REDONDO BEACH, CA--(Marketwired - Sep 21, 2016) - SECFilings.com, a leading financial news and information portal offering free real time public company filing alerts, recently published an article reviewing the progress made to date by Hispanica International Delights of America (
In addition to securing financing and making its first acquisition, the company added a seasoned executive to its Board of Directors and completed auditing three years of financial statements. These dynamics put the company on solid footing to increase shareholder value over the long-term.
Hispanica's first milestone was securing a $7.5 million credit facility in early July with TCA Global Credit Master Fund LP. Management established the credit facility to finance its acquisition strategy and organic expansion without diluting existing shareholders. The company also repaid an outstanding note and improved its balance sheet with the funds, which could help set the stage for greater financial flexibility over the coming years.
Less than a month after securing the credit facility, the company acquired Energy Source Distributors Inc. With nearly $3 million in annual revenues, the acquisition provides significant financial leverage and valuable distribution channels into retailers like 7 Eleven, Safeway, Walmart, and more than 2,000 other locations. These distribution channels will form the basis for the launch of ethnic food and beverage brands throughout the United States.
Hispanica has a number of upcoming catalysts that investors should watch for moving into next year and beyond. In addition to growing revenue through a combination of organic and M&A fueled growth, the company plans to achieve a positive cash flow and execute on its overarching vision to become a leading developer and distributor of ethnic foods in the United States -- an industry that is expected to surpass $12 billion in revenue by 2018.
"Our strategy for fiscal 2017 is to grow our existing operations, expand our proprietary portfolio of products, and to move forward with our next strategic acquisition that will continue to expand our top line revenue growth," said CEO Oswaldo Leonzo in a corporate update.
To read the full article, please click the following link: http://analysis.secfilings.com/articles/69-hi...owth-ahead
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SECFilings.com Paul Archie 406-862-2242 parchie@secfilings.com
