Bridgetown Natural Foods lands $7M
By Wendy Culverwell
Bridgetown Natural Foods will use a $7 million capital infusion to expand the business.
Bridgetown Natural Foods LLC announced Monday it has secured a $7 million line of credit that will allow it to retire startup loans early.
The privately held Portland firm secured financing from NewStar Business Credit, a subsidiary of NewStar Financial Inc.
CEO Dan Klock said the deal caps a year of strategic growth that saw Bridgetown invest in hiring, infrastructure and industry certifications.
It will use the credit for working capital, continued expansion and to repay startup loans it secured from the Portland Development Commission and Oregon Business Finance.
Bridgetown is a contract manufacturer of all-natural, organic and gluten free healthy snack products, including fruit bars, baked goods, granola and cookies.
It operates from a 110,000-square-foot facility in Southeast Portland.
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