The company formerly known as Hearthside Food Solutions has rebranded as Maker’s Pride as it exits Chapter 11 bankruptcy in the U.S. Bankruptcy Court for the Southern District of Texas.
The company said it’s moving forward with a significantly stronger capital structure through the elimination of $2 billion of debt and new capital in the form of $600 million in liquid assets. That includes $200 million of new money through an Equity Rights Offering and around $190 million from a new asset-backed loan facility.
In a statement, CEO Darlene Nicosia said the new Maker’s Pride name “conveys craftsmanship and authenticity, reflecting the personal pride we have in our products and our unwavering commitment to quality and safety.”
Maker’s Pride has 27 facilities throughout the country.
