NXT Capital acted as administrative agent, sole lead arranger and sole bookrunner for a unitranche credit facility to support Chef Merito’s merger with La Fiesta. Chef Merito is a portfolio company of PNC Riverarch, a middle-market private equity firm.
“NXT Capital moved quickly on the transaction and was flexible in addressing all of our needs.” Brian Blake, director of PNC Riverarch, said. “We look forward to partnering with them on future deals”.
Chef Merito manufactures and distributes branded seasonings, marinades, spices and pastes focused on the Hispanic segment and sold through independent and traditional retailers primarily in Southwest region.
La Fiesta is a distributor of packaged spices and herbs primarily serving the U.S. Hispanic population through direct store delivery to the Southwest.
