ROCKLAND, Mass. (December 9, 2019) – Rockland Trust announced it closed a $30 million revolving line of credit to Milton’s Distributing Co., Inc., a national wholesale distributor and importer of wine, beer and spirits. The loan will be used to refinance existing senior debt and provide working capital to support the company’s continued expansion.
“We’re excited to partner with Milton’s Distributing Co. to support their business needs and provide additional liquidity for future growth,” said Daniel J. Landers, Senior Vice President and Executive in Charge of Asset Based Lending at Rockland Trust. “Milton’s is a leader in their industry and they have built a top notch team, platform and business. We believe we are the perfect partner for this growing company.”
Melissa Gordon, President of Milton’s commented, “We are grateful for the opportunity to partner with Rockland Trust. We are well positioned for continued growth and diversification across all facets of our business and having an institution like Rockland Trust, with expertise in our field, will enable us to execute on our strategic plan.”
Milton’s Distributing Co., Inc., based in Mansfield, MA, is a wholesale distributor and importer of wine, beer, and spirits to specialty retailers. The company’s primary distribution facilities are in MA and NJ. Unlike traditional wholesale distributors, Milton’s works with its customers to take vineyard and winery brands to market (known as control-label) and additionally provides private label wine distribution for large national retail customers. Milton’s also provides logistics and licensed freight forwarding services for customers in the alcoholic beverage industry through third-party affiliate Gordon Logistics, which is based in Edison, New Jersey.