Carlyle Group to buy Goya Foods for $3.5B - report

Friday, 18. October 2019 17:07

The Carlyle Group is in late-stage talks with Goya Foods Inc. to acquire a majority in the canned-foods producer in a deal valued at approximately $3.5 billion, the New York Post reported on Friday.

Goya started the process in May when it hired The Goldman Sachs Group Inc. to explore its options for a sale, expected at the time to amount up to $3 billion. However, company chief executive Rober Unanue allegedly stalled the sale, insisting Goya was worth as much as $4 billion.

Unanue has also expressed intention to remain in charge of the company, which has been agreed upon with the alternative asset manager headquartered in Washington, people close to the matter told the newspaper.

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Breaking the News / MD