Silver Point Finance, the direct lending business of Silver Point Capital, served as administrative agent, collateral agent, joint lead arranger and joint bookrunner in the $862 million senior secured financing supporting the acquisition of Whole Earth Brands by Sweet Oak. The new credit facility led by Silver Point also has refinanced Sweet Oak’s existing broadly syndicated loan in addition to funding the acquisition alongside Rhône and Mariposa Capital.
Sweet Oak, which currently owns Royal Oak Enterprises, completed its acquisition of Whole Earth Brands on Aug. 5, 2024. The combined company has been rebranded as Sweet Oak.
“The Silver Point Finance team is pleased to partner with Mariposa and Rhône in delivering a powerful financing solution to support the acquisition of Whole Earth Brands and the ongoing growth of the company as Sweet Oak,” Anthony DiNello, head of Silver Point Finance, said. “This transaction is a testament to Silver Point’s ability to scale into larger deals, driven by our growing balance sheet and heightened syndication capability. Alongside Mariposa’s strong operating experience and Rhône’s deep industry expertise, our team is excited to support Sweet Oak’s continued success as a combined company.”
Fortress Credit served as a co-lead arranger and co-bookrunner. Cerberus Capital Management, Monarch Alternative Capital and certain other co-investors also participated in the financing.
