Freska Secures $16.9 Million in Financing from Union Bank
- by Jordan Okumura
OXNARD, CA – As the company eyes means of expanding its mango and avocado operations and providing the additional flexibility and growth opportunities, Freska Produce International has announced that it has secured $16.9 million of financing with Union Bank.
In a company press release, Freska Partner Jesus “Chuy” Loza was noted as saying that the deal was something that took the building to the next level in business opportunities and development of the Freska brand of products and services.
“Our constant growth and strong financial results are proof we have good momentum in the market and we feel very confident in our new financing partner,” the company noted. “They brought forward some ideas others did not which made it easy to pick them as our new financing partner.”
The new financing provided needed capital to expand warehouse operations in Nogales, Arizona, and Edinberg, Texas, and purchase a new packing house for California avocados. The company also noted that the Union Bank financing will provided capital for other opportunities that may arrive in the future.
The company currently owns locations in Oxnard, California; Nogales, Arizona; and Los Angeles, California, and is currently in the design phase of building a location in Edinburg, Texas.
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