LOS ANGELES, March 21 Michael Foods Group Inc
in early 2014 began seeking "financial and
strategic alternatives" to pursue its growth strategy, the
privately held company said in a regulatory filing on Friday.
The disclosure from Michael Foods came days after Reuters
reported that the egg and dairy products producer owned by
Goldman Sachs Group Inc's private equity unit, is in the
advanced stage of finding a buyer.
People familiar with the process have previously identified
Tyson Foods Inc as the most likely buyer, according to
Other parties in talks with the company include food
manufacturer TreeHouse Foods Inc and private equity
firms Golden Gate Capital and Oaktree Capital Management,
Reuters has reported.
"Management's comments bolster our belief that Michael is on
the block, as has been reported in the media, and we would not
be surprised if Tyson, Hillshire, or TreeHouse were
potential suitors," J.P. Morgan analyst Ken Goldman wrote in a
client note on Friday.
Minnetonka, Minnesota-based Michael Foods produces and
distributes products including specialty eggs, refrigerated
potatoes, cheese and other dairy products.
In its filing on Friday, Michael Foods said it "can provide
no assurances that it will actually enter into such a
transaction or effect any strategic alternatives".
(Reporting by Lisa Baertlein in Los Angeles; Editing by Sophie