Manna Tree has announced it is leading a $18mm Series D funding round for the disruptive platform Urban Remedy, the omni-channel, ultra-fresh provider chilled ready-to-eat meals, snacks, cold-pressed juices, and more. Through a proprietary ERP system, Urban Remedy cracked the code on profitable ultra fresh food (i.e. shelf life of one week, often less).
Dedeaux Properties and joint venture partner Brasa Capital Management have sold a fully-leased 73,992-square-foot Class A industrial distribution building in the Inland Empire city of Redlands, California, to LBA Realty, completing the disposition of a brand new two-building complex. The building includes 20,000 square feet of cold storage space with two coolers at 55 and 34 degrees, and is currently leased to In-N-Out Burger.
Atlast Food, the mycelium food company growing the future of plant-based meats, announced a $40M Series A round to develop and supply whole cut plant-based meat to partners around the globe, including directly to consumers through its own brand MyEats.
Gathered Foods, makers of Good Catch plant-based seafood, announced the company has secured $26.35 million in a B-2 bridge funding round with investments from Louis Dreyfus Company (LDC), Unovis Asset Management, Big Idea Ventures, and others. This strategic funding will allow Gathered Foods to further propel Good Catch plant-based seafood to the forefront of the industry, as well as raise awareness for the trajectory of the plant-based industry's market growth and popularity.
Sysco announced it has reduced its outstanding debt by a total of $1.1 billion. The company repaid the remaining $700 million in outstanding borrowings under its long-term revolving credit facility that expires on June 28, 2024. In addition, Sysco’s United Kingdom-based subsidiary, Brake Bros Limited, repaid £300 million of its £600 million in aggregate principal amount of notes outstanding under its commercial paper program, equating to approximately $417 million in debt reduction.
BHI, a full-service commercial bank, announced that its Food & Beverage Group has arranged a total of $61.6 million in two new financing transactions for clients Teasdale Latin Foods and Resnick Distributors.
Tovala, the first-ever meal service paired with a countertop smart oven that scans, steams, bakes, and broils its chef-crafted meals, announces the close of a $30M Series C funding round led by Left Lane Capital, with participation from previous investors Finistere Ventures, Comcast Ventures, OurCrowd, Origin Ventures, Pritzker Group Venture Capital, and Joe Mansueto.
Cappello's, the makers of frozen-fresh, simple, real-ingredient foods, announced the closing of a significant funding round led by Alliance Consumer Growth ("ACG"), a prominent consumer- and retail-focused growth equity firm that has made significant contributions to the food and beverage world with investments in popular brands such as KRAVE Jerky, BarkTHINS, EVOL Foods, Blaze Pizza and Shake Shack.
New F&B Group originated $100 million in credit facilities in 2019.
January 22, 2020
BHI, a full-service commercial bank, announced that its Food & Beverage Group has arranged a $16.5 million credit facility for White Toque, a leading importer and distributor of European specialty fine foods. With this financing, BHI’s new F&B Group, which launched last year, originated over $100 million in credit facilities across various F&B categories in 2019.