Pacific Mercantile Bank provided a revolving line of credit to Quality Candy Company, a candy manufacturer and distributor. Along with the financing, Quality Candy will utilize a suite of Pacific Mercantile Bank’s depository products and treasury management services.
Quality Candy produces and sells two lines of branded products: King Leo, a brand of peppermint candy dating back to 1901; and Gilliam, a brand of colorful stick candy dating back to 1927. Quality Candy also provides contract manufacturing services to marketers of both mass and niche product lines.
“For years we worked with a large national bank but had become increasingly dissatisfied with the level of service and responsiveness as our financing needs evolved,” Laurie Redmond, president and CEO of Quality Candy Company, said. “As we evaluated new banking relationships, we were very impressed with Pacific Mercantile Bank’s experience in the food and beverage industry, which enabled it to truly understand our business and structure a customized credit facility that meets our borrowing needs. The valuable insight that Pacific Mercantile provided through their Horizon Analytics tool was also a key differentiator from the other banks we considered. With the new credit facility in place, we have the ability to continue executing on our strategies to further grow and diversify our business.”
“Quality Candy is a truly inspiring entrepreneurial success story,” Lisa Wright, senior vice president and regional manager at Pacific Mercantile Bank, said. “From starting the business out of a small apartment in 1986, Quality Candy has grown into one of the leading candy manufacturers in the world, with a customer list that includes most of the largest and best-known retailers and companies in the foodservice industry. We are excited to help support the continued growth of the company in the years ahead.”
