First Citizens Bank announced that CIT Northbridge Credit, as advised by First Citizens Institutional Asset Management, served as administrative agent on a $75 million revolving credit facility for Stella & Chewy’s.
Headquartered in Oak Creek, WI, Stella & Chewy’s provides natural pet food with an emphasis on raw nutrition, palatability, safety and all natural ingredients. Its dog and cat products include freeze dried dinner patties and meal mixers, frozen patties and morsels, baked and extruded kibble, stews, broths and treats. The financing will be used to support working capital needs and other corporate purposes.
“Our company continues to experience growing demand from customers for our premium natural pet food products,” Dean Nolden, CFO of Stella & Chewy’s, said. “We appreciated the expertise of the CIT Northbridge team in arranging this financing as we continue to grow to support our customers.”
“Stella & Chewy’s is well positioned for continued growth and we were pleased to work closely with them to arrange this financing to help advance their business objectives,” Neal Legan, who leads the team that advises CIT Northbridge, said.
