NORWALK, Conn.--(BUSINESS WIRE)--GE Commercial Finance -- Corporate Lending today announced it has provided a $175 million cash flow credit facility to Cliffstar Corporation, a leading producer of shelf stable private label fruit juices. The loan will be used to refinance current debt and provide liquidity for future expansion.
Headquartered in Dunkirk, N.Y., Cliffstar serves leading grocery stores, mass merchandisers, food service companies and major retailers in the U.S. and Canada.
"GE used their in-depth industry expertise to structure financing that provides us with maximum flexibility and liquidity," said Dale R. Payne, Chief Financial Officer for Cliffstar Corporation. "They understood our seasonal working capital requirements as well as the market trends and created a facility to match our needs."
"Private label products are increasing in popularity and acceptance as retailers continue to leverage the differentiation private label provides, while consumers are taking notice of the narrowing quality gap between private label versus branded goods," said Dennis Krause, Food, Beverage and Agribusiness Industry Leader for GE - Corporate Lending. "There are many intriguing challenges and opportunities in this market and GE strives to provide companies like Cliffstar with smarter capital to meet their business needs."
Industry Specialization
To better meet the unique financing needs of customers, GE Corporate Lending has a team of Industry Leaders supported by dedicated research analysts. These industry experts work closely with GE Corporate Lending's regional teams to build customized financing solutions for companies across key industries: Aerospace & Defense; Automotive & Automotive Parts; Chemicals & Plastics; Food, Beverage & Agriculture; Financial & Business Services, General Manufacturing; Paper, Packaging & Forest Products; Steel & Diversified Metals; Technology; and Transportation & Construction. The industry-aligned approach also builds on GE Corporate Lending's experience as a leading provider of financial solutions for the Retail industry and for companies in need of Project, Turnaround and Restructuring Finance.
About GE - Corporate Lending
With $14 billion in assets, GE Commercial Finance Corporate Lending is one of North America's largest providers of asset-based, cash flow, structured finance and other financial solutions for mid-size and large companies. From over 30 offices throughout the U.S. and Canada, Corporate Lending specializes in serving the unique needs of borrowers seeking $10 million to $1 billion and more for working capital, growth, acquisitions, project finance and turnarounds. Visit gelending.com for more information.
About GE Commercial Finance
GE Commercial Finance, which offers businesses around the globe an array of financial products and services, has assets of over $233 billion and is headquartered in Norwalk, Connecticut. GE (NYSE: GE) is Imagination at Work -- a diversified technology, media and financial services company focused on solving some of the world's toughest problems. GE serves customer in more than 100 countries and employs more than 300,000 people worldwide. For more information, visit ge.com.