by Gwen Moritz
Posted 3/3/2014 04:07 pm
Updated 9 months ago
The bankruptcy court-approved sale of Allens Inc.'s operations and assets to Sager Creek Acquisition Corp. was completed on Friday, and Chris Kiser was appointed CEO of what will remain an independent company headquartered in Siloam Springs.
Kiser is an experienced food and consumer goods industry executive, according to a press release issued by Allens Inc. His experience includes time with Campbell Soup Co., Diageo and Pinnacle Foods, where he was chief customer officer. Most recently he was president of AdvancePierre Foods.
Kiser has a B.S. in business administration from Truman State University in Kirksville, Mo., and is a graduate of the food industry management program at Cornell University.
“This is a very exciting day for all of us at the new Allens," Kiser said in the press release. "I am honored to be joining the Allens team, and look forward to working hand in hand with our valued associates, customers and suppliers to create a bright future for this great American food company.”
Sager Creek, a newly formed entity owned by investment funds managed or advised by Sankaty Advisors LLC and GB Credit Partners LLC, won the right to buy Allens at an auction last month with a bid valued at $160 million.