date:Sep 26, 2013
Founded in 1938, the family-owned and operated business has hired Harris Williams to seek buyers in a process that has recently kicked off, two of the sources said.
Phillips Pet Supply and Harris Williams could not be reached for comment.
The Easton, Pennsylvania-based company has about $60 million in annual earnings before tax, interest, depreciation and amortization, one of the sources said, and is looking for a sale price of around 10 times annual earnings.
Phillips Pet's customers include