Candy chain IT'SUGAR lands $8M credit line from Second Avenue Capital
What's the deal? IT'SUGARDealroom has a profile for this one. Try Dealroom →, one of the largest specialty candy retailers, has secured an $8 million senior secured revolving credit facility from Second Avenue Capital PartnersDealroom has a profile for this one. Try Dealroom → (SACP). The facility supports working capital and adds liquidity to fund growth.
What's the endgame? Founded in 2006, IT'SUGAR runs over 100 locations across the US and Canada, pairing a broad confectionery assortment with an entertainment-first retail format. It recently launched a wholesale business to widen distribution of its branded merchandise.
Why now? The company is pushing into new and existing channels, and chief executive officer Ryan Nelson said it needed "a financing partner that understands merchandising, execution, and our broader strategic priorities." He called SACP "the clear choice" for a new lending relationship.
What's SACP getting? SACP, a SchottensteinDealroom has a profile for this one. Try Dealroom → affiliate, specialises in asset-based loans for retail and consumer-products companies. Andrew Prunier, founding member and head of its portfolio team, said the deal gives IT'SUGAR "greater flexibility to invest in productive inventory and execute strategic initiatives."
The signal: Debt, not equity, is funding this expansion — a reminder that consumer-facing brands with real inventory and store networks are tapping asset-based lenders to grow without diluting ownership.
Read more: sfnet.com
Image credit: edenpictures
