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First Citizens Bank Provides Credit Facility to Signature Brands

June 07, 2023, 07:35 AM

First Citizens Bank's Asset-Based Lending group, part of the CIT division, has provided a revolving credit facility to Signature Brands.

Headquartered in Ocala, Florida, Signature Brands is a leading provider of dessert decoration and seasonal celebration products under beloved household brands such as Betty Crocker, Cake Mate, Brand Castle, PAAS, Pumpkin Masters, and GiftPop. Proceeds from the financing will be used to refinance an existing facility and provide working capital for operations and growth opportunities.

“Signature Brands has outstanding relationships with many of the largest and most important retailers across North America,” said Chris Esposito, managing director and leader of the CIT Asset-Based Lending team. “We appreciated the opportunity to support their business needs with this financing and look forward to providing additional banking products to serve their ongoing financial needs.”

“The products made by Signature are household names across North America,” said Geoffrey Samuels, a director on the CIT Asset-Based Lending team. “We were pleased to leverage our expertise to meet their requirements.”

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