Financing Amount: $3,940,000 Financing Date: March 25, 2016
About The Company
Chef’s Requested Foods, Inc. (the “Company”) began as a local meat purveyor in Oklahoma City in 1979 and has built a solid reputation processing premium quality, value-added meats including beef, pork, and poultry. Located in Historic Stockyards City, Oklahoma, home of the world’s largest stocker and feeder cattle market, Chef’s Requested Foods, Inc. is recognized as the #1 brand of Bacon Wrapped Filets in the US. Company prides itself on being the category leader in hand-trimmed meats and prepared foods packaging in the kitchens at home or for food service operators.
Like many other small businesses, Company’s growth trajectory put a strain on the relationship with its current lender. The Company tripped a net income covenant and as a result, the bank began proceedings to exit the relationship despite positive cash flow and year over year growth from the Company.
Alantes provided a $3.0MM scalable accounts receivable and inventory line of credit along with a $790K machinery and equipment term loan and a $150K real estate term loan. The funds provided were used to refinance the existing bank debt with more appropriate risk-adjusted capital in addition to providing working capital to help fuel the continued growth of the company. “We are very thankful for the expertise and success that Alantes was able to provide Chef’s Requested Foods during this critical business juncture,” said Chef’s President John Williams. “At the end of the day, our business can continue providing its quality products to our clientele with financing partners supporting us that are aligned with our growth trajectory. We have Alantes to thank for that.”
Alantes Corporate Finance (“Alantes”) specializes in capital raises and strategic advisory for small to middle market businesses across the nation. Our team prides itself on our ability to provide unique solutions for all of your business needs. Whether you're looking to acquire a new company or additional working capital for operations, Alantes is your trusted source for business growth and expansion. Our multi-faceted approach allows us to craft creative solutions that adds value at the most critical junctures so you can focus your resources on core business activities.
For more information on this transaction, contact Alantes Corporate Finance at email@example.com.
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