“The swift completion of our financial restructuring process marks a pivotal moment for our company and is a testament to the dedication of our valued team members and committed support of our customers and financial partners,” says Maker’s Pride CEO Darlene Nicosia. “With a healthy balance sheet and additional capital to achieve our goals, we are well-equipped to continue serving our customers with excellence. We are thrilled to memorialize this milestone with a new future-facing brand name and identity, Maker’s Pride, that conveys craftsmanship and authenticity, reflecting the personal pride we have in our products and our unwavering commitment to quality and safety.”

Through its financial restructuring, the company eliminated approximately $2 billion of funded debt, reducing interest expense and positioning the business for growth. In addition, Maker’s Pride is emerging with approximately $600 million of liquidity, including $200 million of new money through an Equity Rights Offering and approximately $190 million of additional capital from a new asset backed loan facility. Maker’s Pride moves forward under the majority ownership of a group of its existing lenders, including funds managed by Apollo and Oaktree Capital Management, L.P.

“Maker’s Pride is entering an exciting new chapter of innovation and growth,” says Brian Driscoll, chairman of the board. “With a strong foundation, passionate customers and a talented team, Maker’s Pride has a promising future ahead, and I look forward to working with Darlene and the rest of the leadership team to expand and enhance the Company’s impact in the food manufacturing industry.”

Headquartered in Downers Grove, Illinois, Maker’s Pride’s production network includes 27 facilities.