BHI, the U.S division of Bank Hapoalim and a full-service commercial bank, today announced it has joined a global credit facility for Insignia International (the “Company”) as they continue to grow and expand their operations. As part of the transaction, BHI has provided a $22.5 million pro rata share in the overall facility.
Founded in 2005 and headquartered in Denver, CO, Insignia International is a diversified Hispanic & “better-for-you” food platform comprised of various business segments. The Company operates numerous notable brands, including: La Tortilla Factory, a nationally distributed tortilla brand with a focus on low-carb, organic, and “better-for-you” offerings; 505 Southwestern, a jarred green chile brand in the U.S. with fast-growing salsa and queso offerings; Lilly B’s, a first to market 100% organic burrito available in club stores; and Yucatan Guacamole one of the leading fresh guacamole dip brands in the U.S. and Canada.
BHI has maintained a strong relationship with Insignia (formerly doing business as Flagship Food Group) since 2016.
“Our growth and expansion are only just beginning and we’re greatly appreciative of BHI and all of our financial partners for their commitment to helping us fulfill our vision of building a “better for you” food platform that continually delivers innovative and delicious products that appeal toward consumers’ growing, discerning and diversified tastes,” says Adam Butler, CEO Insignia International.
“Over the last two decades, Insignia International has been at the forefront of growth and innovation in the Hispanic food movement,” says Carl Tiu, senior vice president for food & beverage financing at BHI. “Backed by a proven management team, they’ve built a portfolio of compelling brands offering diversified product lines that position themselves to grow their already strong customer base and expand their market penetration. We’re extremely excited to join this facility and continually help fuel the company’s capacity to dominate this ever-growing category.”
In addition to Insignia, the BHI Food & Beverage team also closed two additional transactions totaling $56 million in credit facilities to a manufacturer and distributor of single-serve meals for the senior and chronic care markets and a manufacturer of confectionaries.
