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June 02, 2015 11:39 PM ET

Company Overview of Blue Acquisition Group, Inc.

Company Overview

As of March 23, 2015, Blue Acquisition Group, Inc. operates as a subsidiary of The J. M. Smucker Company.

9 West 57th Street

Suite 4200

New York, NY 10019

United States

Founded in 2010

Phone:

212-750-8300

Key Executives for Blue Acquisition Group, Inc.

President and Chief Executive Officer
Compensation as of Fiscal Year 2014.

Blue Acquisition Group, Inc. Key Developments

Blue Acquisition Group, Inc. Reports Consolidated Earnings Results for the Year Ended 2014

Blue Acquisition Group, Inc. reported consolidated earnings results for the year ended 2014. For the period, the company reported net sales of $2,190.1 million compared with $1,989.0 million for the same period last year. Operating income was $254.8 million compared with $233.0 million for the same period last year. Loss from continuing operations before income taxes was $4.7 million compared with $14.3 million for the same period last year. Loss from continuing operations was $7.8 million compared with $6.0 million for the same period last year. Net loss was $130.2 million compared with net income $6.0 million for the same period last year. Net cash used in operating activities was $409.1 compared with net cash provided by used in operating activities $306.3 million for the same period last year. Capital expenditures were $79.6 million compared with $108.0 million for the same period last year.

Blue Acquisition Group, Inc., Big Heart Pet Brands and Natural Balance Pet Foods, Inc. Enter into a Senior Secured Asset-Based Revolving Credit Agreement

On March 6, 2014, Blue Acquisition Group, Inc., Big Heart Pet Brands and Natural Balance Pet Foods, Inc. entered into a new senior secured asset-based revolving credit agreement with the lenders from time to time parties thereto and JPMorgan Chase Bank, N.A., as administrative agent, that provides for a $225.0 million senior secured asset-based revolving facility with a five-year term. Availability under the ABL Facility is subject to a borrowing base. The borrowing base at any time will be equal to 85% of eligible accounts receivable and 85% of the net orderly liquidation value percentage of eligible inventory of the borrowers under the facility at such time, less customary reserves. The ABL Facility includes a sub-limit for letters of credit and for borrowings on same-day notice, referred to as swingline loans. The company is the lead borrower under the ABL Facility, NBPF is also a borrower and other domestic subsidiaries of the Company may be designated as borrowers on a joint and several basis. The loans under the ABL Facility bear interest at a rate equal to an applicable margin, plus, at the borrower’s option either a LIBOR rate for the applicable interest period or a base rate equal to the federal funds rate plus 0.50%, JPMorgan Chase Bank, N.A.’s 'prime rate' and the one month LIBOR rate plus 1.00%. The applicable margin with respect to LIBOR borrowings will, until the date that is 3 months after the closing date, be 1.50% and with respect to base rate borrowings will, until the date that is 3 months after the closing date, be 0.50%.

Del Monte Corporation, Blue Acquisition Group, Inc. and Blue Holdings GP, LLC Announces Board Changes

On August 8, 2013, Neil Harrison resigned as a member of the Board of Directors of Del Monte Corporation and the Audit Committee of the Board of Directors of the company, as well as a member of the board of directors of Blue Acquisition Group, Inc. and as a member of the board of managers of Blue Holdings GP, LLC, which acts as the general partner of Blue Holdings I, L.P.

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Date
Target
Merger/Acquisition
February 3, 2015
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