Sager Creek Vegetable Company produced and marketed processed vegetable products under many brand names including Popeyes and Freshlike.
In 2013, needing to reorganize and rebuild, Sager Creek filed for Chapter 11 bankruptcy protection.
Sager Creek entered discussions with Del Monte and considered selling its business.
Hilco Receivables was brought in by Sager Creek's investment banker and expedited the sale.
Hilco Receivables partnered with Del Monte by purchasing Sager Creek's then existing accounts receivable while Del Monte purchased the remainder of the Sager Creek business.
By acting quickly, Hilco Receivables provided more than the needed capital to facilitate the transaction on an expedited basis. Del Monte trusted Hilco Receivables to treat its customers with the same concern in collecting accounts as Del Monte would treat such customers. In moving quickly and providing quality customer service, Hilco Receivables helped Del Monte consummate this important transaction.
Contact us today to learn how we can help to deliver practical solutions for your businesses.
Jay Stone is one of the foremost experts in the Accounts Receivable industry. Jay's visionary leadership, operational experience and analytical expertise result in exceptional performance for his customers over the years. Jay is an innovator delivering new ideas and strategies that can consistently deliver results for your business superior to your competition.