CHICAGO--(BUSINESS WIRE)--GE Capital, Corporate Finance today announced it is administrative agent and lender on a $125 million revolver for Shearer’s Foods, LLC, a leading manufacturer and distributor of snack products. The financing will be used for the acquisition of three Barrel O’ Fun snack food companies from KLN Enterprises, as well as for working capital needs. GE Capital Markets served as lead arranger and bookrunner on the transaction.
Shearer’s is headquartered in Massillon, Ohio. The three acquired Barrel O’ Fun snack food companies are located in Perham, Minnesota and Phoenix and Waterford, Pennsylvania.
“Dating back to the beginning of our relationship in 2009, GE Capital’s expertise in lending in the food industry has made a big difference in our financing solutions,” said Fritz Kohmann, CFO for Shearer’s Foods. “As we continue to grow, it’s critical that we have a team that knows the space and can support our company via financing structures that meet our changing needs.”
“Our team specializes in providing financing structures to food companies that give customers access to the capital and flexibility needed to help them grow,” said Chris Nay, senior managing director Food & Beverage, GE Capital, Corporate Finance. “Through our deep understanding of the industry, we’ve earned the trust of our food industry customers who know they can count on us for smart financing commitments.”
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; automotive and transportation; chemicals and plastics; construction and building products, corporate aircraft; oil and gas; food and beverage; manufacturing; marine; metals and mining; paper, packaging and forest products; retail; and technology and electronics. Visit geccf.com/newsroom.