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Citizens Bank Provides $20MM Credit Facility to Riesbeck’s Food Markets

October 25, 2016, 07:48 AM
Filed Under: Retail

Citizens Bank announced that Citizens Commercial Banking is providing a $20 million revolving credit facility to Riesbeck’s Food Markets. Citizens is the sole lender.
Founded in 1925, Riesbeck’s Food Markets owns and operates 14 grocery stores in Ohio and West Virginia. A longtime Citizens client, Riesbeck’s will use the funds for working capital and letters of credit.
“We have enjoyed a long partnership with the team at Citizens,” said Richard Riesbeck, Chief Executive Officer of Riesbeck’s Food Markets. “They bring great ideas to the table and execute transactions quickly and seamlessly.”

“Riesbeck’s is a great client for Citizens and we’re very happy to help them achieve their strategic and financial goals,” said Chris Carmosino, President of Business Capital at Citizens Bank. “Providing working capital and letters of credit are just some of the ways that Citizens delivers value for clients at every stage of their business life cycle.”

The Citizens Commercial Banking team leads by putting clients first and offering the solutions that help them make the best decisions throughout the life cycle of their business. Combining the personal attention of a smaller bank with the sophisticated capabilities of a major financial institution, Citizens aims to be a go-to strategic and financial partner by offering unrivaled industry expertise, great ideas and seamless deal execution.

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