Business New Brunswick

Working capital loan for Dieppe food processor preserves 135 full-time jobs (10/01/22)

NB 84

Jan. 22, 2009

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(Multimedia)

DIEPPE (CNB) - The provincial government is providing a term loan to help Bonté Foods Ltd. increase production efficiency at its Dieppe manufacturing facility and maintain 135 full-time jobs. Business New Brunswick Minister Victor Boudreau made the announcement today.

"We are proud to provide this very reputable company with the working capital it needs to make cost-saving changes to its production line and ensure a measure of financial security to 135 hard-working New Brunswickers," said Boudreau.

Headquartered in Dieppe, Bonté Foods Ltd. is a processor of retail and restaurant food products, including prepared in-flight meals for the Canadian airline industry. Interprovincial exports account for about 85 per cent of the company's sales.

The company, established in 1981, has four divisions consisting of meat, bakery, soups and sauces, and airline meals. The company has a New Brunswick payroll of $4 million.

The province has agreed to provide the company with a repayable term loan of $750,000 to assist with its working capital and implement measures to improve efficiency and profitability. The loan will also safeguard 135 food processing jobs at the company's production facility in Dieppe.

Mike Whittaker, chief executive officer, Bonté Foods Ltd., said the provincial loan is a vote of confidence in New Brunswick's prepared food industry.

"We are grateful for this investment in our company," Whittaker said. "This loan will give us the flexibility we need to achieve our production goals, and it also allows us to continue supporting more than a dozen local suppliers of raw materials for our food products and packaging needs."

10/01/22

MEDIA CONTACT: Ashley Bursey, communications, Business New Brunswick, 506-461-0942, ashley.bursey@gnb.ca; Mike Whittaker, chief executive officer, Bonté Foods Ltd., 506-867-0737.

10/01/22