Advertisement

Pet Food News / Natural / Organic Pet Food
On October 30, 2013

Southern Tier Pet Nutrition announces new capital partner

Siena Lending Group completed three-year US$2.45 million senior secured credit facility

Siena Lending Group LLC announced the completion of a three-year US$2.45 million senior secured credit facility for Southern Tier Pet Nutrition LLC on October 17. The facility will be used to support the company's working capital and capital expenditure needs.

Southern Tier Pet Nutrition, located in Sherburne, New York, USA, is a contract manufacturer of holistic, natural and organic petfoods in the US. The company is owned in partnership by BHC Interim Funding III, L.P. and Ohio Pet Foods Inc.

David Grende, president and CEO of Siena Lending Group, said, "We are pleased that we were able to support Southern Tier during this period of vibrant growth. We're impressed by the leadership in this business and look forward to working together to help management meet all of their future goals."

James Golladay, chairman and president of Ohio Pet Foods, said, "We are very excited to partner with Siena on this transaction. Their flexibility and responsiveness will allow Southern Tier to make productivity increasing investments and build upon the rapid growth it has experienced this year."

Comments powered by Disqus

Advertisement

Advertisement

Advertisement

Read the April issue of Petfood Industry!

April 2015

The April 2015 issue of Petfood Industry looks at different pet food markets around the world. Read about Sojos, a US company which aims to transform the lives of pets through raw pet food. As these specialized diets become increasingly popular in the dog and cat food markets, learn how such trends are carrying over into bird and small animal food. Plus, see how pet food companies in Russia are reacting and reconsidering production strategies in the wake of rising prices due to exchange rate fluctuations.

READ MORE in Petfood Industry magazine

Advertisement