USA: Kipling Financial Inc refinances Peak Brewing
Peak Brewing Group has announced the completion of an arm's length refinancing transaction with Kipling Financial Inc.(Kipling).
In the deal, Peak's wholly-owned subsidiary, Okanagan Beverage Cororation.(OBC), has sold certain brewery assets, valued at $US400,000, to Kipling and Kipling has in turn leased the assets to Peak for a period of five years.
Proceeds of the transaction were used to retire certain secured debts of OBC and for general working capital and accounts payable reduction purposes.
Peak Brewing Group Inc is a distribution company with an extensive sales and service network throughout British Columbia. The company manufactures a mainstream beer, Peak Lager, and Tree micro-brewed Brands (Hophead, Fireweed, Tree Amber Ale and Tree Pale Ale), and fountain RC Cola.
Peak also distributes a variety of new age beverage products. Peak Brewing's manufacturing facilities and head offices are located in Kelowna BC.
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