HOUSTON — Newberry Specialty Bakers, Inc., a leading provider of wholesale specialty baked goods to the grocery and food service industry, announces a change in the Company's stock symbol. The Company's common shares trade on the NASDAQ markets under the trading symbol of "NBRY" (NASDAQ: NBRY).
Bill Evans, CEO of Newberry Specialty Bakers, noted "Our new symbol NBRY will foster a stronger, consistent brand for the Company. Fully rebranding as Newberry Specialty Bakers poises marketing and sales in the strategic direction of growth." Part of the growth strategy is to better utilize working capital which provides the means to improve our business and grow shareholder value from current levels.
With a key direction of growth outlined, Newberry Specialty Bakers secured a $1M credit facility from LSQ Funding Group, L.C. (LSQ), one of the country's leading invoice financing providers for small and midsized businesses.
Howard G. Anders, President of Newberry Specialty Bakers, shared, "These funds will help us accelerate our purchase of equipment and inventory that's critical to fulfilling new orders and keeping our growing list of customers happy." The opportunity to work with LSQ Funding focuses the Company on growing Newberry Specialty Bakers' topline and profitability while strengthening the balance sheet.
"For two decades, we've been helping small business owners expand their businesses by ensuring they had a consistent source of liquidity available on demand," said Max Eliscu, founder and CEO of LSQ. "Our team of experts worked closely with Newberry Specialty Bakers and their bank client manager to structure a facility that fit the company's needs. We're happy to support their growth and passion for quality."
About Newberry Specialty Bakers
Newberry Specialty Bakers built the foundation of the bakery on three principles: home-baked quality treats, attention to detail and safety, and the development of a caring work environment. In 1990, the essence of what started in a tiny kitchen in Chicago still remains today. Newberry Specialty Bakers is recognized as a leader in winning taste panel reviews across the United States. Newberry Specialty Bakers' award-winning pastry chef, Ford Culbertson, and the team of bakers and distributors provide branded and private-label baked goods to well-known food service, retail groceries, and club stores.
Newberry Specialty Bakers' first priority is to provide quality products that comply with Global Food Safety Initiative (GFSI) standards. Newberry Specialty Bakers carries an SQF level 3 food safety certification, which is the highest in the industry.
For more information about the company and its private label and ready-to-merchandise baked goods, visit www.newberryspecialtybakers.com.
About LSQ Funding Group
LSQ Funding Group is one of the country's largest independent accounts receivable financing companies. Founded in 1996 in the Orlando area, LSQ provides specialized accounts receivable financing to growing companies throughout the U.S., offering competitive rates, customized financing arrangements, and personalized service to help them improve profitability and financial security. The company's proprietary accounts receivable technology enables accounts receivable financing at all levels, ranging from multi-million-dollar corporations to small businesses. For more information, please visit www.lsq.com.
Contacts
Newberry Specialty Bakers
Howard G. Anders
281-987-8985
handers@newberryspecialtybakers.com
LSQ Funding Group
Russ Stark
612-325-3969
rstark@lsq.com
Source: Newberry Specialty Bakers