CINCINNATI — AdvancePierre Foods Holdings, a national producer and distributor of sandwiches, sandwich components and other entrees and snacks, has set the terms of its initial public offering. The Cincinnati-based company hopes to raise $400 million by offering 18.6 million shares of its stock at a price of between $20 and $23.
The company said it intends to use the net proceeds from the offering to repay a portion of its first lien term loan. AdvancePierre will not receive any of the proceeds from the sale of shares of its common stock by the selling stockholders.