BHI’s food and beverage group arranged a total of $61.6 million in two financing transactions for Teasdale Latin Foods and Resnick Distributors.
BHI provided a revolving line of credit to refinance existing debt and support working capital for Teasdale Latin Foods, a Texas-based, private equity-owned food company focused on the Latin American food category. The company has a portfolio of seven brands and works with name brand food companies via private label and co-manufacturing relationships. The financing is the second BHI transaction for a portfolio company of Snow Phipps Group, the private equity sponsor.
“The skilled team at BHI demonstrated their expertise at working with food and beverage companies. They fully understand our needs and support our objectives as we move ahead with our targeted plans for growth,” Caryn Doyle, CFO of Teasdale Latin Foods, said.
For Resnick Distributors, BH provided financing for working capital, capital expenditures and real estate. Resnick, based in New Brunswick, NJ, is a convenience store distributor.
“BHI is now our primary banking relationship and has become a trusted financial partner. The F&B group has come to know our business well, and we look forward to working with BHI on an ongoing basis into the future,” Steven Resnick, president of Resnick Distributors, said.
“We are very pleased to partner with both Teasdale and Resnick. At BHI, it is our priority to forge personal and long-term relationships with clients that go beyond a single transaction. We understand the unique challenges of food and beverage companies and tailor financial solutions to meet them,” Thomas Vigna, senior vice president and team leader of food and beverage at BHI, said.
BHI is a registered service mark of Bank Hapoalim, a financial institution in Israel.
