WFCF Expands Stampede Meat Secured Credit Facility
Stampede Meat said it has obtained a new secured revolving credit facility and a term loan in the mid-eight figures from Wells Fargo Capital Finance. The maturity date of the credit facility was recently extended to January 2015 and the credit line was recently increased by low eight figures.
Brock Furlong, president and chief executive officer, commented, “We believe the new revolving credit facility reflects continued confidence in the company’s financial performance and strategic direction, and we appreciate the strong support that we have received from our lender. This refinancing will provide us with an increased ability to grow and expand our business and our brand.”
Bridgeview, IL-based Stampede Meat specializes in custom-made center-of-the-plate beef, pork and chicken protein products for the needs of the restaurant, hospitality and retail industry, and sells under its own brand to retailers across the country.