JEDA bonds fund The Muffin Mam, Inc.’s expansion into Laurens County
June 18, 2019
The Muffin Mam, Inc. is leveraging a $10 million tax-exempt industrial revenue bond issue through the South Carolina Jobs-Economic Development Authority (JEDA) to open a second location for producing wholesale bakery products.
The bonds will help finance the company’s purchase and equipping of a spec building in the Hunter Industrial Park in Laurens. The new facility will join The Muffin Mam, Inc.’s current bakery in Simpsonville, which currently has 90 existing employees and anticipates the creation of 114 new positions upon completion of the new facility.
The Muffin Mam, Inc., a portfolio company of Azalea Capital of Greenville, SC, is a Global Food Safety Initiative-certified wholesale bakery. With customers that include some of the world’s largest retailers and food service outlets, the company specializes in a variety of innovative baked goods and features a research and development department constantly testing out new recipes.
“JEDA financing is critical to helping us expand our ability to accommodate growing demand from retail grocery and food-service channels alike. We’re excited about our future as we expand from Greenville County into Laurens County,” said Dewey Armstrong, Chief Executive Officer at The Muffin Mam, Inc.
“The Muffin Mam, Inc. has grown dramatically from its origins as a café in Greenville that opened in 1990. We’re pleased and privileged to have a part in helping this exciting firm execute its ambitious plans,” said Kathy McKinney, Bond Counsel with the Haynsworth Sinkler Boyd, P.A., in Greenville.
“Favorable financing is an imperative to industrial growth in South Carolina. We’re excited to be able to help The Muffin Mam, Inc. continue its upward trajectory,” said Harry A. Huntley, CPA, Executive Director of JEDA in Columbia.
