Barkaat to invest in new products, expand operations

SHARE Barkaat to invest in new products, expand operations

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
Some history to buffalo in Wolf Lake combined with some family history in today’s column; plus notes on a lakefront sturgeon, Chicago’s white squirrels and the lack of non-lead (steel) shot for dove hunting, and the Stray Cast.
The top two senior offensive lineman in the state are Notre Dame-bound Charles Jagusah of Rock Island Alleman and Alabama recruit Miles McVay of East St. Louis. But it’s a position group that’s loaded with Chicago-area talent as well.
The car was later found in the West Woodlawn neighborhood about 11 miles away and it was not known if the carjacker was hit, according to Chicago police.
The man, 43, was with a group of people near the 2600 block of North Cannon Drive when he slipped and fell into the water early Wednesday.
She-Hulk’s look adds to the campy fun of this borderline silly but always entertaining chapter in the never-ending Marvel saga.