Aurora Foods announces financial restructuring
Aug 1, 2003 12:00 PM
In a move aiming to reduce debt, improve liquidity, and strengthen its balance sheet, Aurora Foods, a producer and marketer of frozen foods based in St Louis MO, has agreed to an equity investment of $200 million in the company by J W Childs Associates, a private equity investment firm from Boston MA. The transaction will result in the purchase of 65.6% of Aurora's common stock by J W Childs. After corporate restructuring, existing stockholders will own about 49% of the reorganized company. Upon completion, the total series of transactions will have a value of roughly $925 million.
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