White Oak Commercial Finance originated a new revolving credit facility for healthy meal service company The Good Kitchen.
Originally founded as a meal delivery service, The Good Kitchen will use the proceeds of the credit facility to expand its business into packaged meals sold at 1,500 stores across the United States.
“The Good Kitchen is an excellent example of a fast-growing medium-sized enterprise with excellent organic growth opportunity ahead, provided with the right financing solutions,” said Robert Grbic, president & CEO of White Oak Commercial Finance. “White Oak was able to quickly apply our experience in receivables factoring to develop a credit facility that enables The Good Kitchen to increase its production, meet its growing product demand and deliver healthy meals to more individuals and families around the country.”
The Good Kitchen originally provided ready to eat, healthy meals to local Crossfit gyms when it was created in 2011. Since then the company transitioned to a home delivery business model, achieving year over year revenue growth of 69% in 2017 and 52% in 2018.
The Good Kitchen has secured a contract for its products with one of the largest retail stores in the United States, and is in discussions with other retail companies for the placement of additional products.
