AdvancePierre Foods Holdings Inc., a national food producer and distributor, filed to go public Monday. The company set a placeholder offering amount of $100 million. AdvancePierre Foods reported sales of $1.61 billion in 2015 and $1.58 billion in 2014 and swung to a profit of $37.1 million in 2015 after a loss of $37.9 million in 2014. The company is backed by investment firm Oaktree Capital Group LLC and said the firm would continue to “exert significant influence” on the company after the IPO. The offering is being underwritten by Barclays, Credit Suisse and Morgan Stanley.
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