Funds will be used to help The Good Kitchen expand into new packaged food line of business for retail
NEW YORK–(BUSINESS WIRE)–White Oak Commercial Finance (“White Oak”), an affiliate of White Oak Global Advisors, announced today the origination of a new revolving credit facility to 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.
“I founded The Good Kitchen with a very simple goal of making nutritious, healthy, responsibly-sourced and great tasting meals easily accessible to everyone,” said Amber Lewis, Founder and Chief Executive Officer of The Good Kitchen. “I am so grateful individuals across the country continue to embrace our cooking, and grateful to have a partner like White Oak who sees the benefits The Good Kitchen provides to our communities and helped create business solutions to help us meet our goals.”
ABOUT WHITE OAK COMMERCIAL FINANCE, LLC
White Oak Commercial Finance, LLC is a global financial products and services company providing credit facilities to middle market companies between $5- $50 million. WOCF’s solutions include asset-based lending, full-service factoring, invoice discounting, supply chain financing, inventory financing, U.S. import/export financing, trade credit risk management, account receivables management and credit and collections support. WOCF is an affiliate of White Oak Global Advisors, LLC, and its institutional clients. More information can be found at www.whiteoaksf.com.
ABOUT WHITE OAK GLOBAL ADVISORS, LLC
White Oak Global Advisors, LLC is a leading global alternative asset manager specializing in originating and providing financing solutions to facilitate the growth, refinancing and recapitalization of small and medium enterprises. Since its inception in 2007, White Oak Global Advisors, LLC’s disciplined investment process aims to deliver risk-adjusted investment returns for our investors while establishing long term partnerships with our borrowers. More information can be found at www.whiteoaksf.com.