Fresh Co Foods, LLC
Company: Fresh Co Foods, LLC (“FCF” or “Company”)
Financing Amount: $5,100,000
Financing Structure: $5,100,000 Real Estate Term Loan
Financing Date: December 28, 2023
About the Company
Fresh Co. Foods is a chef owned and operated manufacturing business that produces high quality, ready to eat products for the convenient retail sector of the food industry. Fresh Co. is known for having best in class product quality and produces a wide range of hand-crafted items. Chef Joel Simpler and the management team collectively have worked over 4 decades in the food industry, and with a DNA that is rooted in restaurants and hotels, the fresh products produced at Fresh Co. mirror that approach to taste and variety.
Fresh Co. Foods was started originally as a catering company that focused on business to business corporate catering. That niche allowed Joel to develop relationships that led to early opportunities in packaged food. As an entrepreneur, the packaged food industry in 2010 was very underdeveloped, and Joel saw an opportunity in producing quality products that resembled what chefs and restaurants would produce for customers, simply placed in a package.
Convenient retail has broadened into very distinct and consistent channels, and includes colleges and universities, airports, medical centers, convenience stores, office micro markets and more. Learning and understanding the core customer of each channel have been key and developing products that have appeal for each channel is necessary for customer satisfaction and retention.
Situation
With the introduction of some outstanding contract with a few key major retailers, Fresh Co Foods needed a facility that would help reduce their overall monthly debt payments while also allowing them room to grow as they fulfilled on the contract. FCF needed a facility that could provide the capital necessary to pay off the numerous outstanding lenders while also giving them the flexibility to expand as necessary.
Solution
Alantes worked with leading real estate investors to secure a $5,100,000 Real Estate Term Loan which not only refinanced all of the current high-cost debt on the books, it also helped to provide some additional working capital for the business. “With all of the upcoming contracts with major retailers, it was imperative for us to secure a facility that would allow us to fulfill those contracts and leave us with room to grow.” says Joel Simpler “At a time of unprecedentedly high lending costs, the team at Alantes was able to secure a lower cost option with the refinance which really proved their expertise in the sector. I’m looking forward to the growth of our company with this new facility and have Alantes to thank for the opportunity.”
About Alantes
Alantes Corporate Finance (“Alantes”) specializes in capital raises and strategic advisory for small to middle market businesses across the nation. Our team prides itself on our ability to provide unique solutions for all of your business needs. Whether you’re looking to acquire a new company or additional working capital for operations, Alantes is your trusted source for business growth and expansion. Our multi-faceted approach allows us to craft creative solutions that adds value at the most critical junctures so you can focus your resources on core business activities.
For more information on this transaction, contact Alantes Corporate Finance at info@alantes.com
Alantes Corporate Finance, LLC
234 5th Avenue, 2nd Fl
New York, NY 10001
www.alantes.com
