Real Good Food (RGF) Looks to Make Real Enhancements To Manufacturing Capacity: Announces Refinancing

PRISM Consumer Products Index company The Real Good Food Company, Inc. (RGF) who is a prominent player in the health and wellness frozen and refrigerated foods sector, announced the amendment of its existing financing arrangement with PMC Financial Services Group,  and the securing of a new $60M term loan from Emblem Investments Fund I, LP. Out of the loan proceeds, $8M will be used to repay the PMC financing, with the remaining $52M allocated for general corporate purposes and transaction costs.

These financial moves are aimed at enhancing the Company’s manufacturing capacity and supporting key corporate initiatives, positioning it for sustained, profitable growth. As part of the agreement, the Company also issued 19.99% of its outstanding equity to Emblem, in the form of Class C Units of its subsidiary, Real Good Food LLC. These units are exchangeable for the Company’s common shares, reflecting a shared commitment to long-term value creation.

Tim Zimmer, CEO of Real Good Foods, commented: “We are excited to announce these transformational transactions, which provide substantial liquidity, allowing us to make critical investments in our supply chain and strategic projects. This will strengthen our supply chain to meet the increasing demand for our products and enhance customer service, laying the groundwork for long-term profitable growth. These deals highlight the confidence our lenders have in the business and its future potential.”