Atlantic Premium Brands Ltd. Secures $16.5 Million Loan Agreement
In addition to a broad range of products that are produced for its retail grocery store partners throughout the United States under their store brands, the Company also markets and distributes its own branded food products under premier brand.
08/08/07 Atlantic Premium Brands, Ltd., which, through its operations in Texas, Louisiana, and Oklahoma, is a leading producer and distributor of premium quality food products for customers in a fifteen-state region, announced that it has entered into a five year $16.5 million loan facility with MB Financial Bank, N.A.
In addition to a broad range of products that are produced for its retail grocery store partners throughout the United States under their store brands, the Company also markets and distributes its own branded food products under premier brand names which include: Blue Ribbon, Richard's, Cajun Favorites, J.C. Potter, Carlton and Texas Traditions.
With more than $8 billion in assets, MB Financial, Inc. is the Chicago-based holding company for its lead bank, MB Financial Bank N.A. MB Financial Bank, N.A. provides customer-driven financial solutions to middle-market businesses and offers a wide array of commercial banking products and services.
The credit facility will be used by Atlantic Premium Brands Ltd. and its wholly owned subsidiaries; Blue Ribbon LP, Richards Cajun Foods Corp., Carlton Foods Corp. and Potter Sausage Company to support their ongoing working capital requirements, capital expenditures, reduce higher priced debt and other corporate purposes. President and CEO Tom Dalton commented: "Securing this $16.5 million facility with MB Financial Bank N.A. will significantly reduce our cost of borrowed funds and will put Atlantic Premium Brands in a strong position to meet its future operating requirements. The fact that we were able to secure the facility with excellent terms speaks to the strength of our business model. We are very pleased to be partnered with an organization such as MB Financial who will be able to meet all of our operational and capital needs in the future."
