Phillips Pet Food & Supplies is reportedly in talks with potential buyers to sell the distribution company in a deal that could be worth nearly US$600 million.

The family owned company recently hired Harris Williams to seek out buyers, according to sources. The company, based in Easton, Pennsylvania, USA, has nearly US$60 million in annual earnings before tax, interest, depreciation and amortization, and may be looking to sell the company for an amount 10 times its annual earnings.