BKON, a leading national cold brew coffee manufacturer, has partnered with Republic Business Credit to continue its dynamic growth. Republic Business Credit provided BKON with a $2 million Asset-Based Loan (ABL). The facility will provide BKON with capital to build its inventory to meet increasing demand from national retailers and grocery stores, enabling the company to fulfill upcoming purchase orders, open new accounts and solidify its position as one of the fastest growing brands in the cold coffee concentrate market.
BKON has established itself as a pioneer in the cold coffee industry, known for its patented process that delivers superior flavor extraction. BKON is poised for significant growth and needed a lending partner that could support its scaling initiatives while ensuring timely fulfillment.
"We've been building a revolutionary approach to cold coffee, and the interest from national retail partnerships has been tremendous, " said Dean Vastardis, Chief Executive Officer of BKON. "Our partnership with Republic is an incredible opportunity to bring our innovative products to a wider audience and seize this momentum."
Republic structured the ABL to address BKON's specific needs, focusing on flexible concentration limits to accommodate the company's rapid sales ramp-up. With Republic's support, BKON is now strategically positioned to execute its ambitious growth plan throughout 2025 and 2026, ensuring that quality-conscious brands can innovate and scale their cold coffee business with a reliable co-creator.
"Our team understood BKON's unique working capital requirements and crafted a flexible asset-based lending solution specific to BKON’s needs," stated William Kemp, Senior Vice President, Regional Manager at Republic. "This agreement underscores our commitment to supporting innovative and evolving companies in the consumer packaged goods industry."
The transaction was referred to Republic by Oval Ventures, an investment bank focused on supporting the consumer packaged goods industry.
"Our mission at Oval Ventures is to connect entrepreneurs with the right capital partners to achieve their ambitions," said Joseph Grodko, Founder and Chief Executive Officer of Oval Ventures. “We are delighted to have facilitated this connection, which combined BKON’s innovation with Republic’s knowledge to create a flexible solution that will undoubtedly propel future success."
Robert Meyers, President of Republic Business Credit, added, "We thrive on partnering with companies that drive innovation and create value. This partnership embodies that goal, and we look forward to many years of collaboration.”