AdvancePierre Foods Announces Launch of IPO

Cincinnati / OH. (apf) AdvancePierre Foods Foods Holdings Inc., a leading U.S. producer and distributor of sandwiches, sandwich components and other entrées and snacks, announced the commencement of the initial public offering of shares of its common stock. In the offering, AdvancePierre is selling 11’090’000 shares of common stock and the selling stockholders are selling 7’510’000 shares of common stock. The initial public offering price is expected to be between 20.00 USD and 23.00 USD per share. The selling stockholders have granted the underwriters a 30-day option to purchase up to an additional 2’790’000 shares of common stock. AdvancePierre has applied to list its common stock on the New York Stock Exchange under the symbol «APFH.» AdvancePierre intends to use the net proceeds from the offering to repay a portion of its first lien term loan. AdvancePierre will not receive any of the proceeds from the sale of shares of its common stock by the selling stockholders.

About AdvancePierre Foods

AdvancePierre Foods Holdings Inc., headquartered in Cincinnati, Ohio, is a leading national producer and distributor of value-added, convenient, ready-to-eat sandwiches, sandwich components and other entrées and snacks to a wide variety of distribution outlets including foodservice, retail and convenience store providers. With revenues of 1.6 billion USD in 2015 and more than 4’000 employees, the Company offers a broad line of products across all day parts including: ready-to-eat sandwiches, such as breakfast sandwiches, peanut butter and jelly sandwiches and hamburgers; sandwich components, such as fully cooked hamburger and chicken patties, and Philly steaks; and other entrées and snacks, such as country-fried steak, stuffed entrées, chicken tenders and cinnamon dough bites. A fund managed by Oaktree Capital Management L.P., a Los Angeles-based investment firm, is the majority shareholder of AdvancePierre Foods.