Daily News: January 7, 2013

WFCF, Garrison Complete Apple & Eve Refinancing


Garrison Investment Group and Wells Fargo Capital Finance completed a refinancing of Apple & Eve, an independent juice company in the U.S. The refinancing was completed by ClearLight Partners, in partnership with management.

Garrison Investment Group provided a first lien senior secured term loan, and Wells Fargo Capital Finance provided an asset-based revolver, to support the refinancing of its existing senior credit facility.

“Apple & Eve has been a leader and innovator in natural juice products for 35 years,” said Rob Chimenti, director with Garrison. “We are excited to form a relationship and build trust with ClearLight Partners and Management.”

“Wells Fargo is pleased to begin our relationship with Apple & Eve through this new credit facility. We look forward to supporting the management team and ClearLight Partners and helping the company achieve its strategic objectives,” said Richard Schultz, managing director with Wells Fargo.

Gordon Crane, president and founder, added “Garrison and Wells Fargo understood the needs of our business and were thoughtful and creative in structuring appropriate credit facilities to help Apple & Eve continue to succeed.”