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Wells Fargo Capital Finance Agents Debt Refinancing for Inventure Foods

November 24, 2015, 07:18 AM

Inventure Foods, Inc., a leading specialty food marketer and manufacturer, announced that the Company has completed a $135 million debt refinancing that includes a new five-year, $50 million senior-secured revolving credit facility and a new five-year $85 million senior secured term loan facility, both of which mature on November 17, 2020.

"We are very pleased to announce the successful completion of our new credit facilities," said Terry McDaniel, Chief Executive Officer of Inventure Foods. "We believe these facilities, in conjunction with our cash flow from operations, will adequately meet our capital requirements for future growth over the next several years. We appreciate our lenders' confidence in Inventure Foods as we continue to execute our long-term growth strategy."

Wells Fargo Capital Finance acted as administrative agent, book runner, and sole arranger for the asset-based revolving credit facility. An affiliate of Benefit Street Partners, LLC, acted as administrative agent for each member of the Lender Group under the Term Loan Credit Agreement. William Blair acted as the Company's exclusive financial advisor on the transaction.

With manufacturing facilities in Arizona, Indiana, Washington, Oregon and Georgia, Inventure Foods, Inc. is a marketer and manufacturer of specialty food brands in better-for-you and indulgent categories under a variety of Company owned and licensed brand names, including Boulder Canyon Foods™, Jamba®, Seattle's Best Coffee®, Rader Farms®, TGI Fridays™, Nathan's Famous®, Vidalia Brands®, Poore Brothers®, Tato Skins®, Willamette Valley Fruit Company™, Fresh Frozen™ and Bob's Texas Style® and Sin In A Tin®.

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