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Bank of America Business Capital Provides $26.5MM ABL to A.L. Schutzman Company

September 26, 2013, 08:04 AM

Bank of America Business Capital announced it has provided a new $26.5 million credit facility to the A.L. Schutzman Company, Inc. Proceeds will be used to support working capital. 

“We’re very pleased to enter into this relationship with Bank of America Business Capital”, said Joel Knudson, chief financial officer of A.L. Schutzman. “This is an important step in the evolution of our business, allowing us to structure a loan focused around our growth and development needs in addition to helping manage our business more efficiently as we serve our customers.”

“Our new relationship with A.L. Schutzman is a great example of the ability of Bank of America Merrill Lynch to provide seamless and efficient credit and liquidity management solutions to our customers,” said Jeff McLane, president of Bank of America Business Capital. “We look forward to helping A.L. Schutzman grow and prosper in the coming years.”

Founded in 1921, A.L. Schutzman is based in Waukesha, Wisconsin, and is known in the industry for its superior quality and product innovation. The company and its divisions – Ashdon Farms, Mallory’s Finest and Devon’s Chocolates – produce a wide variety of nuts, trail mixes, dried fruit blends and chocolates.

Bank of America Business Capital is one of the world’s largest asset-based lenders, with more than ten primary offices serving the United States, Canada and Europe. It provides corporate borrowers with senior secured loans of $10 million or more, cash management, interest rate and foreign exchange risk management, and a broad array of capital markets products.

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