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Freshpet, Inc. Amends and Restates Credit Facility
April 21, 2020
Source: Yahoo Finance
Freshpet, Inc. (FRPT) (“Freshpet” or the “Company”) the leader in fresh, real food for pets, today announced 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.”
About Freshpet
Freshpet’s mission is to improve the lives of dogs and cats through the power of fresh, real food. Freshpet foods are blends of fresh meats, vegetables and fruits farmed locally and made at our Kitchens in Bethlehem, PA. We thoughtfully prepare our foods using natural ingredients, cooking them in small batches at lower temperatures to preserve the natural goodness of the ingredients. Freshpet foods and treats are kept refrigerated from the moment they are made until they arrive at Freshpet Fridges in your local market.
Our foods are available in select mass, grocery (including online), natural food, club, and pet specialty retailers across the United States, Canada and Europe. From the care we take to source our ingredients and make our food, to the moment it reaches your home, our integrity, transparency and social responsibility are the way we like to run our business.
CONTACT
ICR
Katie Turner
646-277-1228
katie.turner@icrinc.com
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