City of Industry, California based Golden West Packaging Group LLC, a West Coast independent manufacturer of custom corrugated packaging solutions, announced the completion of an amendment to its credit facilities which it says will enhance its ability to accelerate growth, innovation, and market expansion.
The transaction includes substantial new equity investment and a significant extension of debt maturities beyond 2030, providing Golden West with the financial flexibility to execute its long-term growth strategy.
“This substantial equity investment and maturity extension provides us with the strategic flexibility we need to scale in key markets and continue to deliver innovative packaging solutions for our customers,” said CEO Mark Favre. “The investment is a strong vote of confidence in our team and our future. We are proud that 100 percent of Golden West’s existing lenders supported the company in this transaction and deeply grateful for the collaborative effort taken by all stakeholders in executing this transformational step.”
“We have never been in a better position to fulfill our mission as the West Coast custom packaging supplier of choice,” said Brian McDonnell, Chief Financial Officer.
“This milestone accelerates our ability to strengthen operations, expand capabilities and serve the evolving needs of customers across a broad and growing set of industries.”
With the new equity infusion, Golden West says it will continue advancing its fully integrated platform, including the upgrade and build-out of a state-of-the-art 110” corrugator. The strengthened balance sheet also enables optimization of working capital, increased R&D investment, and expansion of technical capabilities.
Golden West Packaging has completed the commissioning of its Heidelberg press and Masterflute laminator, significantly expanding the group’s capacity and capabilities. The company said the Heidelberg press delivers unmatched print quality, speed, and versatility, while the Masterflute laminator offers a highly flexible platform designed to handle a wide range of unique flute profiles.
In addition, the recent installation of two Bobst die-cutters enhances production precision and efficiency, providing greater value, reliability, and flexibility to customers across a range of markets, the company said.
“Golden West’s momentum is fueled by the cultural transformation we’ve embraced over the past year — one centered on customer obsession, creating an outstanding team member experience and relentlessly pursuing operational excellence,” said Kelley Wenter, Chief Operating Officer. “These pillars drive everything we do, empowering us to deliver innovation, quality, service and sustainability in every solution we bring to our customers and partners.”
https://boardconvertingnews.com/golden-west-announces-new-investments-debt-extension/
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