Prana, an organic and plant-based food company, signed a three-year credit agreement for a senior secured revolving loan facility and a senior secured term loan facility with Wells Fargo Capital Finance Corporation Canada that will enable the next stage of the company’s growth.
“This facility provides Prana with the access to the working capital we need to execute our strategic plan. We see great opportunities in our markets and are eager to expand our offering and provide better food solutions to consumers,” Alon Farber, co-founder and CEO of Prana, said.
“Health and wellness remain top of mind in our current environment, so Wells Fargo is excited to support a family-owned business like Prana, whose priority is bringing sustainable, responsibly sourced food to consumers,” Jeremy Baker, managing director for the Central U.S. and Canada loan origination group with Wells Fargo Capital Finance, said. “We look forward to helping Prana execute on their ambitious growth plans and we’re pleased to be part of their continued journey.”
