The Waddington Group , a private equity-owned manufacturer of plastic plates, cups and cutlery, is exploring a sale that could value the company at around $1.5 billion, including debt, people familiar with the matter said on Monday. Waddington's owner, Stamford, Connecticut-based buyout firm Olympus Partners, has held discussions with investment banks in recent weeks in order to appoint a financial adviser that will run an auction for the company, the people said.
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