Growve, a St. Petersburg, Fla.-based brand aggregator specializing in acquiring, operating and growing world-class omnichannel brands in the supplements & active nutrition, home & leisure, beauty & personal care, lifestyle foods, and pet care & nutrition verticals, raised an additional $205m in funding after amending and upsizing its existing senior credit facility.
Nine financial institutions led by Truist Bank, Wells Fargo Bank, N.A., and Bank of America, N.A., participated in the arrangement, which followed a $175m credit facility announcement six months earlier for a total borrowing capacity of up to $380m.
Just prior to this expansion of the senior loan, Growve also completed a $20m equipment line closing through Truist in order to fund its organic growth and vertical integration strategy.
Led by CEO Dave Bunch, Growve is a brand aggregator specializing in acquiring, operating and growing world-class brands in the supplements & active nutrition, home & leisure, beauty & personal care, lifestyle foods, and pet care & nutrition verticals. Its team of 500+ derives its value from aggregating brands and driving growth through in-house expertise in marketplace management, digital marketing, creative services, innovation, distribution, retail sales, manufacturing, supply chain management, regulatory and accounting. The company’s portfolio includes 26 brands and hundreds of unique products.
FinSMEs
05/01/2022