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Comvest Credit Partners Provides $105MM Senior Credit Facility to Fat Tuesday

July 22, 2022, 07:54 AM
Filed Under: Beverages

Comvest Credit Partners acted as Administrative Agent in providing a $105 million senior secured credit facility to Fat Tuesday, one of the nation’s largest off-premise specialty beverage providers. The Financing will be used to fund the Company’s strategic acquisitions and business growth.

Founded in 1983, Fat Tuesday sells a wide assortment of to-go frozen specialty beverages. The New Orleans-based company now has more than 80 corporate and franchised retail locations across 11 states and three countries, predominantly in warm geographies, tourist destinations, entertainment districts and outdoor malls. Patrons can mix and match flavors or choose from one of Fat Tuesday’s signature combinations.

“Comvest has a demonstrated track record of developing bespoke credit financing solutions that successfully support rapidly growing niche food and beverage brands like Fat Tuesday,” said Dan Lee, Partner, at Comvest Partners. “We are pleased to bring our sector expertise and underwriting ability to help Fat Tuesday meaningfully accelerate new unit expansion in domestic and overseas markets.”

“Comvest is pleased to collaborate with Garnett Station Partners on financing another top-tier consumer-branded business,” said Nick McClelland, Managing Director, at Comvest. “We look forward to further building our relationship with Fat Tuesday’s leadership team and Garnett Station Partners as the company continues to build locations and a robust consumer following for its original frozen drink concepts.”

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