Daily News: September 26, 2013

BofA Business Capital Provides ABL to A.L. Schutzman

Bank of America Business Capital announced it provided a new $26.5 million asset-based credit facility to the A.L. Schutzman Company. Proceeds will be used to support working capital.

“Our new relationship with A.L. Schutzman is a great example of the ability of Bank of America Merrill Lynch to provide seamless and efficient credit and liquidity management solutions to our customers,” said Jeff McLane, president of Bank of America Business Capital. “We look forward to helping A.L. Schutzman grow and prosper in the coming years.”

“We’re very pleased to enter into this relationship with Bank of America Business Capital”, said Joel Knudson, chief financial officer of A.L. Schutzman. “This is an important step in the evolution of our business, allowing us to structure a loan focused around our growth and development needs in addition to helping manage our business more efficiently as we serve our customers.”

Founded in 1921, A.L. Schutzman is based in Waukesha, WI. The company and its divisions ‐ Ashdon Farms, Mallory’s Finest and Devon’s Chocolates — produce a wide variety of nuts, trail mixes, dried fruit blends and chocolates.