BOULDER, Colo. — Sunflower Farmers Market here yesterday said it had raised $35 million in new financing, including a $30 million, five-year loan package through Fifth Third Bank and a $5 million equity investment from an existing investor, Pacific Corporate Group.
The company said it has opened seven new stores in four states in the past year, and increased sales by 50%. Sunflower, which currently operates 27 locations, projects having a network of 50 or more locations by 2013.
"We're very excited by our new partnership with Fifth Third Bank and our ongoing relationship with the Pacific Corporate Group," said Mike Gilliland, chief executive officer, Sunflower. "Our value-priced healthy and natural offerings, along with our green efforts, seem to resonate well with consumers. We foresee continued growth and success, and hope to be sustainable partners for all current and future investors."
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