FGI Supports EarthFresh With ABL Facility
“EarthFresh is committed to building a stronger, healthier community and managing our environmental impact. Partnering with FGI as our lender allows EarthFresh to further this commitment and realize our plans for continued growth and innovation.”
Founder and President, EarthFresh
“We appreciate the creativity and flexibility FGI showed in shaping our partnership. Their focus on relationships and ability to see the bigger picture of our business are notable. EarthFresh is expanding, and FGI’s support positions us to push our innovations to the next level to continue providing our customers with best-in-class products.”
CFO, EarthFresh
EarthFresh is an international food and agriculture company, specializing in supplying the retail and food service industries with conventional and organic potatoes, carrots, and onions. Founded in 1963, EarthFresh is headquartered in Burlington, Ontario, with operations in the US and Canada.
A market leader with the largest stock of exclusive potato varieties in North America, EarthFresh is committed to best practices and created one of the first sustainability programs in the industry. The Company was looking for a financial partner to provide increased availability, flexibility, and fewer covenants as they navigated accelerated growth and the intricacies of international food and agriculture distribution.
Recognizing the importance of availability and understanding the nuances of lending in the food space, FGI structured a committed, cross-border, asset-based revolver with an additional uncommitted accordion and term loan, to support the Company’s growth initiatives. FGI was aggressive on structure and flexible in PACA reserves, providing increased availability and
liquidity, in addition to fewer covenants, supporting EarthFresh’s financial goals.
