Coast Seafoods Company (“Coast”) is one of the largest privately-held oyster farms in the United States. Coast also owns and produces product under the “Hilton Oyster” label for distribution in grocery stores throughout North America. Expansion of oyster bed development and an oyster seed facility in Hawaii required funding beyond the capacity of its current banking arrangements.
Zachary Scott was engaged to help the company determine its funding needs over time and entered the market to arrange a properly structured financing package to assure funding of the business plan.
A new term and revolving credit facility were structured to provide Coast with sufficient funding to accomplish its expansion in a structure that was flexible enough to meet the vagaries of the farming operation.