Hearthside Finalizes Financial Restructuring and Launches Revamped Maker’s Pride Brand Identity
H-Food Holdings LLC, a renowned name in food contract manufacturing, has announced its emergence from Chapter 11 financial restructuring under a new name—Maker’s Pride LLC. This marks a significant turning point for the company, which is now ready to enter its next chapter with a solid financial foundation and revitalized operations. The restructuring, culminating in the approval of the company’s Plan of Reorganization on March 11, 2025, allows Maker’s Pride to move forward with a healthy balance sheet, a strong capital base, and a redefined brand identity that signals the company’s commitment to craftsmanship, quality, and future growth.
A Fresh Start: Maker’s Pride Emerges Stronger
For Maker’s Pride, the transition from Hearthside to its new brand identity represents much more than just a change of name. It symbolizes the company’s renewed commitment to providing high-quality food manufacturing services while embracing the values of innovation, customer collaboration, and operational excellence. With a new corporate outlook, Maker’s Pride is poised to continue to lead in the food contract manufacturing industry, serving a wide range of customers with the dedication and pride that defines the company’s ethos.
Darlene Nicosia, the newly appointed Chief Executive Officer of Maker’s Pride, stated, “The swift completion of our financial restructuring process marks a pivotal moment for our company and is a testament to the dedication of our valued team members and the committed support of our customers and financial partners.” This statement reflects the collective effort and resolve of the company’s workforce, customers, and stakeholders in overcoming financial challenges, ultimately enabling Maker’s Pride to enter a new era of growth.
The company’s new name, Maker’s Pride, emphasizes the craftsmanship and authenticity that define the brand’s products. “We are thrilled to memorialize this milestone with a new future-facing brand name and identity, Maker’s Pride, that conveys craftsmanship and authenticity, reflecting the personal Brand pride we have in our products and our unwavering commitment to quality and safety,” Nicosia remarked. The rebranding also signifies the company’s unwavering focus on meeting the evolving needs of the food manufacturing sector Brand while staying true to its legacy of excellence.
Financial Restructuring and Debt Elimination
One of the core achievements of this restructuring is the reduction of Maker’s Pride’s outstanding debt. The company was able to eliminate approximately $2 billion of funded debt, substantially reducing its interest expenses and improving its overall financial stability. This restructuring Brand effort not only alleviates the company’s financial burden but also positions it for sustained growth in the years to come.
In addition to reducing debt, Maker’s Pride has emerged with approximately $600 million in liquidity. This liquidity boost comes from two primary sources: $200 million raised through an Equity Rights Offering, which enables existing stakeholders to invest further in the company’s future, and an additional $190 million from a new asset-backed loan facility. These measures provide Maker’s Pride with the capital it needs to invest in innovation, expand its operations, and meet the growing demand for its products in the marketplace.
The company’s restructured financial position allows it to confidently move forward as a well-capitalized entity, ready to tackle future challenges while continuing to meet the needs of its customers. Maker’s Pride now operates under the majority ownership of a group of its existing lenders, which include major financial players such as Apollo and Oaktree Capital Management, L.P. This new ownership structure offers the company both stability and flexibility as it pursues new opportunities in the food manufacturing industry.
A Strong Foundation for Growth
The completion of the financial restructuring has set the stage for Brand Maker’s Pride to embark on a journey of growth and innovation. As a leader in the contract manufacturing industry, the company is known for its high-quality production of baked goods, refrigerated and frozen foods, snacks, and nutrition bars. With 27 production facilities across North America and a talented workforce, Maker’s Pride is a formidable player in the convenience food sector.
Brian Driscoll, Chairman of the Board for Maker’s Pride, expressed his confidence in the company’s future, stating, “Maker’s Pride is entering an exciting new chapter of innovation and growth. With a strong foundation, passionate customers, and a talented team, Maker’s Pride has a promising future ahead. I look forward to working with Darlene and the rest of the leadership team to expand and enhance the company’s impact in the food manufacturing industry.”
This sentiment reflects the excitement surrounding the company’s potential. With its restructured financial position, enhanced operational capabilities, and a renewed focus on customer engagement, Brand Maker’s Pride is well-positioned to capitalize on market trends and continue its legacy of excellence in the food manufacturing industry.
The Road Ahead: Focus on Innovation and Customer Engagement
Looking ahead, Maker’s Pride is dedicated to delivering top-tier products and services to its customers while exploring new avenues for growth and innovation. The company’s leadership is committed to staying at the forefront of industry trends, leveraging cutting-edge technologies, and continually improving its operational efficiencies.
As part of its renewed focus on innovation, Maker’s Pride is committed to expanding its product offerings to meet the changing tastes and preferences of consumers. This includes exploring new product Brand categories and enhancing its existing product lines to cater to evolving market demands. The company is also committed to driving sustainability initiatives throughout its production processes, ensuring that its products meet the highest standards of quality and safety while minimizing environmental impact.
Customer engagement will also remain a central priority for Maker’s Pride. The company plans to enhance its relationships with both existing and new customers, ensuring that their needs are met with the same level of excellence and reliability that the company has built its reputation on. By deepening its customer relationships, Maker’s Pride aims to foster long-term partnerships and ensure continued success in the marketplace.
Advisors and Strategic Partnerships
The financial restructuring process has been supported by a team of advisors who have played a crucial role in guiding Maker’s Pride through this complex transition. Legal advisors Ropes & Gray LLP and Porter Hedges LLP, investment banker Evercore Group L.L.C., financial advisor Alvarez & Marsal, and strategic communications advisor C Street Advisory Group have all provided valuable expertise during this process. Additionally, the company’s lender group, which includes major financial institutions such as Apollo and Oaktree Capital Management, L.P., has been instrumental in the successful completion of the restructuring.
This collective support from legal, financial, and strategic advisors has ensured a smooth and efficient restructuring process, allowing Maker’s Pride to focus on executing its future growth strategy with confidence and clarity.
About Maker’s Pride
Maker’s Pride, formerly Hearthside, is a leading contract manufacturer specializing in the production of convenience foods. The company offers a diverse range of products, including baked goods, snacks, nutrition bars, and frozen and refrigerated foods. With 27 manufacturing facilities spread across the United States and a dedicated team of employees, Maker’s Pride is one of the largest and most recognized names in the food contract manufacturing sector.
Maker’s Pride serves a broad spectrum of customers, including some of the world’s leading food brands. The company’s state-of-the-art facilities and commitment to quality and safety have earned it a reputation for excellence in the industry. As the largest private bakery in North America, Maker’s Pride continues to lead in innovation, product development, and customer satisfaction.
Headquartered in Downers Grove, Illinois, Maker’s Pride is committed to maintaining the highest standards of production while focusing on sustainability, customer engagement, and operational efficiency. For more information about Maker’s Pride and its products
