Daily News: July 26, 2012

Northway Bank Extends New Line of Credit to Browne Trading Company

Northway Bank, a subsidiary of Northway Financial, announced that it has provided a working capital line of credit to Browne Trading Company, a purveyor of seafood and caviar in both the wholesale and retail channels. This new line of credit, facilitated by KCP Advisory Group, a provider of financial advisory, corporate restructuring and business advisory services, opens the door for expansion into new markets and distribution channels for the company.

“Browne Trading is a quality company that provides extraordinary product delivered with extreme care and excellent service,” commented Jacen Dinoff, CEO and co-founder of KCP. “I am very pleased to contribute to the continued growth and success of this amazing company.”

This new line of credit marks a major turning point for one of the nation’s most respected providers of seafood and caviar. Engaged by Browne in May 2011, KCP has worked with the management team to position the company for greater success through continuous improvement of the company’s access to capital to facilitate growth and expansion of its operations, including this latest transaction with Northway.

“Browne is both a family legacy and a labor of love of mine,” stated Rod Browne Mitchell, owner and founder of Browne Trading Company. “I’m very excited about the opportunities that are made possible by this new line of credit.”

“Browne Trading has an outstanding reputation in its industry for quality product and service,” adds John Tyson of Northway Bank. “We are pleased to be working them as they continue to expand their reach and operations.”