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Ready Pac Secures Financing for Plant Improvements

IRWINDALE, Calif. -- Ready Pac here said it has secured financing to upgrade and expand production capacity across its manufacturing network in the United States.

The company has received $25 million in financing through a prominent investment bank to upgrade and expand production capacity at its four large and strategically dispersed plants that are at the heart of Ready Pac's operations.

As previously announced in the plant consolidation plan in May, each of these plants was slated for upgrading to add production capacity to better serve current and future market demand and improve the company's ability to provide overnight delivery to the majority of the North American market.

The four plants are located in Irwindale; Florence, N.J.; Plymouth, Ind.; and Jackson, Ga. Significantly, each plant will be capable of responding to marketplace changes and serving both retail and foodservice customers with Ready Pac's award-winning, innovative fresh-cut salads, fruit, complete-meal salad bowls, and convenience vegetable products.

Larry Kern, Ready Pac's president and c.e.o., said the financing package allows the company to "achieve our vision more rapidly and deliver the quality, innovation, and service levels required by our customers and consumers. The plant upgrades, along with our recent executive additions, will solidify our strategy of profitable growth across all our categories."

With fresh-cut processing facilities across the United States, Ready Pac's salads, fresh-cut fruit, and vegetables are distributed in supermarkets and restaurant chains across North America.
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