inbound overtures from private equity firms and strategics, the sources said. At this stage, chances are 50/50 whether the brand is acquired by a sponsor or strategic, they noted.

Giannuzzi Lewendon provides legal advice to Country Archer.

Country Archer and Monogram declined to comment. Centerview did not return messages.