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EDC and Taste of Nature Direct Lending case study (PDF)

EDC’s Direct Lending program supports Taste of Nature Foods’ investment in operational infrastructure

Taste of Nature Foods Inc. (TONFI), a Canadian manufacturer, specializes in producing a variety of healthy snacking products. TONFI produces for its own brands as well as private-label brands and contract manufacturing customers. It exports to more than 20 countries, including the United States, the United Kingdom, Europe, Indo-Pacific and the Middle East.

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Challenge: Difficulty in accessing capital to drive growth while combatting post-pandemic challenges 

Facing challenging times post-COVID-19, TONFI needed additional capital to continue driving its rapid growth and to further scale its operations, which had also been impacted by severe post-pandemic supply chain issues.

We have genuinely felt for a period of years that EDC is very much in TONFI’s corner. What they can do for us varies from time to time, but we’ve definitely felt that they’ve been a very consistent, steady supporter and presence across multiple facets of our business and growth. The consistency and depth of EDC’s ongoing support is reassuring and incredibly positive.

Francis Cooke  —  CEO,  Taste of Nature Foods Inc.

How EDC helped 

Through EDC’s Direct Lending program, TONFI received a direct loan. This cash infusion was used to add new automated manufacturing equipment and expand its manufacturing footprint, increasing its production capacity while also widening its product mix and improving manufacturing efficiency. TONFI also invested in an upgraded security system for its facilities in Markham, ON.  

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Results 

With EDC’s assistance, TONFI obtained access to additional capital to scale its production operations. Its exports have grown from 40% to 80% of its revenue mix in the past three years and it successfully secured an enhanced revolving line of credit with a partner financial institution. Most importantly, with EDC’s consistent support, TONFI’s annual revenue grew by almost 300% in the past three years.    


 


 


 

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