- The financing package involves CIBC, Business Development Bank of Canada, Farm Credit Canada and Mill Road Capital II
- Swiss Water has been backed since 2016 by Mill Road Capital
- The increased financing will be used for working capital and fund the completion of Swiss Water’s second production line in Delta, British Columbia
Swiss Water Decaffeinated Coffee, a Vancouver-based chemical-free coffee decaffeinator, has expanded its credit facilities by C$33.25 million. The financing package involves CIBC, Business Development Bank of Canada, Farm Credit Canada and Mill Road Capital II.
The increased facility will be used for working capital. It will also fund the completion of Swiss Water’s second production line in Delta, British Columbia, which is expected to open in the third quarter of 2023.
Swiss Water has been backed since 2016 by Mill Road Capital. The company also announced that Justin Jacobs, managing director of Mill Road, has been appointed to the board of directors.
“I am delighted to join the Swiss Water Board.” said Jacobs in a statement. “The company has not only successfully navigated challenges related to covid-19, supply chain headwinds and elevated coffee prices, Swiss Water has also managed to generate record levels of volume and profitability in recent quarters. With this significant expanded financing package completed, the Company is well-positioned to continue its strong performance and complete the capacity expansion at Delta. I look forward to continue working with Frank Dennis and the Company’s entire management team as they further develop Swiss Water as a global coffee company with customers in over 60 countries. I am focused on supporting initiatives to maintain growth and increase profitability to drive returns for shareholders.”
Swiss Water also owns Seaforth Supply Chain Solutions, a green coffee handling and storage business.