Natural Alternatives International, a formulator, manufacturer and marketer of nutritional supplements, executed a new and expanded credit facility with Wells Fargo Bank. This new credit facility replaces Natural Alternatives International’s previous facility, increases the company’s borrowing capacity from $10 million to $20 million and allows the company to use the credit line to not only support ongoing working capital needs but also to facilitate potential future acquisitions. The maturity date for the new facility also has been extended to May 24, 2024.
“We are grateful for our longstanding relationship with Wells Fargo and we believe this new credit facility is made possible by our continued financial success and strong balance sheet,” Mark A. Le Doux, chairman and CEO of Natural Alternatives International, said. “While we don’t have any current need for this facility, we believe it further strengthens our financial position and provides us the ability to take advantage of growth opportunities that may be presented to us in the future.”
