Also subsequent to the third quarter, the company amended its credit agreement with City National Bank in October 2012, increasing the amount available under the revolving facility to $50,000,000 through Sept. 30, 2015. City National Bank is the Lead Arranger and Administrative Agent under the amended credit agreement with a second lender added to the facility. The amended credit agreement also includes an accordion feature allowing the company to request an increase in the credit commitment up to an additional $25,000,000.
On Oct. 26 2012, Glacier announced the completion of the acquisition of the assets of the Aqua Fill water vending business, which includes approximately 1,600 water vending machines in operation mainly in the western U.S., bringing the total number of machines in operation to more than 23,000.
With more than 23,000 machines located in 47 States throughout the United States and Canada, Glacier is the leading provider of high quality, low-priced drinking water dispensed to consumers through self-service bottled water machines located at supermarkets and other retail locations.
Statements in this announcement that are not purely historical are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. A copy of the company’s audited financial statements for the year ended Jan. 1, 2012 are available on the company’s website, www.glacierwater.com, or can be obtained by contacting Steve Stringer at 760-560-1111.