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ST. LOUIS, Jan. 6, 2006 – Shaver Foods of Fayetteville, Arkansas, a distributor of food products to correctional institutions, schools, and restaurants, announced today the successful closing of a recapitalization. Eagle Fund I, L.P., a licensed Small Business Investment Company managed by Bush O'Donnell Capital Partners of St. Louis, Missouri supplied mezzanine debt and Wells Fargo provided the senior debt. Financial terms of the transaction were not disclosed.
"We are thrilled to partner with Bush O'Donnell and Wells Fargo, and are looking forward to working together to continue the strong growth of the business," said Ashley White, President and CEO of Shaver Foods.
Shaver Foods is an independent distributor of food products to correctional institutions, schools, and restaurants. Shaver Foods has been distributing food products for 50 years.
"Shaver Foods has positioned itself as a market leader in food distribution to correctional and educational facilities," said Wayne L. Smith, II, President of Bush O'Donnell Capital Partners. "We are excited to partner with Ashley White who has a proven record of growing the business."
About Shaver Foods
Located in Fayetteville, Arkansas, Shaver Foods is a distributor of food products to correctional institutions, schools, and restaurants. Shaver Foods has been distributing food products for 50 years. For additional information, visit their website at www.shaverfoods.com.
About Bush O’Donnell
Bush O'Donnell is a holding company headquartered in St. Louis with interests in investment management, insurance, manufacturing and private equity investments. Since 1988 its principals have been investing in a wide range of publicly and privately owned businesses. One of Bush O’Donnell’s wholly owned subsidiaries, Bush O’Donnell Capital Partners, manages Eagle Fund I, L.P., a Small Business Investment Company with committed capital of $75 million. Eagle Fund invests from $1 million to $4 million in the mezzanine debt and equity securities of companies with compelling business plans.
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