Packaging

New Stream Capital Provides IP-Based Financing to Snapware

Wednesday 20. August 2008 - New Stream Capital announced today that it has provided financing to Snapware, a leading manufacturer of food and home-storage containers. Secured by Snapware's intellectual property, accounts receivable and inventory, the $8.5 loan will provide working capital to support the company's continued growth.

“Snapware is a growth company with strong intellectual property, a track-record of creative designs and steady performance in sales and marketing,” said Perry Gillies, president of New Stream Capital. “We are proud to support the company’s continued expansion as a strong consumer brand with a national retail footprint. Importantly, this deal continues a series of New Stream Capital’s IP-based transactions that have included loans to distinctive brands such as Paul Frank Industries.”
Established in 1994, Snapware is a fully integrated (from raw materials to finished parts) U.S.-based manufacturer. Snapware products are sold nationwide at leading retailers including Bed Bath & Beyond, Costco, Jo-Ann Stores, Kohl’s, Kroger, Linens-N-Things, Lowe’s, Petco, PetSmart, Sears, Target and The Container Store.
Snapware specializes in storage and organization solutions for the home and kitchen. The company’s storage brands include Snap ‘N Stack, Smart Store, mods, GlassLock, Airtight Canisters and Snap ‘N Serve.