GE Corporate Lending Provides $175 Million Cash Flow Credit Facility to Cliffstar Corporation
NORWALK, Conn.--(BUSINESS WIRE)--GE Commercial Finance – Corporate Lending today announced it has provided a $175 million cash flow credit facility to Cliffstar Corporation, a leading producer of shelf stable private label fruit juices. The loan will be used to refinance current debt and provide liquidity for future expansion.
Headquartered in Dunkirk, N.Y., Cliffstar serves leading grocery stores, mass merchandisers, food service companies and major retailers in the U.S. and Canada.
“GE used their in-depth industry expertise to structure financing that provides us with maximum flexibility and liquidity,” said Dale R. Payne, Chief Financial Officer for Cliffstar Corporation. “They understood our seasonal working capital requirements as well as the market trends and created a facility to match our needs.”
“Private label products are increasing in popularity and acceptance as retailers continue to leverage the differentiation private label provides, while consumers are taking notice of the narrowing quality gap between private label versus branded goods,” said Dennis Krause, Food, Beverage and Agribusiness Industry Leader for GE - Corporate Lending. “There are many intriguing challenges and opportunities in this market and GE strives to provide companies like Cliffstar with smarter capital to meet their business needs.”
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