BHI, a full-service commercial bank, announced that its Food & Beverage Group has arranged a $16.5 million credit facility for White Toque, an importer and distributor of European specialty fine foods. With this financing, BHI’s new F&B Group, which launched last year, originated over $100 million in credit facilities across various F&B categories in 2019.
Headquartered in New Jersey with operations in California, Florida and Canada, White Toque sells both frozen and dry specialty foods to more than 250 distributors and wholesalers across the US. White Toque products include fine condiments and jams, cheeses, appetizers, vegetables, bread, pastry and desserts. The company will use the financing to fund further the expansion of its operations and product lines.
In addition to White Toque, some of BHI’s 2019 F&B financing transactions included: a $58 million credit facility to an importer and distributor of nuts and snacks; a $22 million facility to an importer and distributor of sustainable coconut based oils, derivatives, and specialty green chemicals used in food, cosmetics, and industrial industries; and a $7.5 million credit facility to a supplier of colorants and raw materials used in the production of food and beverage containers.