NORWALK, Conn.– GE Capital, Corporate Finance today announced it is administrative agent on $135 million in senior secured financing for King’s Hawaiian, a Torrance, CA-based manufacturer of bread and rolls. The financing will be used to expand the company’s production capacity and for working capital. GE Capital Markets served as sole lead arranger and bookrunner on the senior loan portion of the facilities.
Founded in Hilo, Hawaii in 1950, King’s Hawaiian is a family-owned and operated business dedicated to making Hawaiian products, including the original Hawaiian sweet dinner roll, the number one dinner roll sold throughout the U.S. The company operates baking facilities in Torrance, CA and Oakwood, GA.
“GE understands our needs because of our longstanding relationship, and this has allowed them to successfully structure three separate credit facilities,” said Mark Taira, CEO of King’s Hawaiian. “In addition to structuring expertise, we also value having a lender with deep knowledge of the food and consumer packaged goods markets.”
“We appreciate the challenges and opportunities mid-size food companies face,” said Chris Nay, senior managing director, Food & Beverage, GE Capital, Corporate Finance. “From manufacturers to wholesalers and distributors, we work closely with companies across the industry to provide flexible financing to help them succeed.”
About GE Capital, Corporate Finance
GE Capital, Corporate Finance provides asset-based, cash flow and structured loans and leases to mid-size and large U.S. businesses. Financing supports working capital, growth, acquisitions, turnarounds and balance sheet optimization in key sectors: Aerospace and defense; automotive and transportation; chemicals and plastics; construction and building products, corporate aircraft; energy; food and beverage; manufacturing; marine; metals and mining; paper, packaging and forest products; retail; and technology and electronics. With Access GE, clients also benefit from access to GE’s best practices to help build their business. Visit geccf.com/newsroom or follow @GELendLease on Twitter.
GE Capital offers consumers and businesses around the globe an array of financial products and services. For more information, visit gecapital.com or follow company news via Twitter (@GECapital). GE (NYSE:GE) works on things that matter. The best people and the best technologies taking on the toughest challenges. Finding solutions in energy, health and home, transportation and finance. For more information, visit ge.com.
Source: GE Capital, Corporate Finance
