Shearer's Foods plans to sell $210 million seven-year secured notes

By Paul A. Harris

Portland, Ore., Oct. 16 - Shearer's Foods Inc. plans to price a $210 million offering of seven-year senior secured notes (B3/expected B) before the end of the Oct. 15 week, according to market sources.

BMO Securities, Barclays and KeyBanc Capital Markets are the joint bookrunners.

The notes come with three years of call protection.

Proceeds will be used to fund the acquisition of Shearer's Foods by Wind Point Partners and the Ontario Teachers' Pension Plan from Mistral Equity Partners.

Shearer's Foods is a Brewster, Ohio-based producer and distributor of contract pack and private label seasoned snack foods.

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