CA-Based Food Products Company Hungry for Our Deal

The Company
This is a California-based company, founded in the 1960s, that provides research and development, formulation, and manufacturing of dry blended food products. It was acquired by an equity group in 1994.

The Situation
After having sales hard hit by COVID and supply chain disruptions, the Company started to aggressively grow sales and gross margins to turn the business around. Management approached Celtic Capital for working capital to fund that growth. With no bank or other lender to pay off, this was a very clean deal.

The Solution
Celtic Capital provided a $1,500,000 Accounts Receivable Line of Credit and a $500,000 Inventory Line of Credit to meet the Company’s working capital needs.

The Result
With new product offerings, new channels, new customers and our financing package, management is working diligently to re-build the business. Projections show that sales will be up in 2023 and if all goes as planned, the Company should see a 20% increase on bottom line revenue.

About Celtic Capital
Companies looking for working capital to cover operating expenses, fund growth, increase buying power and take advantage of vendor discounts and rebates turn to Celtic Capital. With an appetite for the more complex transactions, Celtic Capital has a history of success in crafting creative, flexible asset based financing solutions from $500,000 to $5 million with no financial covenants.

As an independent lender, working with companies nationwide, Celtic Capital is willing and able to alter price and deal structure and expand lines of credit to handle its clients’ increased revenues; and when cash flow is an issue, will look toward providing an inventory facility to help offset lost cash flow.

If you know of, or are, a business in need of non-traditional financing, contact Mark Hafner at 800.742.0733 or, or visit us at