Meat products provider Stampede Culinary explores sale, sources say

The investment firm that owns Stampede Culinary Partners is exploring a sale of the meat products provider that could value the company at nearly $1 billion, including debt, according to people familiar with the matter.

Wynnchurch Capital has tapped investment bankers at Bank of America BAC and North Point to run a sale process, which could be launched early next year and attract interest from other investment firms, the sources said.

Bridgeview, Illinois-based Stampede generates close to $100 million of annual earnings before interest, taxes, depreciation and amortization, the sources said.

Bank of America declined to comment. Stampede, Wynnchurch and North Point did not respond to requests for comment.

While high inflation has driven up food prices in the U.S. and forced consumers to cut back on discretionary spending, demand for meat and high-protein food has remained robust as health-conscious shoppers are shifting towards more protein-rich diets.

Stampede packages and distributes beef, chicken, and other proteins to restaurants, retailers, and grocery chains. It also offers sous vide meals, plant-based foods, pet food, and other food products.

Wynnchurch, which is also based in Illinois and invests in mid-sized companies, acquired Stampede in 2017. It manages $9.2 billion of assets, according to its website.