DLA Piper advised Inventure Foods, Inc., a specialty food marketer and manufacturer, in its strategic sale of Fresh Frozen Foods to The Pictsweet Company for approximately US$23.7 million.

The transaction was part of a financial review process to increase shareholder value. Proceeds from the sale will help Inventure reduce debt and improve its balance sheet and overall financial flexibility.

The DLA Piper team representing Inventure was led by partner Greg Hall (Phoenix); Stefanie Fogel (Boston), co-chair of the firm’s Food and Beverage sector; partners Melissa Bengtson (Phoenix); Gina Durham and Margaret Keane (San Francisco); and associate Sarah Stanton (Phoenix).