True Value is considering a sale that could value the home-improvement store chain at about $800 million, according to people familiar with the matter.

The company is working with an investment bank to examine strategic options, including a sale, said the people, who asked not to be identified because they weren’t authorized to speak publicly. The process is expected to attract private equity firms, the people said. No final decision has been made and the company may elect not to pursue a sale.

A representative for Chicago-based True Value didn’t respond to emails seeking comment.

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