Oaktree Io Invest $225M in Diamond Foods

Diamond Foods said on Wednesday that Oaktree Capital Management will invest $225 million in the company to recapitalize its balance sheet.

NEW YORK - Diamond Foods Inc said on Wednesday that Oaktree Capital Management will invest $225 million in the company to recapitalize its balance sheet.

The seller of Emerald nuts and Pop Secret popcorn said the investment will allow it to amend its credit agreement with existing lenders and execute its business plan, as well as pay down debt.

The transaction is expected to close by the end of May.

(Reporting By Martinne Geller in New York; Editing by Gerald E. McCormick)