Certified Origins lands $60M revolver for North American push
What's the deal? Certified OriginsDealroom has a profile for this one. Try Dealroom →, a Tuscany-based food company, has secured a $60 million asset-based revolving credit facility from CIT Northbridge. CIT Northbridge served as sole lender, while Arch & BeamDealroom has a profile for this one. Try Dealroom → advised Certified Origins.
What does the company do? Certified Origins specialises in private-label and co-packing food products, including extra virgin olive oil, tomato sauce, tree nuts, and nut butters. It works with growers across the Mediterranean and serves retail and industrial customers in North America and other international markets.
What's the money for? The facility provides added liquidity as the company integrates its businesses and invests in its North American operations. It runs US production facilities in Newport News, Virginia, and Fresno, California.
Why CIT Northbridge? The lender provides asset-based revolving and term loan commitments ranging from $15 million to $150 million to middle-market companies.
"CIT Northbridge's understanding of our business and ability to deliver a tailored financing solution made them an ideal banking partner as we continue integrating our businesses and investing in the growth of our company in North America," said Rod Hogan, chief financial officer of Certified Origins.
The signal: At $60 million, the facility ranks in the top 10% of US food-sector debt rounds on record. For a mid-market food producer, that scale of asset-based financing points to steady appetite for well-collateralised deals in a sector built on predictable inventory and physical assets.
Read more: pulse2.com
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