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Growve Raises $175 Million In Bank Syndication

May 27, 2021•over 4 years ago

Amount Raised

$175 Million

St. Petersburg

Description

Growve today announced $175 million in funding from multiple syndication partners to fuel further acquisitions of omnichannel natural wellness & body care brands. The successful and oversubscribed closing of this new credit facility follows Growve's announcement of a minority equity investment from Palm Beach Capital and signals the Company's rapid ascent as a top brand aggregator and leader in the fast-evolving e-commerce marketplace. The expanded banking syndicate has the capacity to facilitate Growve's aggressive growth trajectory and is comprised of Truist Bank, Compeer Financial, Wells Fargo, N.A., First Horizon Bank, JP Morgan Chase & Co., Synovus Bank, South State Bank, N.A., Atlantic Capital Bank, N.A., HSBC Bank USA, N.A. and Seaside Bank and Trust, a division of United Community Bank.

Company Information

Company

Growve

Location

St. Petersburg, Florida, United States

About

We Grow Brands . . . Let Us Invest In Yours. Headquartered in St. Petersburg, Florida, Growve is a brand consolidator specializing in acquiring and operating world-class natural brands in the supplement, body care, food, household and pet categories. Growve's team of 400+ derives its value from aggregating brands and driving growth through in-house expertise in marketplace management, digital marketing, creative services, innovation, distribution, retail sales, manufacturing, supply chain management, regulatory and accounting. The Company's portfolio includes 20+ brands and hundreds of unique products. Named to Inc. 5000 Fastest Growing list. Recently awarded two first-place Drug Store News Buyers' Choice Awards for its FruilyTM brand. Learn more at growve.com.

Funding Insights

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