Certified Origins has secured a $60 million asset-based revolving credit facility from CIT Northbridge to support the food company’s continued growth and investment in North America.
CIT Northbridge served as sole lender on the transaction, while Arch & Beam advised Certified Origins.
Headquartered in Tuscany, Italy, Certified Origins operates U.S. manufacturing facilities in Newport News, Virginia, and Fresno, California.
The company specializes in private-label and co-packing food products, including extra virgin olive oil, tomato sauce, tree nuts and nut butters.
Certified Origins works with growers and producers throughout the Mediterranean region and provides traceable food products to retail and industrial customers in North America and other international markets.
The financing gives Certified Origins additional liquidity as it continues integrating its businesses and investing in its North American operations.
CIT Northbridge provides asset-based revolving and term financing ranging from $15 million to $150 million for middle-market companies across a range of industries.
KEY QUOTES:
“CIT Northbridge’s understanding of our business and ability to deliver a tailored financing solution made them an ideal banking partner as we continue integrating our businesses and investing in the growth of our company in North America.”
Rod Hogan, CFO of Certified Origins
“Certified Origins has built a strong reputation as a trusted provider of high-quality products. We are pleased to extend this recent financing, which provides Certified Origins with additional flexibility to pursue its strategic growth objectives.”
Neal Legan, Business Leader at CIT Northbridge
