Aurora Foods to undergo financial overhaul

Aurora Foods Inc, a St Louis MO-based producer and marketer of frozen food brands, is undertaking a financial restructuring designed to reduce its outstanding indebtedness, strengthen its balance sheet, and improve its liquidity.

As part of the restructuring, Aurora has entered into an agreement in principle with J W Childs Associates LP, a Boston MA-based private equity investment firm. J W Childs will make an investment of $200 million for a 65.6% equity interest in the reorganized company at a transaction value of about $925 million. Aurora also announced that it has begun discussions with its bank lenders and bondholders regarding terms of the restructuring.

Hide comments

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Publish