Davis Polk advised the administrative agent and the lead arranger in connection with a $1.5 billion term facility and an amendment to The J.M. Smucker Company’s $1.75 billion revolving credit facility. The proceeds of the term loan facility were used to finance The J.M. Smucker Company’s acquisition of Ainsworth Pet Nutrition Parent, LLC.

The J.M. Smucker Company, headquartered in Orrville, Ohio, has a family of brands that includes a wide variety of quality products in the consumer and natural foods, coffee and pet food and pet snacks segments, including Smucker’s, Pillsbury, Crisco, Folgers, Milk Bone and Meow Mix.

Ainsworth Pet Nutrition, headquartered in Meadville, Pennsylvania, manufactures and markets pet foods throughout the United States. Ainsworth’s brands include Rachael Ray Nutrish, Dad’s and Better Than.

The Davis Polk finance team included partner Jeong M. Lee and associates Scott G. Johnsson and Zachary Levine. The Davis Polk capital markets team included partner Sophia Hudson and associates Ferrell Maguire Keel and Evan Leitner. All members of the Davis Polk team are based in the New York Office.

Copy link to share post