Meat snack brand Chomps secured a $100 million revolving line of credit with Wells Fargo.

The credit will provide Chomps with increased financial flexibility to support continued expansion across all aspects of its business. These funds will be strategically allocated to expand the company’s production capacity and capabilities, expand operations and support ongoing retail programs and marketing initiatives.

"Our relationship with Wells Fargo is an important step in securing for Chomps the resources necessary to meet the rapidly increasing demand for our products," said Tim Bosslet, CFO of Chomps. "This financing will allow us to scale our operations and continue to serve our growing customer base effectively, while remaining committed to our high standards."

To further meet strong consumer demand, Chomps announced plans last fall for a new 300,000 square-foot manufacturing facility in Mexico, Missouri, slated to open in 2025. This strategic expansion, in collaboration with their long-standing partner Western Smokehouse Partners, will increase Chomps' production capabilities.

"We are excited to support Chomps as they capitalize on the significant growth opportunity within the protein snack category," said Brett Rausch, managing director and market sales executive for Wells Fargo's Commercial Bank.

"Our goal is to provide our clients with financial solutions that support their business objectives, and this revolving line of credit will offer Chomps the agility they need to manage their growth within the dynamic protein sector," said John O’Shea, executive director for Wells Fargo’s Food and Agribusiness sector.

Source: Chomps