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AloStar Agents $36MM Credit Facility for TruFood Mfg. Inc.

May 23, 2017, 07:31 AM

AloStar agented a $36 million credit facility for TruFood Mfg. Inc., a leading snack food manufacturer of well-recognized brands based in Pittsburgh, Pennsylvania.

TruFood, a family owned business, has provided high-quality snacks to the health-conscious, “on-the-go” consumer since 1985. With a large presence on the East coast, the company manufactures a full range of snack products including granola, baked bars, nutrition bars, layered protein bars and molded chocolate products.

“AloStar went above and beyond to understand our business during this process,” said Pete Tsudis, president and CEO of TruFood Mfg. Inc. “Their personalized approach mixed with their ability to be attentive and creative provided us with the best possible solution for successfully refinancing our business.”

Acting as the administrative and collateral agent, AloStar’s New York City Capital Finance team worked closely with TruFood to create a capital solution that addressed their current needs and future growth opportunities in the contract food manufacturing industry. In addition, this new agreement with AloStar further enhances TruFood’s liquidity and provides them with access to working capital.

“TruFood has a strong reputation for excellence, which is truly admirable in such a competitive industry,” said Andy McGhee, president and CEO of AloStar. “As a trusted advisor, we listened carefully to their needs to make sure they can continue to build on their legacy of success.”

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