Laoban lands credit line to fund 8x growth in freezer aisles
What's the deal? Laoban DumplingsDealroom has a profile for this one. Try Dealroom → has secured an asset-backed line of credit from Assembled Brands, an asset-based lender focused on high-growth consumer packaged goods (CPG) businesses. The frozen food brand — known for Asian dumplings, bao buns, and lo mein — will use the facility to fund its national retail rollout.
Why now? Laoban posted 8x growth in 2025 and has run ahead of schedule into early 2026. That expansion has pushed it onto shelves at CostcoDealroom has a profile for this one. Try Dealroom →, TargetDealroom has a profile for this one. Try Dealroom →, Whole Foods MarketDealroom has a profile for this one. Try Dealroom →, and Sprouts Farmers MarketDealroom has a profile for this one. Try Dealroom →.
What's the endgame? National grocery placement creates a working capital squeeze: brands pay manufacturers upfront for large inventory builds while waiting on wholesale distributors to pay. The credit line, secured against Laoban's receivables and inventory, converts that tied-up capital into immediate liquidity for continuous production.
The structure carries no lockboxes, no personal guarantees, and minimal covenants, and includes an accordion mechanism that expands the line as purchase orders and store counts grow.
Laoban began when founder Patrick Coyne discovered dumpling shops while teaching English in China. The brand pairs Chinese culinary traditions with recipes developed alongside Michelin-recognised chef Tim Ma.
What they're saying: "Entering this phase required a financing partner who truly understood the working capital mechanics of frozen CPG," said Joe Stilphen, chief financial officer of Laoban. "Assembled Brands stood out by offering a scalable structure that respects our autonomy."
The signal: Fast-growing CPG brands are increasingly turning to asset-backed debt rather than equity to fund inventory-heavy expansion — preserving ownership while scaling onto national shelves.
Read more: sfnet.com
Image credit: Brett L.
