Daily News: December 4, 2013

AloStar Provides Credit Line/Term Loan to Murry’s

AloStar Business Credit has provided a senior secured credit line and term loan to Murry’s. Terms of the senior secured credit line and term loan were not disclosed.

“We are excited about our new partnership with Murry’s, Inc.”, said Andy McGhee, president of AloStar Business Credit. “The company is equipped with strong capital resources to support its continued growth over the next several years.”

“AloStar understood how best to structure our deal based on our needs,” said Ira Mendelson, chairman, president and CEO of Murry’s, Inc. “We were immediately impressed with AloStar and once we met with senior officers our initial reaction was reinforced. AloStar handled the process both efficiently and professionally.”

Marlboro, MD-based Murry’s produces and supplies food products for breakfast, lunch and dinner. Through its national sales division, the company distributes its products to grocery chains and foodservice customers across the country. Through its food store division, the company operates 23 limited-assortment value concept food stores in Washington, D.C., Maryland, Virginia and Philadelphia.