Meduri Farms Closes Debt Refinancing and Secures Capital for Future Growth

Producer of dried fruit ingredients announced it has successfully closed a debt refinancing with Pathward®, N.A., a leading national commercial lender.

DALLAS, OREGON, UNITED STATES, May 13, 2024 /EINPresswire.com/ -- Meduri Farms, a leading global producer of dried fruit ingredients, today announced it has successfully closed a debt refinancing with Pathward^®, N.A., a leading national commercial lender.

“Today is a major milestone in the history of Meduri Farms with the successful completion of our debt refinancing. This next phase of the Company is dedicated to sustainable growth and financial stability, in addition to our continued mission of providing quality fruit products for some of the biggest food manufacturers in the world,” said Dominic Meduri, President of Meduri Farms. “We could not have navigated this process without the support of SierraConstellation and Pathward. We also want to thank our suppliers, customers, and employees who have remained incredibly loyal as we’ve navigated the challenges of the past few years.”

Philip Kaestle of SierraConstellation Partners served as Chief Restructuring Officer to Meduri Farms, leading the debt refinancing process which included the infusion of capital to reestablish Meduri Farms’ strong financial position and the repayment of debt to its incumbent lenders. Michael Fletcher of Tonkon Torp LLP served as legal counsel to Meduri Farms in connection with the debt refinancing and related transactions.

“It has been a privilege to work alongside Dominic and the entire team at Meduri Farms. The Company is well positioned for continued leadership as a global producer, delivering the high-quality products that we all enjoy today, while maintaining its commitment to drive economic growth in the area,” added Kaestle.

Family owned and operated since 1984, Meduri Farms, Polk County, Oregon’s largest employer, is an exporting global powerhouse and an innovator of dried blueberry and other dried fruit products. The Company owns and operates an infusion and drying production facility, along with its own packaging line. Recently, Meduri Farm’s cofounder, Joe Meduri, was the recipient of the “Food Manufacturing and Advances in Blueberry Products” award by the United States Highbush Blueberry Council.

Up next for Meduri Farms is SIAL China, Asia’s largest food and beverage trade show, May 28-30, 2024 in Shanghai, China.

For more information on Meduri Farms visit, https://medurifarms.com/.

About Pathward^®
Pathward^®, N.A., a national bank, is a subsidiary of Pathward Financial, Inc. (Nasdaq: CASH). Pathward is a U.S.-based financial empowerment company driven by its purpose to power financial inclusion. Pathward strives to increase financial availability, choice and opportunity across our Banking as a Service and Commercial Finance business lines. The strategic business lines provide end-to-end support to individuals and businesses. Learn more at Pathward.com.

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