TORONTO–(BUSINESS WIRE)–FrontWell Capital Partners Inc. today announced the closing of a US $7.4 million secured credit facility with Savor Street Foods Inc., a Pennsylvania-based food manufacturer producing an array of health‐conscious pretzel snacks.
The facility, comprised of a revolver and a term loan, will be used by SSF to refinance its existing debt, as well as to provide improved liquidity to help meet strong customer demand and support the Company’s growth initiatives, including new brand and product launches.
“We are excited to support Savor Street Foods, the pioneer in health-conscious snacks, as it capitalizes on its large and growing market opportunity,” said Patrick Dalton, Chief Executive Officer of FrontWell. “The company has built strong momentum with its customers since inception, and we’re thrilled to provide a tailored financing solution to help it reach its next stage of expansion at this pivotal moment in time.”
“The demand for healthy snack options and brands that give back to the community has soared since the pandemic, and we are pleased to partner with FrontWell to accelerate our business and grow with these strong industry tailwinds,” said Scott Carpenter, Co-Founder, President and CEO of Savor Street Foods. “We’ve found a true partner in the FrontWell team, whose flexible and collaborative approach will help take us to the next level.”
About FrontWell Capital Partners
Headquartered in Toronto, FrontWell Capital Partners provides transitionary senior debt financing to middle-market companies in the United States and Canada. With committed seed capital of more than USD $350 million, FrontWell offers financing solutions, including asset-based (ABL) and cash flow loans, to maximize liquidity support for borrowers that are looking beyond traditional sources of capital. FrontWell’s rigorous approach to origination, underwriting and risk management generates current income while prioritizing the preservation of principal over the chase for yield. FrontWell partners with companies across several industries that display balance sheet capacity and require liquidity to support a transition in their business, including turnarounds, restructurings, acquisitions and changes in ownership or control. For more information, please visit frontwellcapital.com.
About Savor Street Foods Inc.
Savor Street is a family based and mission driven brand. At Savor Street we believe that every ingredient counts and so does every individual. Our mission is to create innovative and delicious snacks that inspire sharing, caring and hope for a world where all people are accepted and included despite their differences. As a part of this mission, our organization employs and empowers adults with autism to live to their fullest potential.