Bain Capital is exploring a potential sale or IPO of its portfolio company Dessert Holdings in a dual-track process that could value the business at more than $3bn, according to a report by Reuters citing people familiar with the matter.
The firm has hired Goldman Sachs and Bank of America to advise on the process, the people said, adding that discussions remain confidential and may not result in a transaction.
Dessert Holdings supplies cakes, pies and other desserts to grocery retailers, restaurants, and foodservice customers across North America. The business reportedly generates more than $200m in annual earnings before interest, taxes, depreciation and amortisation, and around $1bn in annual revenue. Since Bain acquired the company in 2021, Dessert Holdings has expanded its portfolio to seven brands.
The move comes as sponsor-backed consumer companies look again to public markets and strategic exits after a subdued period for IPOs. KKR is working on a listing of beauty group Wella, while Blackstone is preparing restaurant chain Jersey Mike’s Subs for a flotation.
