Warburg-Carlyle Stake Deal Said to Value Duravant at $5 Billion

Private equity firm Warburg Pincus has agreed to sell a stake in food processing and packaging equipment maker Duravant to peer Carlyle Group Inc.

The deal values the Downers Grove, Illinois-based company at more than $5 billion, according to people familiar with the matter, who asked not to be identified because they weren’t authorized to speak publicly. Representatives for Warburg and Carlyle declined to comment on valuation and terms.

Warburg, which agreed to buy Duravant from peer Odyssey Investment Partners for an undisclosed sum in 2017, hired advisers this year to look at options for the company.

“Through transformative opportunities ...