RALEIGH,
N.C., Dec. 20, 2023 /PRNewswire/ -- First
Citizens Bank today announced that CIT Northbridge Credit, as
advised by First Citizens Institutional Asset Management LLC, has
provided working capital financing via a revolving line of credit
to Winona Foods in Green Bay,
Wisconsin.
Winona Foods is a fully integrated processor and distributor of
cheese and cheese products for food service, industrial
ingredients, and retail sectors. Their sophisticated manufacturing
capabilities allow Winona Foods to produce a variety of cheese
products along with other portion-controlled products such as dips,
sauces, and dressings.
"We appreciated CIT Northbridge's agility and expertise in
delivering a financial package that supports our efforts to make
meaningful strides toward our strategic objectives, especially as
we head into a new year," said Luke
Kelly, Chief Financial Officer of Winona Foods.
"We were delighted to support Winona Foods with this financing
to help grow their business," said Neal
Legan, who leads the team that advises CIT Northbridge.
CIT Northbridge Credit is a trusted financial partner
supporting middle-market companies with a broad range of flexible
asset-based debt solutions. A joint venture advised by First
Citizens Institutional Asset Management, it provides revolving and
term loan commitments from $15
million to $150 million to
companies across various industries and business cycles, and serves
primarily as sole lender, agent, club participant or co-lender.
About First Citizens Bank
First Citizens Bank
helps personal, business, commercial and wealth clients build
financial strength that lasts. Headquartered in Raleigh, N.C., and
now celebrating the 125th anniversary of its founding, First
Citizens has built a unique legacy of strength, stability and
long-term thinking that has spanned generations. First Citizens
offers an array of general banking services including a network of
more than 500 branches and offices in 30 states; commercial banking
expertise delivering best-in-class lending, leasing and other
financial services coast to coast; innovation banking serving
businesses at every stage; and a nationwide direct bank. Parent
company First Citizens BancShares, Inc.
(NASDAQ: FCNCA) is a top 20 U.S.
financial institution with more than $200
billion in assets. Discover more at
firstcitizens.com.
MEDIA RELATIONS:
Ella
Bristow
(212)
461-5322
Ella.Bristow@firstcitizens.com
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SOURCE First Citizens Bank