Dakota Growers Pasta Company has purchased over 3.9m shares tendered to the company for US$10 each.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
In order to fund the share buyback, the group has successfully completed the sale of 1m shares of series F convertible stock to MVC Capital and 1m common shares to LaBella Holdings. The group also received $20m in loan proceeds from CoBank, generating net proceeds of $38m.
Dakota Growers Pasta is the third-largest manufacturer and marketer of dry pasta products in North America. The group produces Dreamfields and Healthy Carb Living Pasta brands.
