LaSalle Brands enters
into funding agreement
Nov 30, 2007 8:36 AM
LaSalle Brands Corp has entered into a funding agreement with Grammar Capital LLP. As per the agreement, Grammar Capital will assist the company in raising about $50 million through a combination of equity and debt financing. The money will be used to complete planned acquisitions with various ice cream distribution companies. LaSalle has already entered into a purchase agreement with LaSalle Brands Inc and has letters of intent with other related companies.
The principals of London-based Grammar Capital have many years of experience in raising capital for companies with strong business models and management teams.
LaSalle ice cream is traditionally sold in pint-size containers and distributed to markets in the five boroughs of New York. It ranks as the third-largest pint brand ice cream in New York City, and it outsells many national brands in its immediate markets.
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