AdvancePierre Foods Considers an Initial Public Offering of Stock
June 10, 2016
Six-year-old company is seeking to raise $100 million; will remain majority-owned by Oaktree Capital.
At a time when many food & beverage companies are finding private funding, AdvancePierre Foods is seeking to raise $100 million in an initial public offering of stock.
The Cincinnati company, with $1.6 billion in annual net sales, makes and distributes ready-to-eat sandwiches and snacks. APF was a Food Processing R&D Team of the Year in 2013 and is No. 69 on our Top 100 list of U.S. and Canadian food & beverage processors.
Apparently, Oaktree Capital will remain the controlling shareholder after the IPO, which could happen any day now. Registration papers were filed with the Securities and Exchange Commission back in April.
APF is the result of a 2010 merger of Pierre Foods, Advance Food Co. and Advance Brands – and Advance Brands itself was a joint venture between Advance Food Co. and Cargill Meat Solutions.
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