Bob Evans Farms Completes the Acquisition of Pineland Farms Potato Company

Bob Evans Farms has completed its previously announced sale of Bob Evans Restaurants to Golden Gate Capital for USD565m and the completion of its acquisition of Pineland Farms Potato Company, for the sum of USD115m.

The company considers that the two transactions mark the beginning of a new era at Bob Evans Farms, in which the company will focus exclusively on realizing the full potential of its BEF Foods business.

Bob Evans Farms also announced Bank of America Merrill Lynch, JPMorgan Chase Bank and PNC Bank served as joint lead arrangers and joint bookrunners for the establishment of the company’s new USD300m credit facility. Additionally, Bank of America served as administrative agent for the facility, which has a maturity date of April 28, 2022.

BEF Foods is the national market share leader in refrigerated dinner side dishes, and is also the market share leader in sausage products in its core Midwest markets.