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Allen & Overy advised Goldman Sachs on the $590 million incremental loan facilities to help finance the acquisition of Greencore US Holdings LLC by Hearthside Food Solutions LLC.

 

November 25, 2018

A&O advised Goldman Sachs Bank USA, as lead arranger, and Goldman Sachs Lending Partners LLC as administrative agent and collateral agent in respect of (i) an incremental term loan in an aggregate principal amount of $515,000,000, and (ii) incremental revolving loan commitments of an aggregate principal amount of $75,000,000 to finance Hearthside Food Solutions’ acquisition of Greencore US Holdings LLC and its subsidiary companies and for general corporate purposes.

Hearthside is a leading contract manufacturer in nutritional bars, snack bars, cookies and  crackers, among other snack foods. This acquisition adds frozen breakfast foods, refrigerated snack kits, salad kits, sandwiches and entrées to its capabilities, and marks a significant step in the growth and development of Hearthside. This transaction expands the Hearthside production network to 38 locations, 10,000 employees and $3 billion in revenue.

The Allen & Overy New York leveraged finance team was led by partner R​ajani Gupta with support from associates Jonathan Homer, Zachary Frimet and Erica Aghedo. The transaction closed on November 25, 2018.

For further information, please contact Kris Cole at kcole@prosek.com or +1 (310) 652-1411.​​​​​​​

 

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