Daily News: January 17, 2014

WFCF Leads $55MM Facility for Evergreen Enterprises, Plow & Hearth

Wells Fargo Capital Finance, part of Wells Fargo & Company, announced it acted as sole lead arranger and bookrunner on a $55 million senior secured revolving credit facility that will be used for working capital and general corporate purposes for Evergreen Enterprises of Virginia, which includes retail subsidiary Plow & Hearth.

“Wells Fargo Capital Finance takes pride in supporting leading retailers that consumers value,” said Keith Vercauteren, head of Retail Finance division at Wells Fargo Capital Finance. “We look forward to working with Evergreen Enterprises as it continues to grow.”

“We did thorough research when we decided to look for a new lender for our working capital line. We chose Wells Fargo Capital Finance’s Retail Finance team because of its extensive expertise in our industry and competitive pricing to help us grow over the next few years,” said Ting Xu, president of Evergreen Enterprises. “We are excited about this new partnership.”

Evergreen Enterprises is a wholesale distributor of home furnishings, garden décor, licensed sports products, and baby and fashion accessories.

Plow & Hearth is a multi-channel merchant with more than 5 million customers.