Home Market Foods Inc. completes a mezzanine capital financing through an affiliate of Brooks, Houghton & Company, Inc., New York, NY.
October 2, 2003 - Wellesley Hills, MA-based Tully & Holland, Incorporated completes a $7 million mezzanine capital raise for Home Market Foods, Inc, Boston, MA, a leading meat processing company serving the retail and food service markets.The funding provided by an affiliate of Brooks, Houghton & Company, New York, NY, serves to finance the growth, capital expenditures and working capital of middle market companies.
Established in 1957, Home Market Foods, Inc. is one of the country's leading manufacturers of pre-cooked, value-added protein products that are convenient and easy to prepare. Sold under two well-known brand names, Cooked Perfect and RollerBites, the company distributes its products nationally and is dominant in the New England retail meatball market with an 85% share.
Timothy W. Tully, President of Tully & Holland, Inc. says that Home Market Foods, Inc. selected Brooks, Houghton & Company to finance their future growth and working capital because of their ability "to move quickly and compete favorably on an all-in cost basis against longer-term capital." Steven Brooks, Managing Partner of BHC Interim Funding states "our bridge and interim financing to middle market companies imposes no prepayment penalties, providing the company with flexible financing which can result in a lower cost of capital."
Tully & Holland, Inc., an investment bank established in 1992, provides M&A advisory, capital raising, and other corporate finance services primarily to retailers, direct marketers, and consumer product manufacturers and distributors, with a special emphasis on catalogers and food companies. Member NASD, SIPC, Direct Marketing Association, National Retail Federation, Association for Corporate Growth, and Massachusetts Food Association.