FREE MEMBERSHIP Includes » ABL Advisor eNews + iData Blasts | JOIN NOW ABLAdvisor Gray ABLAdvisor Blue
 
Skip Navigation LinksHome / News / Read News

Print

PNC Bank Leads $210MM in Acquisition Financing for Haggen, Inc.

April 01, 2015, 07:51 AM
Filed Under: Retail

PNC Bank announced a syndication of $210 million in senior secured revolving credit for grocery retailer Haggen, Inc., a portfolio company of Comvest Partners. PNC Capital Markets LLC syndicated the transaction as sole lead arranger and bookrunner, and PNC Bank is serving as administrative agent.

The company will use the funds to pay for the conversion of 146 acquired Albertsons and Safeway stores to Haggen branded stores and for ongoing working capital needs.

Based in Bellingham, WA, Haggen will operate more than 160 stores and 106 pharmacies in the Pacific Northwest, California, Nevada and Arizona following the acquisition.







Comments From Our Members

You must be an ABL Advisor member to post comments. Login or Join Now.