DOWNERS GROVE, ILL. — H-Food Holdings LLC, the parent company of contract manufacturer Hearthside Food Solutions, has completed its financial restructuring and emerged from Chapter 11 as Maker’s Pride LLC. H-Food filed for Chapter 11 bankruptcy protection in November 2024 and less than a month ago had its “plan of reorganization” approved.

Citing “a stronger financial foundation and streamlined operations,” Maker’s Pride said it is well-positioned for its next phase of growth, innovation, and leadership in the food manufacturing industry.

“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 committed support of our customers and financial partners,” said Darlene Nicosia, chief executive officer of Maker’s Pride. “With a healthy balance sheet and additional capital to achieve our goals, we are well-equipped to continue serving our customers with excellence. 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 pride we have in our products and our unwavering commitment to quality and safety.”

Maker’s Pride said it eliminated approximately $2 billion of funded debt, which substantially reduced interest expense and positioned the company for significant long-term growth. In addition, Maker’s Pride is emerging with approximately $600 million of liquidity, including $200 million of new money through an Equity Rights Offering and approximately $190 million of additional capital from a new asset backed loan facility, the company said.

Maker’s Pride said it is now set to move forward as “a well-capitalized company” under the majority ownership of a group of its existing lenders, including funds managed by Apollo and Oaktree Capital Management, LP.

“Maker’s Pride is entering an exciting new chapter of innovation and growth,” said Brian Driscoll, chairman of the board. “With a strong foundation, passionate customers, and a talented team, Maker’s Pride has a promising future ahead, and 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.”

The past two years have been challenging ones for H-Foods. In addition to the bankruptcy filing the company in mid-March said it plans to close its facility in Anaheim, Calif., on April 27. In February 2023 Hearthside was featured in a The New York Times article alleging the company and many other employers were employing underage migrant children at their plants.