Birds Eye Foods, the business behind the eponymous frozen food business in the US, is planning a share issue worth US$350m to pay off debt.
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The Delaware-based group, in which private equity group Vestar Capital Partners owns a 55% stake, announced the plans to go public late last week.
In figures released with the filing, Birds Eye Foods said net sales grew 7.8% to US$936m in fiscal year 2009, which ended 27 June. Consolidated adjusted EBITDA jumped 7.2% to $150m.
Birds Eye Foods owns the Birds Eye and Steamfresh trademarks in the US, with other manufacturers holding the trademarks elsewhere.
In the UK, Birds Eye is owned by private equity firm Permira.
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