AdvancePierre™ Foods Completes Acquisition of Better Bakery Manufacturing Assets
2015年4月27日 - 10:51PM
ビジネスワイヤ(英語)
AdvancePierre Foods (“AdvancePierre”), a leading supplier of
value-added protein and sandwich solutions to foodservice, retail
and convenience channels, today announced that it has completed the
acquisition of the manufacturing assets of Better Bakery, LLC
(“Better Bakery”), a Valencia, Calif.-based manufacturer of premium
stuffed sandwiches. Production is being relocated to
AdvancePierre’s sandwich manufacturing operation in Caseyville,
Ill.
The addition of Better Bakery’s premium, handcrafted stuffed
sandwiches expands AdvancePierre’s ready-to-eat sandwich platform
and enables new distribution and market penetration with premium
and natural food customers.
Funds managed by Oaktree Capital Management, L.P. are
AdvancePierre’s majority shareholder. Financial terms of the
transaction were not disclosed.
About AdvancePierre Foods
AdvancePierre™ Foods, Inc., headquartered in Cincinnati, Ohio,
is a nationally recognized manufacturer and marketer of value-added
proteins and sandwich products to a wide variety of distribution
outlets including foodservice, retail and convenience store
providers. With revenues of $1.6 billion and more than 4,000
employees, AdvancePierre offers a broad line of packaged
sandwiches; fully cooked beef, chicken, and pork products; uncooked
meat items such as Philly-style steak, breaded beef and stuffed
chicken entrees; and bakery products that are all produced from
high-quality ingredients and provide unparalleled taste,
convenience and value to both operators and their patrons. Funds
managed by Oaktree Capital Management, L.P., a Los Angeles-based
investment firm, is the majority shareholder of AdvancePierre
Foods.
About Oaktree
Oaktree Capital Group, LLC (NYSE: OAK) is a leader among global
investment managers specializing in alternative investments, with
$90.8 billion in assets under management as of December 31, 2014.
The firm emphasizes an opportunistic, value-oriented and
risk-controlled approach to investments in distressed debt,
corporate debt (including high yield debt and senior loans),
control investing, convertible securities, real estate and listed
equities. Headquartered in Los Angeles, the firm has over 900
employees and offices in 17 cities worldwide. For additional
information, please visit Oaktree’s website at
http://www.oaktreecapital.com/.
Vehr CommunicationsLaura Phillips, 513-381-8347 (w)513-325-9985
(c)lphillips@vehrcommunications.com
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