Boston, Aug. 16, 2022 (GLOBE NEWSWIRE) -- Gordon Brothers, the global advisory, restructuring and investment firm, has provided Plainville Farms a $12 million term loan to support the organic and antibiotic-free turkey processor and distributor’s operations.
Plainville Farms will use the committed facility for working capital purposes and to support increased demand from customers.
“Thanks to proactive leadership in response to inflationary risks and increased demand, Plainville Farms has demonstrated tremendous resiliency in continuing to serve its customers,” said Kyle C. Shonak, Head of Lending, North America, at Gordon Brothers. “We were happy to provide responsive capital to support future operations and continued growth.”
“With Gordon Brothers’ support, Plainville Farms can ramp up operations with confidence as we enter the busiest time of year,” said Deepak Ramanathan, who oversees the financing activity at Plainville Farms. “This funding is critical to our short- and long-term growth strategy.”
Gordon Brothers Capital provides both short- and long-term capital to clients undergoing transformation. The firm lends against and invests in brands, real estate, inventory, receivables, machinery, equipment and other assets, both together and individually, to provide clients liquidity solutions beyond its market-leading disposition and appraisal services.
Gordon Brothers partners with management teams, private equity sponsors, strategic buyers and asset-based lenders globally to provide our expertise and additional capital in special situations. The firm’s tailor-made solutions provide clients additional capital alongside traditional debt and equity, and its structures complement senior asset-based lending facilities and include credit and yield enhancements.
About Gordon Brothers
Since 1903, Gordon Brothers (www.gordonbrothers.com) has helped lenders, management teams, advisors and investors move forward through change. The firm brings a powerful combination of expertise and capital to clients, developing customized solutions on an integrated or standalone basis across four services areas: valuations, dispositions, financing and investment. Whether to fuel growth or facilitate strategic consolidation, Gordon Brothers partners with companies in the retail, commercial and industrial sectors to provide maximum liquidity, put assets to their highest and best use and mitigate liabilities. The firm conducts more than $100 billion worth of dispositions and appraisals annually and provides both short- and long-term capital to clients undergoing transformation. Gordon Brothers lends against and invests in brands, real estate, inventory, receivables, machinery, equipment and other assets, both together and individually, to provide clients liquidity solutions beyond its market-leading disposition and appraisal services. The firm is headquartered in Boston, with over 30 offices across five continents.
About Plainville Farms
Plainville Farms® is the uncommon natural and certified organic turkey and deli brand that families, like ours, have trusted for generations. Raised by dedicated family farmers, our turkey products are known for their wholesome flavor and for the way they warm up a table. With roots dating back almost two hundred years, family farming has taught us to raise flocks ethically and transparently. Unlike many conventional farms, we never ever administer antibiotics. Instead, our practices promote health and well-being to prevent our flocks from getting sick. We only feed our flocks a high-quality, fortified diet of vegetarian grains in a stress-free environment in accordance with our highest standards. You can taste these differences in the products you enjoy all year round. Our products and recipes make it easy!
