Wholesome Goodness continues to seek strategic partners that can provide equity capital and strategic expertise to continue the Company's growth.
IRVINE, CALIFORNIA, UNITED STATES, April 18, 2019 /EINPresswire.com/ — April 17, 2019, Irvine, CA and Long Grove, IL – Keystone Capital Markets Inc. (“Keystone”) announced today the closing of a credit facility obtained for Wholesome Goodness, LLC, a leading and growing company in the healthy snacks sector. Keystone served as exclusive financial advisor to Wholesome Goodness in the transaction.
Based near Chicago, Illinois, Wholesome Goodness has created a line of branded foods focused on the rapidly growing natural, better-for-you segment with an emphasis on healthy snacks and cold cereals. The products were selected and formulated based on feedback from consumers in test markets beginning in 2012 and under the guidance of the renowned physician-nutritionist Dr. David Katz. These efforts resulted in a popular, award-winning portfolio of healthy and delicious foods. Most recently, Wholesome Goodness acquired Riceworks® from Shearer’s Foods Inc., a global leading co-packing and manufacturing company in the snack food segment. Riceworks, with a well-known product line of proprietary delicious, healthy rice-based chips, added significant volume to the Wholesome Goodness® lineup. The Company’s products are carried in over 5,000 food retail stores in North America, including Costco, BJ’s, Kroger, Albertson’s, Ahold Delhaize, Loblaw’s, Walmart and numerous others. Wholesome Goodness’ management expects its product distribution to cover over 10,000 stores by the end of 2019.
“This transaction was the result of an exhaustive effort to find the right credit group with the best terms possible to partner with Wholesome Goodness management”, remarked Avi Suriel, Managing Director who led the transaction for Keystone. David Luvisa, the other Keystone Managing Director on the deal remarked, “It was essential that the facility enable the Company to cover its liquidity and working capital needs, as well as evolve over time as necessary to support further growth and product broadening. We believe it is the first step supporting an aggressive expansion of the Wholesome Goodness and Riceworks brands across new geographies, multiple distribution channels, line extensions and adjacent product categories”.
Jeff Posner, Wholesome Goodness’ CEO, commented on the transaction: “Avi and David worked tirelessly to find us the optimal partner for our Company in a well-planned process. They dedicated significant time and effort to find the financing we needed. Particularly valuable was their creativity in helping structure a flexible facility with the lender, successfully negotiating terms, as well as their strategic counsel throughout the process. As our company reaches new heights and expands our position in the healthier snacks segment, we will continue to view Keystone as a trusted advisor for our future financial needs.”
Keystone Capital Markets provides Investment Banking and Strategic Advisory services to middle market companies. Keystone’s dealmakers have collectively completed hundreds M&A and capital raise of transactions for clients across a diverse array of industries, including consumer products, manufacturing, business services, wholesale distribution, healthcare services, and technology.
Keystone has been retained to identify strategic partners for Wholesome Goodness that can provide equity capital and strategic expertise to foster the company’s continued growth in the healthy snack segment. For more information contact Avi Suriel at (949) 404-4458 or David Luvisa at (949) 556-4300.
Source: EIN Presswire