NORWALK, Conn.--23 August 2010-- GE Capital, Corporate Finance today announced it is administrative agent for a $168 million cash flow credit facility to Bellisio Foods, Inc., a major frozen foods manufacturer. The loan will be used to refinance debt and for working capital needs. GE Capital Markets served as lead arranger.
Established in 1990, Minneapolis, MN-based Bellisio Foods, Inc., produces frozen food products sold under brands including Michelina's, Lean Gourmet and Budget Gourmet. Bellisio is one of the largest frozen entrée producers in the U.S. averaging 2 million meals a day at its main facility. The company is named after the familial home of founder Jeno Paulucci, in Bellisio Solfare, Italy.
"GE Capital's significant financial commitment and flexibility in structuring the transaction were both important to us," said Joel Conner, Chairman and CEO for Bellisio Foods, Inc. "These contributions allowed us to refinance more expensive debt sooner and better meet our working capital requirements."
"We're dedicated to providing capital solutions that meet the unique financing needs of our clients," said Tom Quindlen, president and CEO of GE Capital, Corporate Finance. "Working with clients to provide liquidity that's critical to executing their business objectives is our specialty."
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Ned Reynolds
GE Capital
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Jeff Wilson
GE Capital Corporate Finance
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