India Brook Partners advises Principe di San Daniele in arranging financing with Valley National Bank
Short Hills, NJ. Brook Advisors, the investment banking arm of India Brook Partners, is pleased to announce that it acted as exclusive financial advisor to Principe di San Daniele in connection with a new senior bank loan and credit facility for Principe’s U.S. subsidiary Principe Foods USA, Inc. Based in Trieste, Italy, Principe is the leading producer of San Daniele prosciutto and Principe USA is the leading U.S. distributor of San Daniele prosciutto with over 65 % of the market share in the US. Overall Principe has 10 % of the market share of Parma Prosciutto sold in the US and overall 15 % of the total market share of Italian imported specialty meats. Principe USA is based in Long Beach, California.
Financing was provided by Valley National Bank in New York. This financing will assist Principe in continuing to grow and expand its US distribution business. Principe held discussions with a number of lending institutions before deciding to proceed with Valley National Bank. Valley offered a combination of a high rate of financing availability and flexible asset based financing to accommodate the Company’s growth. Brook Advisors originated this transaction and executed a market-based financing process for the Company, presenting the transaction to a number of lenders and managed the full bank credit underwriting process on behalf of Principe.
Founded in 2003 and based in Short Hills, NJ., India Brook Partners is a leading independent investment banking firm providing mergers and acquisitions and financial advisory services to corporations and institutional investors, specializing in the food and beverage industry. The Firm’s clients include leading food companies, private equity firms, financial institutions and management groups.