The Company is a leading private label manufacturer and co-manufacturer of shelf stable snack dips and packaged beverages.

The Company incurred operating losses as a result of manufacturing inefficiencies during a high-growth period, driven by the addition of new beverage products and new customers.

The Company added significant debt as it purchased new equipment to handle the new products and additional volume.

The operating losses and the capital investment left Berner undercapitalized and operating with very tight liquidity. Berner’s senior lender indicated its preference for Berner to obtain new financing.

FDP worked with management to define its strategic initiatives, which included:

‒Returning to sustainable profitability and reducing  debt to enhance its ability to secure new senior debt financing;

‒Measured expansion, given profitability goals and limited borrowing capacity; and

‒Implementing lean manufacturing principles to reduce production overhead.

FDP worked with management to implement tactical plans that improved pricing and margin strategies, reduced overhead costs, and reduced inventory investment by revising floor stocking programs for certain customers.

The Company increased year-over-year net income by over $3.5 million.

The Company reduced inventory by over $2 million within twelve months.