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EXIM Helps Oregon Company Export $14 Million of Natural Foods in Past Five Years

Exporter/Customer: 
Bob’s Red Mill Natural Foods
Export Destinations: 
60+ Countries
EXIM Bank Product: 
Export Credit Insurance

Bobs

Bob’s Red Mill Natural Foods, Inc., in Milwaukie, Oregon, a small business producer of a wide range of grain products and other natural foods, was named the 2018 Exporter of the Year by EXIM at its 2019 Annual Conference.

Established in 1978 in Milwaukie, Oregon, Bob's Red Mill Natural Foods, Inc., (Bob’s Red Mill) is a miller of stone-ground whole grains and a leader in nutritious, organic, and gluten-free foods. Their mission to promote “whole grains for every meal of the day” is backed by a diverse line featuring more than 400 products sold worldwide, including whole grains, flours, cereals, baking mixes, beans, seeds, and more.

Over the past 40 years, Bob’s Red Mill has expanded from a five-acre farm to a 325,000-square-foot headquarters with a laboratory and manufacturing plant, plus a large distribution center. Today, the company has more than 500 employees. In 2010, on his 81st birthday, Founder and President Robert G. Moore, or Bob as he is known, created a qualified Employee Stock Ownership Plan, thereby making all of them employee-owners.

EXPORT CHALLENGE

With worldwide sales, Bob’s Red Mill was concerned about foreign buyer nonpayment due to the many commercial and political risks of international trade.

EXIM SOLUTION

EXIM gives U.S. exporters the confidence to sell to customers in new international markets and expand sales in existing markets. EXIM insurance policies cover 85 to 95 percent of the company’s sales invoice amount in the event of nonpayment by a foreign buyer. EXIM-insured foreign receivables can be assigned to a lender and can also function as collateral to increase the exporter’s borrowing capacity.

RESULTS

Bob’s Red Mill has used EXIM’s insurance policies to support its exports, now being shipped to more than 60 countries. The agency has supported nearly $15.5 million of the company’s exports during the 2014 to 2019 period. EXIM broker Heffernan Insurance facilitates the EXIM policies.

 

“EXIM’s support has been indispensable in the growth and success of Bob’s Red Mill Natural Foods. Our nutritious product line is in high demand by health-minded consumers across the globe, and EXIM has made it possible for us to forge strong economic relationships with international merchants eager to fulfill that demand.”
Dennis Vaughn, CEO