Second Avenue Capital Partners (SACP), a Schottenstein affiliate and provider of asset-based loans and structured financing solutions, provided an $8 million senior secured revolving credit facility to IT’SUGAR, a large specialty candy retailer. The new facility supports IT’SUGAR’s working capital needs and provides incremental liquidity to drive growth.
“IT’SUGAR was created to satisfy a universal sweet tooth through a variety of bold and iconic merchandise you can’t find anywhere else,” Ryan Nelson, CEO of IT’SUGAR, said. “As we pursue growth across both new and existing channels, it is essential to have a financing partner that understands merchandising, execution and our broader strategic priorities, and SACP was the clear choice when we decided to establish a new lending relationship.”
Andrew Prunier, founding member and head of the portfolio team at SACP, added, “IT’SUGAR has done a remarkable job building brand awareness through distinctive product lines and engaging customer experiences. The leadership team has a strong track record of creating dynamic shopping environments, capitalizing on trends and leveraging partnerships with leading brands to offer differentiated products. Our partnership provides IT’SUGAR with greater flexibility to invest in productive inventory and execute strategic initiatives.”
