Shearer’s Foods, a snack maker backed by Ontario Teachers’ Pension Plan, is exploring a sale that could fetch about $3 billion including debt, according to Bloomberg News.
The Massillon, Ohio-based company, founded in the early 1990s, manufactures and distributes potato chips, cheese puffs, cookies and crackers. The company generates more than $250 million a year in earnings before interest, tax, depreciation and amortization, reported Bloomberg. Ontario Teachers’ acquired a majority stake in the snack-maker in 2015 at an undisclosed price, as reported by Bloomberg, and Wind Point Partners retained a small interest.