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AFC Gamma Provides Senior Secured Credit Facility to Grön Edibles

May 24, 2024, 07:58 AM
Filed Under: Cannabis
Related: AFC Gamma, Cannabis

AFC Gamma provided a senior secured credit facility to Grön Holdings Inc., one of North America’s largest producers of adult-use cannabis-infused edibles. Grön intends to use the proceeds from the new credit facility to expand its business into new states.

“We are excited to support Grön in catalyzing the next phase of the company’s growth as they expand further into the East Coast and solidify their position as a leading edibles provider,” said Daniel Neville, AFC Gamma’s Chief Executive Officer. “This transaction demonstrates our ability to provide flexible and tailored financing solutions that meet the unique requirements of our borrowers at all stages of their growth, while also broadening and diversifying AFC Gamma’s portfolio.”

Christine Apple, Grön's Founder and Chief Executive Officer, concurred, adding, "We are pleased to partner with AFC Gamma as we expand Grön's multi-state presence. We are impressed by the flexible financing solution presented to us, the speed in which they were able to execute, and the team's professionalism that made the process seamless and efficient. With the additional capital, we look forward to continuing to execute on our business plan and are specifically excited about our expansion to the East Coast.”

Grön Edibles was founded by Apple in 2015 in Oregon following her curiosities about gummy and chocolate with the desire to fill a market need in high-quality cannabis-infused edibles. Women-founded and led, Grön has since expanded into multiple product lines and is available in select states nationally.

AFC Gamma will hold the entire credit facility, which consists of a first-lien term loan secured by all assets of Grön. AFC Agent LLC served as agent for this transaction. SSC Advisors acted as Financial Advisor to Grön Holdings with respect to this transaction.

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