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NewStar Business Credit Provides $5.75MM Facility to KRAVE Pure Foods

June 18, 2014, 07:21 AM

NewStar Business Credit, a wholly-owned subsidiary of NewStar Financial, Inc., announced  that it has provided a revolving credit facility totaling $5.75 million to KRAVE Pure Foods, Inc. (“Krave”).  Headquartered in Sonoma, CA, Krave is an emerging snack food company that manufactures and markets a line of eight jerky products.  These include all-natural beef, pork, and turkey, produced without artificial flavoring or nitrites and are low in sodium.  Krave is a portfolio company of Alliance Consumer Growth (“ACG”), a private equity investment firm focused exclusively on high-growth consumer companies.  The revolving credit facility will be used by Krave to support their continued significant growth.

“We are very pleased to have NewStar as a key partner in our growth.  The team at NewStar understood the needs of our business and helped us structure the right product to support our rapid expansion.  We look forward to a strong long-term partnership.” David Lacy, CFO, Krave 

“We are pleased to have the opportunity to work with a young pioneering brand like Krave and help them continue their upward trend,” said Milton Iskra, National Marketing Manager.  Lisa Adams, an SVP located in the NewStar’s San Francisco office, originated the transaction.

NewStar Business Credit provides asset-based and senior, secured “stretch” loans nationally to middle market companies with credit requirements between $5 million and $25 million.  Deal structures are flexible and tailored to meet each client’s unique needs.  Funds can be used for a wide range of purposes, including strategic acquisitions, management buyouts, recapitalizations and refinancings, as well as, to support internal growth strategies.

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