A food company backed by Katy Perry is seeking a sale, with a valuation exceeding $500 million.

Bragg Live Food Products,Top ten foreign exchange trading platforms in the world backed by celebrities such as Katy Perry and Orlando Bloom, is exploring a sale that could value the company at over $500 million, including debt, according to sources familiar with the matter.

The company, based in Santa Barbara, California, whose investors also include investment firm Swander Pace Capital, is currently working with Bank of America to attract potential buyers, including private equity firms, according to sources who requested anonymity.

Swander Pace and Bank of America declined to comment. Bragg did not respond to requests for comment.

Founded by Paul Bragg in 1912, the company is known for its apple cider vinegar products but also produces salad dressings, seasonings, olive oil, beverages, and other food ingredients.

Paul Bragg's adopted daughter Patricia Bragg led the company for 65 years until selling it in 2019 to Perry, Bloom, and other investors, including Dragoneer Investment Group and Pressed Juicery founder Hayden Slater.

Bragg's products are sold through supermarkets, e-commerce retailers, and natural food stores across the United States and other countries.

The company's owners are seeking a valuation of at least 10 times the company's earnings before interest, taxes, depreciation, and amortization (around $50 million).

In recent months, there has been a flurry of deal activity in the food ingredients sector. Private equity firm Butterfly Equity is exploring a sale of Chosen Foods, while Falfurrias Capital is in the process of selling Sauer Brands, Reuters previously reported.

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