Idaho-based CTI Foods, which makes fajita meat, burgers, soups and sauces for restaurants, is in the marketplace for a possible sale.
Bloomberg News reports this morning that CTI's parent Littlejohn &Co., "is exploring a sale of the prepared-foods supplier that may fetch about $500 million." Representatives of Littlejohn and CTI would not comment on the Bloomberg story, but the news service cited two people familiar with the issue as its primary sources.
Founded in 1986 as SSI Food Services, CTI Foods operates a 190,000-square-foot processing and storage facility in Wilder.
In addition to its home base in Idaho, CTI also owns a ground-beef plant in Pennsylvania and other food processing operations in California, Kentucky and Texas.
Bloomberg reports that CTI generated more than $700 million in sales in its last year.