Barkaat to invest in new products, expand operations

SHARE Barkaat to invest in new products, expand operations
martellus_1.jpg

Barkaat Foods has raised $2 million to develop new product lines and expand existing operations.

The Chicago-based company processes lamb, goat, veal and beef according to Zabiha Halal standards. Barkaat, 3810 S. Halsted St., expects to double its staff of 40 people in the next 12 months.

Barkaat raised the money through a Shariah-compliant credit facility from FirstMerit Corp. and Prairie Street Capital with the help of Sikich Investment Banking. Shariah law prohibits Muslims from paying interest, so Barkaat formed a partnership with FirstMerit and Prairie Street Capital.

“We were able to take advantage of the favorable debt environment while respecting the religious laws that are at the foundation of our business,” said Mohammad Imran Khan, chief strategy officer of Barkaat Foods.

“Identifying the right partnership required dedication and flexibility from everyone involved in order to secure Shariah-compliant growth capital for Barkaat,” said Christopher Geier, partner-in-charge of Sikich Investment Banking. “It’s particularly meaningful to help a local, family-owned company pursue its strategy to provide a valuable product to more consumers across the country.”

The Latest
A news release from NU Educators for Justice in Palestine, Student Liberation Union and Jewish Voice for Peace said the camp is meant to be “a safe space for those who want to show their support of the Palestinian people.”
Powerhouse showcase is part of a weekend of music events planned for Grant Park’s Festival Field great lawn, which also features previously announced sets by Keith Urban, the Chainsmokers, the Black Keys and Lauren Alaina.
Last year, Black and Brown residents, Muslim Americans, Jewish Americans, members of the LGBTQ+ community and others were targeted in hate crimes more than 300 times. Smart new policies, zero tolerance, cooperation and unity can defeat hate.
The city is willing to put private interests ahead of public benefit and cheer on a wrongheaded effort to build a massive domed stadium — that would be perfect for Arlington Heights — on Chicago’s lakefront.
Following its launch, the popular Mediterranean restaurant is set to open a second area outlet this summer in Vernon Hills.