HOUSTON – Newberry Specialty Bakers, Inc. reported March 15 that it had changed its stock symbol on the NASDAQ and also gained a $1 million credit facility.
“Our new symbol, NBRY, will foster a stronger, consistent brand for the company,” said Bill Evans, chief executive officer of Houston-based Newberry Specialty Bakers. “Fully rebranding as Newberry Specialty Bakers poises marketing and sales in the strategic direction of growth.”
The company formerly was known as Coastal Foods, Inc. and traded under the CSFD symbol. Changing the company name to Newberry Specialty Bakers, Inc. last November marked the beginning of a rebranding initiative to better represent the specialty line of baked foods the company provides to grocery and food service providers in the United States.
The $1 million credit facility comes from LSQ Funding Group, which provides accounts receivable financing to growing companies in the United States.“These funds will help us accelerate our purchase of equipment and inventory that’s critical to fulfilling new orders and keeping our growing list of customers happy,” said Howard G. Anders, president of Newberry Specialty Bakers.