ORIX Growth Capital (“ORIX”) and Bridge Bank today announced that the firms have provided Revolution Foods with a revised accounts receivable line of credit facility from Bridge Bank alongside a venture term loan shared by Bridge Bank and ORIX.
Revolution Foods is a leading provider of healthy and affordable meals to millions of students and families across America. The line of credit will be used to support general working capital requirements, while the term loan will be used to help refinance existing debt and provide long-term growth capital for the company to invest in its consumer packaged goods business and manufacturing plant expansion.
“Bridge Bank and Revolution Foods first worked together in 2010 and we are proud to be part of their continuing story,” said Mike Lederman, Senior Vice President with Bridge Bank. “We have provided the Company with a variety of banking services and credit facilities over the years, and are pleased to join with ORIX on this recent financing to further extend and support the relationship. We value our long-term relationship and appreciate the opportunity to work with a company that carries such strong values and helps children and families across the country.”
“Revolution Foods has successfully achieved a unique scale and market leading position within the healthy school meals segment,” said Joel Gragg, Managing Director at ORIX Growth Capital. “They are the recognized healthy brand and partner of choice for schools and students across the United States.”
“Bridge Bank has been a critical resource in supporting the growth and impact of Revolution Foods. With Bridge Bank and ORIX’s new financing, we will continue to expand our platform to become the leading provider of healthy family meals across the nation,” said Kristin Richmond, CEO and Co-founder of Revolution Foods.