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Article: Hot Stuff Foods Completes Management Buyout; Leading Foodservice Franchisor Preparing for Dynamic Growth.
- Article from:
- Business Wire
- Article date:
- February 7, 2006
CopyrightCOPYRIGHT 2006 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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SIOUX FALLS, S.D. -- Hot Stuff Foods today announced a management buyout of the company enabling the company to continue its 20-year legacy in the branded foodservice industry. This recent transaction also supports the company's dynamic growth into key market channels, most notably the 138,000-location convenience store channel.
Under the new agreement, Allied Capital Corporation (NYSE:ALD) committed $164 million in the management-led recapitalization. Hot Stuff management re-invested a significant portion of its equity ownership in the transaction.
"We are pleased to partner with the management of Hot Stuff Foods in the recapitalization of their ...