Stampede Meat, Inc. Enters Into Expanded Revolving Credit Facility
With Wells Fargo Capital Finance, LLC
Stampede Meat Lays Financial Foundation for Future Growth
BRIDGEVIEW, IL -- (Marketwire) -- 07/10/12 -- Stampede Meat, Inc.,
a leading provider of beef, pork, and chicken protein products for
the restaurant, hospitality and retail industry, has obtained a new
secured revolving credit facility and a term loan in the mid eight
figures from Wells Fargo Capital Finance, LLC, part of Wells Fargo &
Company (NYSE: WFC). The maturity date of the credit facility was
recently extended to January 2015 and the credit line was recently
increased by low eight figures.
Brock Furlong, president and chief executive officer, commented, "We
believe the new revolving credit facility reflects continued
confidence in the company's financial performance and strategic
direction, and we appreciate the strong support that we have received
from our lender. This refinancing will provide us with an increased
ability to grow and expand our business and our brand."
Vito Giustino, chief financial officer, further commented, "We are
also pleased that we received commitments giving us longer-term
liquidity and increased flexibility to invest in the business. This
capital structure provides substantial flexibility to support our
overall business and our aggressive growth goals."
Stampede operates with a philosophy of customer intimacy that is
supported by a strong and experienced team to help the company create
products that exceed customer expectations. Management believes this
customer focus is the key to the company's continued success.
About Stampede Meat, Inc.
Stampede Meat, Inc. specializes in
custom-made center-of-the-plate beef, pork and chicken protein
products for the needs of the restaurant, hospitality and retail
industry, and sells under its own brand to retailers across the
country. It creates seasoned and prepared value-added meats,
portioned cuts and fully cooked beef, pork and chicken products.
Stampede has created a niche in the market by serving customers with
innovative meat products that are tailored to their unique needs.
Founded in 1995, the company is headquartered in Bridgeview,
Illinois. With sales approaching $350 million and over 1,000
employees, Stampede supplies more than 150 customers with over 850
different value-added products throughout the United States and
AT STAMPEDE MEAT, INC.:
President and CEO
AT DRESNER CORPORATE SERVICES:
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