ROSEVILLE, MICH. — Paramount Baking Co., a producer of flatbreads, has received approval from the Michigan Strategic Fund for up to $1,063,167 in collateral support for a new $2,130,596 commercial loan provided by First State Baking, according to Macomb Daily.
The company said it plans to use the funds to expand the business to support increasing sales demand, including a larger contract with Kroger and a new contract with Meijer.
Founded in Detroit in 1914, Paramount was purchased by its current owner in 1986 and expanded to Roseville. The company makes and bakes Greek and Lebanese Pita in white, multigrain and wheat varieties. The pitas are produced in baby, square and round sizes.In addition to Kroger, Paramount serves Vince and Joe’s and Holiday Markets, along with other specialty markets.