SAN FRANCISCO – (BUSINESS WIRE) – July 21, 2021–
BizCapÂ® (Business Capital since 2002) has structured and secured multi-tranche credit facilities for one of the largest producers and processors of branded cheese in California. In business for over 75 years, the family business is one of the most respected and recognized brands sold to more than 80 retailers in the United States and Mexico, including Costco, Wal-Mart, Sprouts and Kroger. . In addition, it produces large blocks of bulk cheese mainly sold to the food service industry, whey protein (a by-product of milk used primarily in sports and nutritional drinks) and owns / operates a large manufacturing business. cultivation and production of almonds with nearly 3,400 acres planted. The financing included a global committed revolving credit facility for the dairy and almond operations, as well as a deferred drawing term loan and standby letter of credit facilities. This injection of working capital will allow the Company to develop both its cheese production and almond cultivation activities, to meet the very different seasonal demands for working capital required by the two operations and to finance future projects. CapEx which will increase production capacity and automation.
âWith all of the recent challenges facing the agriculture industry – from weather to resource depletion to politics – BizCap has been delighted to help another farmer, the backbone of this country, with a momentum forward, âsaid Chuck Doyle, President and CEO of Business. Capital city. Our client was delighted to replace their historic lender with a bank capable of understanding the complexity of financing multiple entities under one roof. The BizCap team has decades of experience and many successful agricultural transactions to our credit. It was therefore able to underwrite this client’s businesses quickly and clearly, which allowed better access to capital at a reduced rate with a more personalized intelligent structure.
BizCapÂ® is a leading trade finance and advisory firm with a proven track record in finding personalized, non-dilutive credit solutions for fast-growing or struggling mid-market businesses nationwide who need unique, timely and tailored financing structures to meet their particular needs, especially when conventional sources of capital are not an option. BizCap is a proud supporter of Team IMPACT, a national non-profit organization that connects children facing serious and chronic illnesses with local college sports teams, creating lasting connections and life-changing results.
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CONTACT: Company capital
KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA
INDUSTRY KEYWORD: AGRICULTURE PROFESSIONAL SERVICES NATURAL RESOURCES FINANCING
SOURCE: Company capital
Copyright Business Wire 2021.
PUB: 07/21/2021 7:00 a.m. / DISC: 07/21/2021 7:01 a.m.
Copyright Business Wire 2021.