Gibraltar Business Capital (GBC) closed a $22 million senior secured facility for Monterey Mushroom Holdings, the parent company of Monterey Mushrooms, a vertically integrated breeder, producer, packer and shipper of fresh mushrooms in the United States. The financing supports the company’s ongoing working capital needs and strategic capital investments.
With its agriculture-based, vertically integrated model, Monterey Mushroom’s leadership prioritized finding a financial partner that could build solutions that addressed the complexity and seasonality of its operations.
“I personally knew the Gibraltar team and their deep experience in our industry,” Chris Abbott, chief financial officer for Monterey Mushrooms, said. “In addition to a name we already trusted, the two attributes we looked for in a financial partner were creativity and flexibility. Gibraltar was the clear choice on both those fronts.”
The GBC team crafted a custom solution aligned to the company’s production cycles and growth initiatives, including modernization of equipment across its operations.
“This is what we do best,” Scott Winicour, CEO of Gibraltar Business Capital, said. “We understand companies in the agriculture supply chain are navigating unprecedented volatility and uncertainty. Our ability to provide seasonal liquidity through custom solutions is more important now than ever before. We are excited for what this structure will bring to the team at Monterey Mushrooms.”
