Investment banking firm’s efforts to secure new lender and additional access to capital helps position Food Markets Northwest for future growth says company’s CEO.
March 6, 2002, Seattle, WA – The Food Partners (TFP), a national investment banking firm focusing exclusively on the food chain, said today that it advised Seattle,WA-based Food Markets Northwest (FMNW) in connection with the company’s recently completed refinancing.
The transaction includes the refinancing of FMNW’s outstanding term debt and provides capital availability for planned remodels, new stores and other opportunities as they arise.
“One of our major refinancing objectives was to find a lender who understands our business, one who was willing to partner with us in pursuing our growth strategy. TFP’s thorough understanding of the food industry’s capital sources helped us find that lender in The Commerce Bank of Washington,” said Terry Halverson, FMNW’s president and chief executive officer.
In addition, TFP helped structure a deal that benefits all participants and positions us for future growth through new store development opportunities available to the company. We’re more than pleased with the result,” he added.
FMNW is a dynamic, three-store grocery chain serving Seattle and Tacoma markets under the banners of Queen Anne Thriftway and Admiralty Thriftway. FMNW’s upscale stores offer a broad array of traditional departments, products and services as well as a number of specialty departments considered unique in both quality and relative value.
The company’s Queen Anne Thriftway was voted among the top metro area stores in the Seattle Weekly’s “Best Supermarkets” category for 2001.
The Food Partners, with offices in Washington, DC, and Seattle, WA, is a national investment banking firm focusing exclusively on the food chain and its capital sources. TFP provides merger, acquisition, divestiture, capital raising, strategic advisory and loan portfolio services to the food industry. Clients served by TFP span the entire food chain with a particular emphasis on private middle market companies and cooperatives.
