Freshpet, the leader in fresh, real food for pets, announces the closing of an amended and restated $165 million senior secured credit facility (the “New Credit Facility”). This New Credit Facility includes a $130 million delayed draw term loan facility and a $35 million revolving loan facility that replaces the Company’s prior $55 million delayed draw term loan facility and $35 million revolving loan facility. The New Credit Facility will mature on April 17, 2025.
Billy Cyr, Chief Executive Officer, stated, “We are pleased to further strengthen the size of our liquidity position with this amended credit facility. We believe this facility, in combination with the recent equity offering we completed and cash from operations, will support the expansion of our Freshpet Kitchens manufacturing operations when we begin construction in Ennis, TX as we continue to execute on our mission and provide more pets with fresh, real food.”
Pet owners want a lot from their pet food brands. They want primary proteins that suit what they believe is best for their animal. They want grains or they don't. They want something customized, but it has to be easy to understand.
Constraints and crises, like those experienced in 2020, help drive innovation and sustainability offers context.