Speculation returns over future of AdvancePierre Foods

Speculation returns over future of AdvancePierre Foods

The future of US convenience food group AdvancePierre Foods is the subject of fresh speculation, with claims private-equity owner Oaktree Capital Group is in talks with banks to float the business.

Bloomberg, citing unnamed sources, said Oaktree Capital Group was in discussions over a possible listing in the first quarter of next year.

Oaktree Capital Group did not return a request for comment from just-food. Officials at AdvancePierre Foods could not be reached for comment at the time of publication.

In February, Reuters reported Oaktree Capital Group was meeting with banks to try to sell AdvancePierre Foods.

Oaktree Capital Group created the business in 2010 through the merger of Pierre Foods, Advance Food Company and Advance Brands.

A week after the report, AdvancePierre Foods announced the acquisition of frozen sandwich maker Better Bakery.

In January, AdvancePierre Foods made a move for the manufacturing operations of family-owned US sandwich firm Landshire.