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Siena Lending Closes $12MM Revolver for New Age Beverages

October 10, 2018, 07:00 AM
Filed Under: Beverages

Siena Lending Group LLC announced the completion of a $12.0 million revolving credit facility for New Age Beverages Corporation (New Age). The facility was used to support the company’s inventory requirements and growth plans, and to refinance the existing senior debt.

Headquartered in Denver, New Age, a publicly traded company listed on the NASDAQ exchange, is a Colorado-based organic and natural beverage company intent on becoming the world’s leading healthy beverage company. New Age was created a little over two years ago and in that time has become the world’s 54th largest non-alcoholic beverage company, one of the largest healthy beverage companies, and the fastest growing company in the beverage industry. The company markets the brands Xing, Marley, Coco-Libre, Bú Live and others in all 50 states and in 15 countries internationally.

Stephen Fuscaldo, Director of Siena, said, “Siena is very pleased to provide a working capital facility for New Age that will provide the company more liquidity to fund the growth in their brand business. We are excited to be a partner with New Age to help them achieve their growth targets.”  

Brent Willis, CEO of New Age, said, “We are very pleased to be working with a world-class financial partner like Siena. Siena was able to act quickly and give us the financial flexibility we needed. The liquidity that Siena’s credit facility brings will help us achieve our growth targets as we continue to expand distribution and build our brand business throughout North America.”

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