Growve raises $ 225 million in funding

to grow, a St. Petersburg, Florida-based brand aggregator specializing in the acquisition, operation and growth of world-class omnichannel brands in the supplements and active nutrition, home and leisure industries, Beauty and Personal Care, Lifestyle Food and Pet Care and Nutrition, raised an additional $ 205 million in financing after modifying and increasing its existing senior credit facility.

Nine financial institutions led by Truist Bank, Wells Fargo Bank, NA and Bank of America, NA, participated in the deal, which follows the announcement of a $ 175 million credit facility six months earlier for a total borrowing capacity of up to $ 380 million.

Immediately prior to this senior loan expansion, Growve also finalized the closing of a $ 20 million equipment line through Truist to fund its organic growth and vertical integration strategy.

Led by CEO Dave Bunch, Growve is a brand aggregator specializing in the acquisition, operation and growth of world-class brands in the supplements and active nutrition, home and leisure, health and wellness industries. beauty and personal care, lifestyle foods and pet care and nutrition. Its team of over 500 people derives its value from brand aggregation and growth through in-house expertise in market management, digital marketing, creative services, innovation, distribution, retail, manufacturing, chain management. procurement, regulation and accounting. The company’s portfolio includes 26 brands and hundreds of unique products.

FinSME

05/01/2022

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