Los Angeles-based private equity group Brentwood Associates is selling Oriental Trading Company Inc., a crafts and jewelry retailer that is expected to fetch nearly $1 billion, Reuters reported on Friday.

First round bids for the Omaha, Neb.-based company were due about a week ago, Reuters said, citing sources who have seen proprietary financial information relating to its sale. Private equity firms are pursuing the company, along with various corporate buyers.

J.P. Morgan is said to be running the sale.

Brentwood bought Oriental Trading in 2000 for an undisclosed amount. Oriental Trading is expected to generate $85 million to $90 million in full-year earnings before interest, taxes, depreciation and amortization.

Oriental Trading’s business is growing quickly by about 10 percent to 15 percent year-over-year. Consumers can purchase Oriental Trading merchandise through its stores, catalogs or Web site.

Brentwood Associates is a private equity investment firm with over $750 million of capital under management and a 30-year history of investing in middle-market growth companies.