CTI Foods, Meridian, Idaho, completed its financial restructuring and emerged from Chapter 11.
“Today marks the beginning of the next chapter for CTI Foods as an even stronger company,” says Mike Buccheri, president and CEO. “Through this process and with the support of our new sponsors, we have improved our capital structure and significantly reduced our debt. CTI Foods is now well positioned to build on our core business through increased investments in innovation, product development and food safety. As always, we will continue to focus on CTI’s core mission of delivering exceptional custom foods and culinary solutions to drive our customers’ growth goals.”
“I also want to especially thank our customers, vendors and business partners for their support throughout this process,” adds Buccheri. “Our success is a testament to their belief in us, our ongoing collaboration and partnership and the hard work of all our CTI employees. I am excited for CTI Foods’ future, and honored to lead this team in the execution of our strategy for long-term growth and value creation for our vendor and customer partners.”
CTI Foods is a custom foodservice manufacturer supplying U.S. restaurant chains and branded food companies.