US frozen fruits supplier Imperial Frozen Foods gets capital facility of $14m
US-based supplier of organic frozen fruits Imperial Frozen Foods has secured a capital facility of $14m.
The capital facility has been secured through Business Capital.
The North Carolina-based food company supplies branded and private label frozen fruit products to more than 50 retail grocers across 10,000 locations and annually ships more than 30 million pounds of products.
Business Capital managing director Chuck Doyle said: “We are thrilled to play a role in assuring the strategic growth of Imperial Frozen Foods.
“Our team and process moved efficiently to successfully close this financing transaction and position the company for continued growth as a leader in the frozen food products sector.”
As part of its growth strategy, Imperial will acquire a complementary frozen vegetable company, which will enable immediate vertical product integration, market expansion, and operational synergies in packing and distribution.
Imperial’s private equity sponsor Kenex Holdings brought in Business Capital to help securing a capital facility, which was essential to make the acquisition.
Business Capital is a commercial finance and debt restructuring firm that specialises in securing debt based solutions for small and middle market companies in the US.