AdvancePierre Foods Holdings (APFH.RC), an Oaktree Capital-backed food manufacturer and supplier, filed on Monday with the SEC to raise up to $100 million in an initial public offering. However, the deal size is likely a placeholder for an IPO that we estimate could raise $500 million.
The Blue Ash, OH-based company was founded in 1946 and booked $1.6 billion in sales for the 12 months ended December 31, 2015. It did not disclose a proposed exchange or a ticker symbol. Barclays, Credit Suisse and Morgan Stanley are the joint bookrunners on the deal. No pricing terms were disclosed.
