US: Bay Area Beverage Co completes funding deal
Bay Area Beverage Company, the California drinks distributor, has completed a US$50m deal with GE Commercial Finance, Franchise Finance (GEFF) to support the acquisition on Concord Beverage.
GEFF was the sole lead arranger on the agreement, which made Bay Area Beverage Co. the largest distributor in the region. The agreement allowed Bay Area Beverage to acquire Concord Beverage, gain additional collateral, and buy a new warehouse.
"Bay Area Beverage Company is now ranked in the top 10% of all distributors in California," said Tom F. Louderback, CEO of Bay Area Beverage Company.
"We are successful because of our people and the relationships we have in the business. Having a relationship with GEFF will only propel us further."
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