Newsbreak : Goya Foods Nears Sale to Carlyle in $3.5B Deal - Report

Investing.com - Goya Foods reportedly is in late-stage talks to sell a majority stake to The Carlyle Group (NASDAQ:CG) in a deal that would value the canned-foods giant at about $3.5 billion, The New York Post reported.

Goya's rice, beans, olives and cooking oils are ubiquitous on shelves across supermarkets throughout the U.S. The company is being valued at a healthy mid-teens multiple to its EBITDA, or earnings before interest, taxes, depreciation and amortization, the New York Post reported, citing a source briefed on the talks.

In May the company hired Goldman Sachs (NYSE:GS) to explore its options in what was expected to be a $3 billion sale.

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