Daily News: November 25, 2015

Wells Agents $135MM Inventure Foods Refi

Inventure Foods, a specialty food marketer and manufacturer, announced the company 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.

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 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.

“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.”