Real Good Food Company Secures New Financing for Growth Strategies
Real Good Food Company Secures New Financing for Growth Strategies
The Real Good Food Company, Inc. (NASDAQ: RGF), a prominent player in the health and wellness frozen food sector, has made significant strides in its business operations following a recent financing announcement. This move is set to enhance manufacturing capabilities and support various initiatives aimed at long-term profitability.
Partnership with PMC Financial Services and Emblem Investments
In a strategic decision, Real Good Foods has restructured its existing financing arrangements with PMC Financial Services Group, LLC, and secured a new $60 million term loan from Emblem Investments Fund I, LP. This new capital infusion enables the company to allocate $8 million toward the repayment of its existing obligations to PMC, while the remaining $52 million will be utilized for corporate purposes and transaction costs.
Implications of the Financing Deal
These financing transactions are expected to catalyze the growth of the company's operational capabilities. The funding will lay the groundwork for several initiatives aimed at increasing efficiency and expanding the product offerings. With an eye on creating substantial long-term value, Real Good Foods issued an equity stake to Emblem, demonstrating alignment between the two entities.
CEO's Insight on Future Growth
In light of these developments, Tim Zimmer, the CEO of Real Good Foods, expressed optimism about the company's future. He emphasized that these transactions serve as a crucial step forward by providing the necessary liquidity to invest in key aspects of their supply chain and strategic initiatives. Such investments are essential for meeting the rising consumer demand for healthier food options.
Long-term Commitments to Quality and Service
This infusion of capital not only secures financial stability but also indicates a commitment to enhancing customer service. Tim's assertion speaks to the company's broader goals of offering high-quality products while ensuring that their supply chain is well-equipped to handle peak demands.
About Real Good Foods and its Mission
Real Good Foods is dedicated to providing nutritious and satisfying meals that align with health-conscious consumer preferences. By focusing on delivering frozen and refrigerated options that are low in sugar and carbohydrates, as well as high in protein, the company caters to those looking for 'Real Food You Feel Good About Eating.' With their product range available in more than 16,000 retail locations across the country, Real Good Foods continues to make its mark in the industry.
Emblem Investments: A Key Partner
Emblem Investments, based in Boston, plays a pivotal role in supporting innovative companies through strategic investments. Their approach focuses on fostering long-term relationships with businesses that exhibit growth potential, making them a compatible partner for Real Good Foods in this new venture.
Frequently Asked Questions
What is the main objective of Real Good Foods' recent financing?
The main objective is to enhance the company's manufacturing capacity and support various growth initiatives for long-term profitability.
How much funding has Real Good Foods secured from Emblem Investments?
The company has secured a term loan of $60 million from Emblem Investments Fund I, LP.
What portion of the new funding will be used for repaying existing debt?
Real Good Foods will use $8 million of the new funding to repay existing obligations to PMC Financial Services Group.
What does this financing mean for customers of Real Good Foods?
This financing is expected to improve the company's supply chain, thereby enhancing product availability and customer service.
How does Real Good Foods differentiate its products?
Real Good Foods differentiates its products by offering nutritious, low-sugar, and high-protein frozen and refrigerated food options that resonate with health-conscious consumers.
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