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Avidbank Provides Credit Facilities to Red Monkey Foods

February 13, 2017, 07:00 AM
Filed Under: Food Services

Avidbank Specialty Finance, a Division of Avidbank that specializes in technology and asset-based lending, has provided financing to support the acquisition of Red Monkey Foods by private equity firm, San Francisco Equity Partners. The facilities include a $4 million line of credit and an acquisition term loan.

Based in Springfield, Missouri, Red Monkey Foods is a leading provider of organic spices, seasonings and other natural dry food products.

"Red Monkey Foods has grown tremendously in recent years and is at the intersection of two of the fastest growing trends in the food industry: the rise of gourmet store brand programs and the continued penetration of organic offerings in numerous product categories," said Scott Potter, Managing Partner at San Francisco Equity Partners. "We look forward to partnering with management to support them in capturing the growth opportunities in front of the company, and to further building our relationship with Avidbank.”

“We are pleased to participate in San Francisco Equity Partners’ acquisition of Red Monkey Foods,” stated Todd Jones, Relationship Manager, Avidbank Specialty Finance. “We are gratified to assist both Red Monkey and San Francisco Equity Partners with this mutually beneficial opportunity for growth.”

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