Bridge Bank Extends $25,000,000 Credit Facility to Health-Ade
December 01, 2020
Costa Mesa, Calif.
Bridge Bank today announced it has extended a $25,000,000 credit facility to Health-Ade. Founded in 2012 and based in Los Angeles, Health-Ade is an organic beverage company, selling its beverages in more than 35,000 retailers nationwide, including Whole Foods, Target and Publix. The new credit facility will be used to support growth and expansion initiatives.
“Bridge Bank was able to give us the structure and flexibility we were seeking in a lending partner,” said Gary Cooperman, chief financial officer at Health-Ade. “We had the ability to craft a tailored financial solution that truly worked for us.”
“We are pleased to work with the team at Health-Ade and to support them in their growth and expansion initiatives,” said Mark Breneman, senior vice president in Bridge Bank’s Technology Banking Group. “We look forward to watching Health-Ade’s continued strong growth and being there to support them.”
About Health-Ade Kombucha Health-Ade creates feel good bubbly beverages with an emphasis on gut health that inspires people to follow their gut! The brand was founded in 2012 in the Los Angeles farmers’ markets with their flagship product, Health-Ade Kombucha. The high quality, organic kombucha continues to be a top performing brand and leads growth in the kombucha category. In 2020, the company launched two new lines, Health-Ade Booch Pop, a new take on soda formulated with healthy acids from fermentation, prebiotics, and minerals targeted to aid gut health and Health-Ade PLUS, an adaptogenic kombucha crafted with Health-Ade’s original kombucha and additional functional ingredients associated with desired feelings and need states. All Health-Ade products are made with the highest quality of ingredients, like cold pressed juice from organic produce, which results in a delicious, smooth, bubbly, and naturally low sugar drinks with gut health functionality. The brand is currently available in over 35,000 retail locations nationwide, including Whole Foods, Sprouts, Safeway / Albertsons, Kroger, Publix, Target. Health-Ade’s growing roster are certified organic, Non-GMO, vegan, gluten-free. For more information, visit health-ade.com.
Bridge Bank, a division of Western Alliance Bank, Member FDIC, delivers relationship banking that puts clients at the center of everything. Founded in 2001 in Silicon Valley, Bridge Bank offers a full spectrum of tailored business banking solutions throughout the Bay Area and has specialized expertise, focused on life sciences and technology and innovation companies, at every stage in their life cycle, through its offices in major tech hubs across the country. Bridge Bank also serves the private equity and venture capital communities. Part of top-performing Western Alliance Bancorporation, with more than $65 billion in assets, Bridge Bank has the reach, resources and deep industry knowledge that make a difference for customers.