Pacific Mercantile Bank provided a revolving line of credit to Quality Candy Company, a manufacturer and distributor of high quality hard candy and soft sugar candy. Along with the financing, Quality Candy utilizes a full suite of Pacific Mercantile Bank’s depository products and treasury management services.
In addition to a leading position in the foodservice market, Quality Candy produces and sells two distinct lines of branded products: King Leo®, the oldest continuously sold brand of peppermint candy, dating back to 1901; and Gilliam®, a brand of colorful stick candy and high quality hard candy dating back to 1927. Combined, the two brands make Quality Candy the leading manufacturer of stick candy in North America. Quality Candy also provides contract manufacturing services to leading marketers of both mass and niche product lines.
“For years we worked with a large national bank, but had become increasingly dissatisfied with the level of service and responsiveness as our financing needs evolved,” said Laurie Redmond, President & CEO of Quality Candy. “As we evaluated new banking relationships, we were very impressed with Pacific Mercantile Bank’s experience in the food and beverage industry, which enabled it to truly understand our business and structure a customized credit facility that meets our borrowing needs. The valuable insight that Pacific Mercantile provided through their Horizon Analytics® tool was also a key differentiator from the other banks we considered. With the new credit facility in place, we have the ability to continue executing on our strategies to further grow and diversify our business.”
“Quality Candy is a truly inspiring entrepreneurial success story,” said Lisa Wright, Senior Vice President and Regional Manager at Pacific Mercantile Bank. “From starting the business out of a small apartment in 1986, Quality Candy has grown into one of the leading candy manufacturers in the world with a customer list that includes most of the largest and best-known retailers and companies in the foodservice industry. We are excited to help support the continued growth of the company in the years ahead.”