Credit Suisse, Barclays Capital, Morgan Stanley, BMO Capital Markets and Deutsche Bank led the financing syndication. More than 75 lenders are part of the syndicate and normal working capital needs will be satisfied with a senior secured revolving credit facility supplied by Wells Fargo.
AdvancePierre Foods is owned by funds managed by Oaktree Capital Management LP, current Advance shareholders, and members of the company’s leadership team.
AdvancePierre Foods is a leading supplier of value-added protein and handheld convenience products to the foodservice, school, retail, club, vending and convenience store markets.
Bill Toler, current CEO of Pierre Foods, is the CEO of the new company. The management team for AdvancePierre Foods includes executives from all three companies.
Source: Pierre Foods
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